$SOL Here is a detailed analysis of Solana (SOL) on April 16, 2025:

1. Current price and market trends

As of now, the price of SOL is trading at around 125.81 USD, with a daily high of 134.34 USD and a low of 123.67 USD. Compared to the yearly low of 95.23 USD, SOL has increased by over 40%, indicating a strong recovery from the beginning of April to now.

2. Factors supporting the upward trend

Launch of Solana ETF in Canada: On April 16, Canada officially launched 4 spot ETFs for Solana, including staking features. This is a significant step, paving the way for institutional capital into SOL and could drive the price even higher.

Positive technical signals: The RSI index near 35 indicates that SOL is in the oversold region, combined with bullish reversal candlestick patterns, suggesting a potential recovery. If SOL closes above