Following the appointment of Paul Atkins, a known crypto-friendly figure, as the new SEC Chair, hopes of a Solana ETF approval have reignited.
Solana's daily chart is flashing bullish recovery signs, with the price surging over 6%, breaking above key moving averages.
The hourly chart confirms a breakout with Solana surging above multiple SMAs, indicating growing bullish momentum.
While there is no guarantee of approval, the market is hopeful that a Solana ETF might be considered due to its real-world usage and developer ecosystem.