Solana Bounces Back After Fed Rate Hike: Three Catalysts for a $130 Breakout

Solana's price has rebounded after the Federal Reserve raised interest rates for the first time since 2023, with $SOL up nearly 6% over the past 24 hours to $106.

The rally comes as Solana continues to gain adoption, with Galaxy announcing two lending vaults on Kamino and Project Harmonia linking Allfunds' distribution network to tokenized funds built on Solana.

SEC Chair Paul Atkins has also expressed support for Solana, stating that the SEC will act within its existing authority to provide certainty for investors and technology entrepreneurs.

However, markets are still uncertain about future rate hikes, with a 41% probability assigned to another increase in December. A decisive breakout above $110 could send $SOL toward the near-term target of $130, but rejection of the $105 resistance level could trigger a retest of the 200-day exponential moving average.