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Crypto

Solana Eyes $83 Breakout After Cathie Wood Boosts Stake

Guavy AI Editorial Team
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SOL
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Cathie Wood's ARK Invest has increased its exposure to Solana (SOL) by buying 7,115 shares of the 3iQ Solana Staking ETF on Aug. 17.

This purchase comes as demand for Solana exchange-traded funds weakened, with no new inflows since Aug. 12, but still recorded $10.26 million in net inflows during the Aug. 10-14 week.

Solana is currently trading near $76 and has a breakout target of $83 if it can close above this level, according to CoinGape market analyst Muthoni Mary's analysis of a cup-and-handle pattern on the daily chart.

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