April 14, 2025— The Solana price showed a slight uptick of 0.68% to reach its current trading value of $129. Following the broader market rebound, this altcoin showed a renewed recovery last week as panic selling surrounding the tariff war subsided.
Moreover, the Ontario Securities Commission (OSC) has approved the launch of Canada’s first spot Solana ETFs, reinforcing the asset for further recovery.
Canada Approves First Spot SOL ETFs
In a recent tweet, Bloomberg analyst Eric Balchunas highlighted that the Ontario Securities Commission (OSC) has approved multiple asset managers to launch the world’s first spot Solana ETFs. The landmark approval allows issuers, including Purpose Investments, Evolve ETFs, CI Global Asset Management, and 3iQ Corp., to roll out physically backed Solana ETFs on Canadian markets starting April 16, 2025.
This approval marks a significant expansion for altcoin-based financial products and increases SOL credibility and attracts institutional investors.
Initial reports suggested staking features might be enabled via TD Bank, but Eric Balchunas has clarified that TD Bank is not facilitating staking. Instead, the bank’s role was limited to the distribution of information, not direct involvement in staking operations.
However, some of the approved ETFs are still expected to support staking mechanisms, which could potentially generate higher yields than traditional Ether staking and reduce holding costs.
Solana Price Targets 40% Surge Amid Wedge Breakout
Since last week, the Solana price has bounced from a $95.2 low to $129.5—a 36% increase. This bullish upswing breached the resistance trendline of a falling wedge pattern, which led to a steady correction for over two months.
Theoretically, the pattern’s two converging trendlines offer a temporary retracement for buyers to regain bullish momentum, and therefore, the recent breakout signals the end of the prevailing correction.
As the current tariff tensions continue to pressurize the broader market, the SOL price could witness a slight pullback to breached resistance at $112-$110. If the flipped support holds, the coin price could rally 40% up to challenge $180 resistance, followed by an extended leap to $220.
On the contrary, if the price enters the wedge pattern amid an anticipated retest, the previous breakout would be marked as a bull trap.
