SOL Price Prediction: Can Bulls Overcome Resistance After Canada ETF Boost?
SOL Technical Analysis: Key Levels to Watch Amid Bearish Signals
SOL is currently trading at $166.54, below its 20-day moving average of $173.31, indicating short-term bearish pressure. The MACD histogram shows a slight bullish divergence at 5.0576, though both lines remain in negative territory. Bollinger Bands suggest $182.55 as resistance and $164.06 as immediate support.
"The price action suggests consolidation," said BTCC analyst William. "A sustained break above the middle Bollinger Band could signal bullish momentum, while failure to hold $164 may trigger further downside."
Mixed Catalysts for SOL as Canada ETF Approval Offsets Inflation Concerns
Solana’s 13% weekly gain faces headwinds from technical resistance and mixed fundamental developments. Canada’s pioneering SOL ETF approval contrasts with market uncertainty around inflation proposals and a $13 million liquidation event.
"The ETF inflow potential is significant," noted BTCC’s William, "but traders should monitor whether bullish sentiment from institutional adoption can overcome near-term technical resistance at $173."
Solana ($SOL) Sees Inflow Surge, Indicating Possibility for Price Spike
Solana ($SOL) has recently witnessed a considerable rise in inflows, pointing toward the potential for a price surge. Traders are showing increasing interest in Solana compared to other blockchains. Market data reveals that inflows into Solana have jumped significantly, with holders transacting the maximum quantity from Ethereum ($ETH) amounting to $41.5M. There was also a noteworthy influx of $37.3M from Arbitrum. Meanwhile, consumers on Sonic, BNB Chain, and Base shifted $6.6M, $14M, and $16M respectively. The liquidity resurge on Solana offers a promising outlook.
Canada Launches World’s First Solana ETF; SOL Price Jumps
Canada-based firm Purpose Investments has launched the world’s first Solana ETF, now trading on the Toronto Stock Exchange. On-chain data shows Solana staking deposits increased by 2 million SOL this week, pushing the SOL price up by 6% on Thursday and breaching the $135 resistance level. This performance outstripped both Bitcoin (BTC) and Ethereum (ETH). The bullish sentiment was further amplified by $270 million in new staking deposits this week.
Solana At Critical Juncture; Bulls Aim for $147
Solana is trading at a pivotal price level that could determine its short-term direction. After weeks of selling pressure, bulls are attempting to regain control by breaking above $147. Macroeconomic tensions, especially trade conflicts between the US and China, have created a high-risk environment across global financial markets, making altcoins like Solana vulnerable. With uncertainty rising, digital assets are under pressure.
Coinbase Upgrades Solana Infrastructure
Coinbase has upgraded its infrastructure to better support the Solana ecosystem after receiving user complaints. The largest U.S. crypto exchange has rolled out improved failsafes, enhanced liquidity measures, and faster transaction processing. Additionally, Coinbase promised to speed up Solana transaction processing times in January after users encountered problems with depositing and withdrawing SOL. According to Coinbase, enhancements allowed quicker and more dependable sends and receives, reaffirming its dedication to providing industry-best results and dependability for its users.
Solana’s 70% Long Bias Indicates Possible Major Breakout
Solana [SOL] has surged nearly 20% this week, outperforming its rivals. Derivatives metrics reveal a pronounced long-side imbalance, with over 70% of Binance Open Interest (OI) skewed to the upside. Such a leverage-heavy structure increases the probability of a liquidation cascade on any sharp retracement, raising questions about whether SOL is primed for a classic liquidity sweep and mean reversion or if leveraged participants are front-running something much bigger.
Solana Inflation Proposal Faces Mixed Reactions
Galaxy has submitted a new inflation proposal for Solana called Multiple Election Stake-Weight Aggregation (MESA). The proposal aims to reduce SOL inflation using a more market-based approach by allowing validators to vote periodically on multiple deflation rates and settle on the median vote outcome. Stakeholders previously rejected Solana’s 80% inflation cut proposal via SIMD-228 in March.
Solana’s $13 mln liquidation puzzle – Will THIS turn things in SOL’s favor?
Recent developments in the derivatives market have split sentiment regarding Solana’s [SOL] losses. SOL had risen 14.56% during the week and 6.50% over the month. In the last 24 hours, liquidations saw an equal split between long and short positions, with both sides losing $6.5 million each, signaling trader exhaustion and indecision. Despite this, indicators still favored buyers, implying the next decisive swing could tilt upward.
SEC Sets Roundtable on Crypto Custody, Russia Eyes Stablecoins, Canada Approves Solana ETFs
The U.S. Securities and Exchange Commission (SEC) will host a crypto custody roundtable on April 25th, focusing on broker-dealers and investment advisers. Meanwhile, Russia is pushing for domestic stablecoins after foreign wallet freezes disrupted transactions. Additionally, Canada has approved Solana ETFs. Global momentum toward clearer crypto regulation continued as multiple jurisdictions revealed plans to tighten, reshape, or expand their digital asset policies.
Solana (SOL) Gains 13% In One Week But Faces Resistance
Solana (SOL) has seen a 13% increase in value over the past week but has stalled below the key $136 resistance level. Technical indicators suggest weakening trend strength and fading volatility, often a sign of incoming consolidation or market indecision. The Relative Strength Index (RSI) for SOL is currently at 60.35, marking a noticeable rise from 45 just two days ago, indicating growing bullish momentum. However, the RSI has stabilized since yesterday, suggesting that upward pressure may be easing for now. SOL is pushing closer to overbought territory but has not quite reached it yet.
Solana Inflation Reform Proposal Revived by Galaxy Research
Galaxy Research has submitted a new proposal to the Solana governance aiming to overcome the deadlock that hindered the SIMD‑228 vote on inflation. The Multiple Election Stake‑Weight Aggregation (MESA) Vote for Reducing Inflation seeks to allow validators to express a range of preferences rather than just a YES/NO/ABSTAIN vote. Currently, Solana’s annual issuance starts at 8%, declines by 15% each year, and plateaus at a 1.5% inflation rate. The network’s effective inflation stands at 4.591%.
Solana Price Eyes $150 as Bulls Defend Key Support
Solana (SOL) has climbed to $139.91, just beneath the key $150 resistance zone. After weeks of consolidation, bulls have regained momentum, defending a key trendline and positioning SOL for a potential breakout as May approaches. The catalyst for this uptick is institutional conviction, with Galaxy Digital recently acquiring 606,000 SOL worth $83 million in just four days, staking 462,000 tokens. This acquisition signals strong confidence in Solana’s long-term scalability and ecosystem growth.
