🚀 Solana Tests Breakout Zone as $1.8B DeFi Surge Fuels Bullish Momentum
Solana (SOL) is regaining strength, pushing toward the $220–$250 resistance zone as bullish sentiment builds across crypto markets.
DeFi Boom: Solana’s DeFi Total Value Locked (TVL) has climbed by $1.8 billion in just one month, rising from $9.86B in early August to $11.67B, according to DefiLlama. This surge highlights growing investor confidence in Solana’s ecosystem.
Price Action: SOL traded above $205 on Friday, rebounding alongside Bitcoin (BTC), which reclaimed the $112,000 support. Despite a pullback in futures Open Interest (OI) from its record $13.68B, average OI remains elevated at $12.39B, signaling continued market participation.
On-Chain Activity: Active addresses have declined sharply—down 62% from June’s 6M peak to just 2.26M—suggesting weaker on-chain engagement even as staking and DeFi demand grow.
Technical Outlook: SOL remains bullish above key EMAs: the 50-day EMA at $187, 100-day EMA at $177, and 200-day EMA at $171. Traders are watching for a decisive move toward $250, with the all-time high of $295 as the next major target. However, a dip below $200 remains possible, especially ahead of the Fed’s September interest rate decision.
📈 With DeFi momentum and strong technical support, Solana’s breakout potential remains in focus—even as macroeconomic uncertainty looms.