$SOL

Solana is currently experiencing a positive price trend, trading around $134. This reflects a notable recovery, with a 24-hour increase of over 2% and a significant 13% rise over the past week. This upward momentum is partly attributed to increased on-chain activity, with staking deposits rising, reducing circulating supply.

A significant recent development is the launch of the first North American spot Solana ETF in Canada, which has boosted investor confidence and accessibility. This comes alongside a broader trend of liquidity moving into the Solana network from other blockchains, indicating renewed interest in its ecosystem.

Technically, Solana has broken above some resistance levels, suggesting potential for further gains if it can overcome the next key resistance points around $135-$137 and the 50-day EMA. The ecosystem continues to grow, attracting developers and seeing increased activity in DeFi and meme coins. Overall, the current scenario for Solana appears bullish, driven by both fundamental and technical factors.