Solana Sees Breakout to $83 as Cathie Wood Boosts Stake

Cathie Wood's ARK Invest has increased its exposure to Solana (SOL) through the purchase of 7,115 shares of the 3iQ Solana Staking ETF on Aug. 17.

This move comes as broader ETF inflows have stalled, with no new inflows since Aug. 12.

Solana is currently testing $76 resistance, and according to a chart setup identified by CoinGape market analyst Muthoni Mary, a breakout above this level could lead to an 8.9% advance toward $83.

However, the token has repeatedly failed to close above $76 since Jul. 20, with another failed attempt potentially sending SOL toward the lower Bollinger Band near $72.