Solana potentially reach 300$ by end of month, below are the reason for you to hold:
1. Launch of the First Spot Solana ETF in Canada: The introduction of the first spot Solana Exchange-Traded Fund (ETF) in Canada has bolstered investor confidence, signaling growing institutional interest in Solana .
2. Technical Indicators Pointing to Bullish Momentum: Solana has surpassed key resistance levels, and technical indicators such as the Relative Strength Index (RSI) at 58.47 suggest there's still room for growth before the asset becomes overbought .
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3. Short Liquidations Fueling the Rally: A significant wave of short position liquidations in the derivatives market, amounting to $9.3 million for SOL, has forced traders to buy back positions, further accelerating the price rally .
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4. Increased Staking Activity: Solana has recently surpassed Ethereum in staking market capitalization, indicating a surge in network participation and investor commitment .
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These combined factors are contributing to Solana's current price surge.
