The post 20% Weekly Gain as Token Rebounds from $96 Low appeared on BitcoinEthereumNews.com.

TLDR Solana has gained 20% over the past week, rebounding from a $96 low to around $134 Nearly 72% of Binance traders hold long positions on SOL, showing strong bullish sentiment Canada launched the world’s first Solana spot ETF (CSOL) on the Toronto Stock Exchange SOL needs to break above $147-$150 to confirm a new bullish trend Staking deposits increased by 2 million SOL ($270 million) between April 13-17, reducing circulating supply Solana has made a strong comeback after recent market turbulence. The smart contract platform gained nearly 1.34% in the past 24 hours and is up an impressive 20% over the last seven days, as bulls regain control and push prices higher. Just days ago, SOL dropped to a local low of $96 during broader market sell-offs driven by macroeconomic uncertainty. However, the dip was short-lived. Solana has since staged a recovery, climbing back above key resistance levels and now trading around $134. The swift rebound underscores growing investor confidence and a return of bullish momentum. Market sentiment appears to be shifting in favor of the bulls. According to data from a prominent analyst, about 71.87% of traders on Binance with open SOL positions are betting on continued upside. This overwhelming long positioning signals strong expectations of a sustained rally. Crypto analysts note that Solana is showing technical strength after bouncing off weekly support. 71.87% of traders on Binance with open #Solana $SOL positions are betting on upward price movement! pic.twitter.com/aPnCb6JvjG — Ali (@ali_charts) April 17, 2025 Canada Launches First SOL ETF A major catalyst for Solana’s recent price action was the launch of the world’s first Solana spot ETF. The ETF, launched by Purpose Investments, began trading on the Toronto Stock Exchange under the ticker CSOL on Thursday. Purpose Investments’ CEO Som Seif emphasized that the fund provides…

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Filed under: News - @ April 18, 2025 11:23 am