#SolanaSurge Solana (SOL) has recently experienced a significant surge in value, driven by several factors. Here are some key points contributing to its growth:

- *Launch of Solana ETFs*: The introduction of Solana exchange-traded funds (ETFs) in Canada has boosted investor confidence and attracted institutional interest. This development has contributed to the recent price increase.

- *Growing Network Deposits*: Solana's network deposits have seen a substantial influx of liquidity, with over $120 million bridged to the network in the past 30 days. This increased demand is reflected in the growing total value locked (TVL) on Solana, which has risen by 12% to $7.08 billion.

- *Technical Indicators*: Solana's price technicals are showing bullish signs, with the relative strength index (RSI) increasing from 33 to 55 since April 7. The cryptocurrency has also broken out of a falling wedge pattern, hinting at a potential price rally.

- *Price Movement*: Solana's price has surged 40% in the last 10 days, climbing from $95 to around $134. The current price is $134.09, with a market capitalization of $66.36 billion.

Some predictions suggest that Solana's price could reach $200, representing a 50% increase from the current price. However, to sustain this recovery, Solana needs to hold above the 50-day simple moving average (SMA) at $130 and overcome resistance between $160 and $180 ¹ ².