Solana Faces Critical Test as $90 Support Hangs in the Balance

Solana (SOL) is at a pivotal juncture as it struggles to reclaim a key trading range, with analysts warning of a potential breakdown below $90. The cryptocurrency’s inability to regain this critical level has turned it into resistance, squeezing price action and increasing downside risks. market observers note the possibility of a liquidity sweep and swing failure pattern that could trigger a sharper reversal. As of April 2025, SOL’s attempts to establish a base remain precarious, leaving traders watching the $90 level as a make-or-break threshold for the asset’s near-term trajectory.

Solana Struggles to Reclaim Point of Control, Risk of $90 Breakdown Looms

Solana (SOL) is currently facing challenges in reclaiming a crucial point of control within its trading range. This failure has turned the zone into short-term resistance, compressing price action and making Solana vulnerable to a potential move below $90. This region is primed for a liquidity sweep and swing failure pattern, which could pave the way for a significant price reversal. While SOL attempts to build a base, bullish momentum remains capped due to its inability to reclaim the point of control.

Glow Finance Launches on Solana

Solana DeFi has seen rapid growth in recent years, with behaviors like high-speed trading, airdrop farming, and multi-leg strategies gaining traction. However, users still face infrastructure built for slower, passive chains. Blueprint Finance, behind the Ethereum-based Concrete protocol, saw an opportunity and acquired Jet Protocol’s Solana-native lending platform last October. After months of rebuilding it from the ground up, they have launched Glow Finance, aiming to address the limitations of current Solana DeFi infrastructure.

Solana Price Explodes Past Key Resistance

Solana’s price jumps 40%, breaking past major resistance after rebounding from $95.23. The long/short ratio peaks at 1.06, showing increased trader confidence in a bullish rally. MACD crossover and RSI at 53.49 confirm strong buyer momentum and bullish sentiment. After hitting a 1-year low last week, Solana’s (SOL) price has seen a significant surge.

Canada to Launch ’World First’ Spot Solana ETFs With Staking

Canada plans to launch a spot Solana (SOL) exchange-traded funds (ETFs) with staking capabilities on Wednesday. According to Bloomberg senior ETF analyst Eric Balchunas, the Ontario Securities Commission (OSC) has approved four asset managers, including Purpose, Evolve, CI, and 3iQ, to list the new products. These ETFs will invest in long-term holdings of Solana in physical form but will track different indices.