SOL price shows a mild rebound despite SOL trading below key moving averages.
Maple Finance expands to Solana, launching syrupUSD via Chainlink CCIP with $30M in initial liquidity.
Solana’s DeFi TVL surges to $8.4B, driven by rising platform activity and new lending protocols.
Traders eye $142 support as SOL nears oversold levels; rumors of a $1B token launch spark caution.
Solana (SOL) has seen a mild rebound on the daily chart, offering a temporary pause to recent losses. This technical price action appeared shortly after Maple Finance announced its expansion to the Solana blockchain, contributing to increased investor interest despite ongoing market pressure.
Solana’s DeFi TVL Surges While SOL Faces Short-Term Pressure
Solana has seen growth in its decentralized finance ecosystem. Based on data from DefiLlama, Solana’s TVL rose from $1.4 billion in December 2023 to $8.4 billion as of June 5, 2025.
The ecosystem now includes a growing number of lending platforms such as Save, margin.fi, Rain.fi, and Port Finance. Maple’s arrival is expected to add to the competitive DeFi landscape.
Despite this growth, Solana’s native token, SOL, has faced downward market pressure over the week. As per CoinGecko data, SOL is trading at $149.20, showing a 7.23% drop in the past week but a rebound of 1.85% over the past day.
SOL is trading below both the 50-day ($159.98) and 200-day ($178.43) simple moving averages. These indicators suggest bearish market momentum in the short term.
Technical indicators reflect a cautious mood. The RSI has dropped to 38.41, which is close to the oversold zone.
The MACD also remains in a bearish setup, with the signal line crossing above the MACD line. This structure is reinforced by a red histogram, indicating continued downward momentum in price action.
Maple Finance Brings syrupUSD to Solana Through Chainlink CCIP
Maple Finance, a blockchain-based lending platform, has officially launched on the Solana network. The move introduces its yield-bearing stablecoin, syrupUSD, to Solana’s decentralized finance ecosystem.
According to the June 5 blog, syrupUSD will initially be deployed on Kamino and Orca, two of Solana’s top DeFi protocols. The stablecoin was previously only available on Ethereum.
The integration uses Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which went live on Solana mainnet on May 19. This technology allows data and asset transfers between the Ethereum Virtual Machine (EVM) and the Solana Virtual Machine (SVM) networks.
Maple is starting its Solana deployment with $30 million in liquidity, which it says will support lending and trading on the new network.
Sid Powell, Maple’s CEO, said, “Expanding to Solana unlocks a high-speed, high-capacity environment where Maple’s products can reach a broader class of users.” The expansion is part of Maple’s strategy to increase access for institutions and active DeFi participants.
As of now, Maple holds $1.3 billion in total value locked (TVL), according to data.
SOL Price Risks Persist as Traders Monitor Key Support Levels
Solana’s recent 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. This could absorb selling pressure if the current support breaks.
Meanwhile, 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.
According to on-chain data from Glassnode, Solana recorded its third-highest Coin Days Destroyed (CDD) metric. This means that long-dormant wallets have started moving their holdings. Analysts interpret this as a sign of either profit-taking or portfolio changes.
This behavior adds uncertainty to the short-term outlook for SOL.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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