- Solana (SOL) is showing bullish potential as it approaches a key resistance level, with a potential 30% breakout if it breaks the $120 mark.
- The launch of Huma Finance 2.0 on Solana adds to the excitement, offering stable, real yield and further strengthening the DeFi ecosystem.
Solana (SOL) is showing strong bullish potential, as the network retests a falling wedge pattern resistance, signaling a potential 30% breakout. At the time of writing, SOL is trading at $114.46 after a solid 8% gain over the past 24 hours. The recent market rebound, spurred by the announcement from US President Donald Trump to suspend reciprocal tariffs, boosted SOL’s price as it approached the critical $120 resistance level. However, the breakout could be delayed as Solana continues to face macroeconomic uncertainties.
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In exciting news for the Solana DeFi ecosystem, Huma Finance 2.0 has officially launched, offering access to stable, real yield. The innovative PayFi network promises to revolutionize decentralized finance by introducing permissionless, regulatory-compliant products with a focus on real-world liquidity. The protocol provides double-digit yields generated by real payment financing activities, previously reserved for institutional players. With its flexible modes like Classic and Maxi, users can choose how they wish to earn, including optional lock-ups for higher rewards. Partnerships with key players like Jupiter, Kamino, and RateX further strengthen its ecosystem.
Despite these positive developments, Solana’s price has faced resistance at the $120 mark, slightly delaying the falling wedge breakout pattern. The falling wedge is typically a bullish signal, formed by converging downward-sloping trendlines during a downtrend or consolidation phase. If SOL breaks above the upper trendline, the price could surge by 30%, with the next target at $142.
Solana’s Relative Strength Index (RSI) is currently at 42.55, indicating a neutral market sentiment. While there is room for growth, traders are watching closely for a rise above 50 on the RSI to confirm bullish momentum. However, caution is advised, as a false breakout could lead to a pullback toward the $100 support level.
As the broader market remains cautious due to ongoing economic uncertainties, including tariff concerns, the coming days could determine whether Solana’s bullish breakout can sustain momentum and push to new highs.