Morpho token launches on Solana, surges 8.34% amid increased trading and bullish breakout hopes

Morpho token was launched on Solana on July 9 and is now trading on decentralized exchanges like Raydium and Jupiter, boosting its price by 8.34% in 24 hours with a 105% rise in trading volume. Market indicators suggest a potential bullish breakout, though previous attempts have reversed, making cautious trading advisable. A close above $2.42 would confirm strong bullish momentum, while the $2.20-$2.42 range remains a key resistance zone. The token’s availability on Solana and a $60 price forecast by Standard Chartered have improved market sentiment.