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Guavy AI Editorial Team••Sentiment: -2•Clout: 85

$SOL Price Stagnant Amid DeFi Support Efforts

USDTAAVESOL

The Solana ecosystem continues to navigate the aftermath of a significant exploit in the decentralized finance (DeFi) space. The Solana Foundation has taken steps to support liquidity by lending USDT to Aave, a move aimed at promoting recovery and stability across DeFi protocols.

However, the price of SOL remains nearly flat over 24 hours, with only a marginal gain of 0.03% as per CoinMarketCap data. The $SOL price is currently trading around $86.41, still far from its January highs.

A deep dive into TradingView's Solana daily chart reveals a prolonged decline from January followed by a tight consolidation phase. To break above the current resistance and target the $100 region, SOL needs to overcome the $89.32 threshold.