#SolanaSurge

Solana (SOL) has surged significantly on Binance, with its price increasing by 40% in the last 10 days to reach around $133-$134. Currently, 71.87% of traders on Binance with open SOL positions are betting on a continued upward price movement, indicating strong bullish sentiment.

*Key Factors Contributing to the Surge:*

- *Institutional Interest*: Companies like Janover have invested heavily in Solana, with Janover purchasing 80,567 SOL tokens for $10.5 million, bringing its total treasury to 163,651 SOL.

- *Liquidity Inflows*: Over $120 million in liquidity has been bridged from other blockchains to Solana in the past 30 days, strengthening its market position.

- *Technical Outlook*: Solana's price has broken out from a falling wedge pattern, a bullish signal, with potential targets reaching $200, representing a 50% increase.

*Market Performance:*

- *Current Price*: $134 (with a 4.50% surge from the day's low and 23% up from the weekly low)

- *Resistance Levels*: $147-$150 is a crucial resistance zone to break for a sustained recovery rally

- *Support Levels*: $125 is a key support level to defend, with $100 being a potential drop-back zone if bulls fail

*Additional Developments:*

- *Solana-based ETFs*: Canada has launched the world's first spot Solana ETFs on the Toronto Stock Exchange, providing secure and compliant access to Solana.

- *Decentralized Finance (DeFi)*: Solana's DEX trading volume has declined since January, but it still maintains a significant market share ¹ ².