Solana Stabilizes Near $144 as Institutional Moves Offset Technical Weakness
Solana’s SOL token is holding near $144.14, down 2.06% on the day, but showing signs of resilience amid a broader risk-off environment in crypto markets. Price action remains compressed near the bottom of a recent $145–$149 range, following market-wide pressure from heightened geopolitical risks.
Despite subdued retail activity, two major institutional developments have emerged as potential tailwinds for SOL.
On Friday, all seven U.S. spot Solana ETF applicants — including Fidelity, VanEck, Bitwise, and Grayscale — submitted updated S-1 filings to the SEC, adding staking mechanisms. This alignment with Solana’s native yield model marks a significant step toward making the ETFs more structurally reflective of the network’s economics, a key factor for institutional buyers.
Separately, DeFi Development Corp, a Nasdaq-listed treasury strategy firm, disclosed a new $5 billion equity line of credit with RK Capital, designed to support long-term SOL accumulation. The ELOC structure allows for share issuance over time, avoiding the market impact of large lump-sum fundraising.
Although the firm recently withdrew an earlier S-3 registration due to eligibility concerns, it confirmed plans to refile and emphasized its ongoing SOL acquisition strategy. Its treasury currently holds 609,190 SOL, valued above $97 million.
While short-term momentum remains weak, and technicals offer mixed signals — including a negative MACD and sub-50 RSI — institutional accumulation below $146 appears to be quietly supporting price action. The Chaikin Money Flow remains positive, and whale bids continue to surface just below $145.
Technical Recap:
- 24H Range: $144.13–$148.70 (3.08%)
- Support: Solid at $144 amid quiet accumulation
- Resistance: Persistent around $149
- Key Volume Events: High-volume drop at $145.95 (13:41–13:47 UTC); failed breakout at $145.78
- Whale Interest: Ongoing below $146, though upside remains capped
Solana’s short-term trajectory may depend on macro conditions, but institutional interest and structural ETF progress are laying groundwork for a potential rebound.
