🥛 SOL breakout soon? Here’s the setup 📈

GM. This is Milk Road – the newsletter that maintains what psychiatrists have called “an unhealthy fixation” on crypto, so you can become a smarter investor!

Here’s what we got for you today:

✍️ Is $SOL set for a breakout?
✍️ Institutions are still sleeping on ETH
🎙️ The Milk Road Show: The Next Crypto Bull Run Will Start in October | Jesse Eckel’s Investing Strategy
🍪 Trump’s back swinging at the Fed

Walrus is making blockchains faster, cheaper, and more secure. Click here to learn more about Walrus.

Prices as of 2:00 PM ET. Click here for our Fear & Greed Index.

IS $SOL SET FOR A BREAKOUT? 📈

If you don’t follow us on Twitter/X…

First: what’re you doing?? Come hang!

Second: you would have missed our recent series of posts showing that Solana was on struggle street…

It was in a downtrend against Bitcoin and Ethereum (meaning 1 $SOL was able to buy less and less $BTC and $ETH over time).

Plus, every time Solana tried to break above $200 – bam! It would hit resistance.

Thankfully, we’re starting to see a shift across all of these points of contention.

1/ $SOL/$BTC: downtrend broken ✅

The $SOL/$BTC chart has been in a downtrend since the second week of January – meaning Bitcoin has outperformed Solana since the start of 2025. Whoof!

But as of this past Sunday night, that trend officially broke, forming a higher high at the close of the weekly candle.

Source: TradingView

2/ $SOL/$ETH: downtrend broken? Eh, not just yet – but looking good…for now 🙏

Solana has broken its ~5 month downtrend on the $SOL/$ETH chart – but has not yet ‘confirmed’.

To get confirmation, we’ll need to see the $SOL/$ETH price close the week above the white line on the chart below (mark your calendars for Sunday night). 👇

Source: TradingView

3/ The $200 mark: broken for the first time since February ✅

Solana’s relationship with the $200 price point is…err, complicated – they’ve been butting heads for the better part of two years now.

Both the post-election Trump Pump (Q4 2024) and $TRUMP memecoin launch (Jan 2025) saw Solana break solidly beyond $200…but unfortunately, it failed to hold.

Good news is: it looks like Solana is mending its relationship with the $200 price point, after closing above it this past Sunday (only climbing since).

Source: TradingView

Tie that all together and it starts to look like a Solana breakout could be on the horizon!

(Can I get a Hulk Hogan-style “Heeell yeeeah, brother!”?)

Now, here’re some potential price catalysts to watch for in the coming months…

Movement on any major US-based Solana spot ETFs
Public Solana treasury announcements from major players (in the $1B+ range)
Progress on – or dare we say, ‘the launch of’ – Firedancer (which will help to solve Solana’s downtime issues)

They’re all contenders, so keep your eyes peeled and your fingers crossed! 👀🤞

(If anyone needs me – I’ll be out back making a blood sacrifice to the crypto gods.)

Oh, and BTW – if you’re looking to trade $SOL, Milk Road Swap has you covered.

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$ETH’S INSTITUTIONAL ADOPTION HAS BARELY BEGUN 🏛️

Oooft…

So now that Ethereum is showing weakness against Solana (its biggest competitor) – does that mean our $ETH gains are about to be put on ice?

Look…our crystal ball is in the shop right now (it kept saying our General Manager, Tyler, was “an all round cool guy”, so obviously something was short circuiting) – BUT!

If we had to make an educated guess, we’d say:

Absolutely not.

If for no other reason than this. 👇

Source: @JSeyff

Yuh. The single largest institutional investment into the Ethereum ETFs is still under $1B.

Goldman Sachs (the leader) has $3.3T in assets under management and currently holds $721M worth of $ETH ETF shares.

That’s a 0.021% allocation.

(Small boy stuff!)

Not feeling the growth potential just yet? Lemme bring it into focus with some context…

You know how $BMNR is aiming to buy up 5% of the total Ethereum supply over time, and everyone is giddy about how that kind of INSANE allocation could skyrocket $ETH’s price?

Yeah, well – if Goldman wanted to do the same and claim 5% of the total $ETH supply for themselves…

They’d only have to move their allocation up from 0.0023% to 0.85%.

That’s the power of institutional allocation!

Small percentages → massive consequences.

And judging from the current list of 13F filings – the real allocation has barely even begun.

So no, we’re not worried about Ethereum weakening against Solana.

CRYPTO PRO “WHERE ARE WE IN THE CYCLE?” INDICATORS 🤔

It feels like the market is pulling back…

So should we be exiting our positions, or buying the dip?

That’s what we’re covering in today’s “Where Are We In The Cycle” sections.

The goal is to spot the bull market peak before the inevitable bear market hits your bags hard.

Since timing the top perfectly is almost impossible, we use various indicators to give us a better shot at taking profits before it's too late.

Below are the 6 indicators we track, with a color-coded system to show how close they are to signalling the market peak:

🟢 Plenty of room to run 🏄

🟡 Getting closer to the top signal, but haven’t yet reached the mark ⚠️

🔴 We’ve hit the market top indicator 🚨

Every Thursday, we update these 6 indicators exclusively for PRO members.

Our advice? Don't wait for all of them to hit 🔴. It's better to take profits as they get closer to that point.

Let's dive in and see if we're anywhere near the top of this bull market. 👇

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