- SOL price stayed nearly flat over 24 hours.
- Solana Foundation lent USDT to Aave to support liquidity.
- SOL price needs a move above $89.32 to target $100, while $83.02 remains key support.
After hitting $89K this week, SOL-0.31% has hinted at a potential uptick as it continues to trade below that level. During today’s Asian trading session, the SOL price opened at $85.9 before an upward trend took hold, pushing it closer to the prior $89K.
SOL Price Turns Flat as Recovery Offsets Earlier Drop
Tracking the ongoing price trend at the time of press, CoinMarketCap data indicates that Solana traded at $86.41, with the 24-hour chart showing a marginal 0.03% gain. Early green movement held above the midline before a sharp decline pushed SOL into negative territory. The drop extended toward the lower range near $85.60, where the chart formed its weakest section.
After that phase, Solana recovered gradually and returned toward the $86.20 area. The rebound faced several pauses, but the price continued to build higher lows. A sharper upward move later lifted SOL back above the earlier reference line near $86.39. The SOL price chart then turned green again, showing recovery from the earlier intraday weakness.
Price action later moved sideways above that line, with repeated small pullbacks and rebounds. The latest section showed SOL price holding near $86.53. Solana’s 24-hour trend remained nearly flat, with recovery offsetting most earlier losses. The market closed the move slightly positive, but momentum stayed modest.
Solana Foundation Lends USDT to Aave After $190M Exploit
The SOL-0.31% trend comes as the Solana Foundation has lent USDT to Aave amid DeFi teams responding to losses tied to an April 18 exploit. The foundation deployed treasury funds to support liquidity during recovery talks. Solana Foundation Chair Lily Liu said the loan supports recovery efforts and broader DeFi stability.
Liu said the foundation has used capital inside Solana’s DeFi ecosystem before. She also said stability across networks matters because DeFi platforms depend on each other. The foundation previously supported Tether’s recovery plan for Drift, according to Liu. She also confirmed plans to bring AAVE to the Solana network this weekend.
The USDT loan provides liquidity support while Aave and other DeFi protocols address the fallout from the exploit. However, the foundation has not disclosed the loan amount or terms. As we had reported earlier, the exploit involved KelpDAO infrastructure and LayerZero’s verification system. Attackers used a misconfiguration to mint unbacked rsETH and place it as collateral on Aave.
They then withdrew nearly $190 million in real assets from the protocol. An invalid collateral created exposure across connected markets. Recovery efforts now include DeFi United, which has raised more than $230 million for affected rsETH holders. Arbitrum DAO and Mantle and Aave DAO have committed more than 85000 ETH, which requires governance approval.
Will SOL Price Reclaim $100 After Holding Its Current Base?
A deep dive into TradingView’s Solana daily chart shows a prolonged decline from January highs, followed by a tight consolidation phase. The price dropped sharply in February, then moved sideways across March and April as recent candles show narrow ranges.
The HullMA line sits above price, with key levels near $86.49, $89.32, and $83.02. The price remains below the green upper band, while the red band marks a nearer downside structure. This setup shows weak momentum because Solana price has not reclaimed the moving resistance area. The latest candles also show limited volatility, meaning traders have not pushed the price into a clear breakout.
A move above $89.32 would place the next target around the $100 region. Stronger continuation would need daily closes above that zone to challenge higher resistance near $110. However, failure to hold above $83.02 would weaken the current base. In that case, the chart points toward the $75 to $78 support area. Current structure favors sideways trading until volume confirms direction.
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