Solana Rebound 1.85% After Maple Finance Expansion

Solana (SOL) has experienced a mild rebound on its daily chart, providing a temporary respite from recent losses. This technical price movement occurred shortly after
Finance announced its expansion onto the Solana blockchain, which has sparked increased investor interest despite ongoing market pressures.Solana’s decentralized finance (DeFi) ecosystem has shown significant growth. As of June 5, 2025, Solana’s total value locked (TVL) in DeFi surged to $8.4 billion, up from $1.4 billion in December 2023. This growth is driven by a rising number of lending platforms such as Save, margin.fi, Rain.fi, and Port Finance. Maple Finance’s entry is expected to further intensify the competitive landscape within Solana’s DeFi ecosystem.
Despite this growth, Solana’s native token,
, has faced downward market pressure over the past week. SOL is currently trading at $149.20, reflecting a 7.23% drop over the past week but a 1.85% rebound over the past day. The token is trading below both the 50-day and 200-day simple moving averages, indicating bearish market momentum in the short term. Technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) suggest a cautious market mood, with the RSI dropping to 38.41, close to the oversold zone, and the MACD remaining in a bearish setup.Maple Finance, a blockchain-based lending platform, has officially launched on the Solana network, introducing its yield-bearing stablecoin, syrupUSD, to Solana’s DeFi ecosystem. syrupUSD will initially be deployed on Kamino and Orca, two of Solana’s top DeFi protocols. The integration utilizes Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which facilitates data and asset transfers between the Ethereum Virtual Machine (EVM) and the Solana Virtual Machine (SVM) networks. Maple Finance is starting its Solana deployment with $30 million in liquidity to support lending and trading on the new network. Sid Powell, Maple’s CEO, highlighted that expanding to Solana provides a high-speed, high-capacity environment where Maple’s products can reach a broader class of users, aligning with the company’s strategy to increase access for institutions and active DeFi participants.
Solana’s recent price trend has brought it near key technical support levels. The price finds support at $142.44, which corresponds to the 0.5 Fibonacci retracement level. If this level breaks, the next support sits around $131.72, with a deeper drop potentially extending to $116. These levels are crucial for traders in the current market setup. Volume Profile Fixed Range (VPFR) data shows a large liquidity zone between $131 and $123, which could absorb selling pressure if the current support breaks. The 12-hour RSI suggests that while sellers remain dominant, the momentum may be fading. Analysts have noted that many long positions were liquidated, which may have accelerated the recent correction. On-chain data from Glassnode indicates that Solana recorded its third-highest Coin Days Destroyed (CDD) metric, suggesting that long-dormant wallets have started moving their holdings. This behavior adds uncertainty to the short-term outlook for SOL.

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