Solana Slips Below $144 Despite Institutional Interest as Sol Strategies Eyes Nasdaq Listing
Solana’s SOL token dipped under the $144 mark on Tuesday, even as institutional interest in the network continues to deepen. Canadian blockchain investment firm Sol Strategies has submitted a filing with the U.S. Securities and Exchange Commission seeking to list shares on the Nasdaq under the ticker STKE, signaling growing confidence in Solana’s ecosystem from professional investors.
SOL closed at $143.38, down 1.21% after failing to hold above $147, according to CoinDesk Research’s technical analysis model.
While Sol Strategies’ planned listing hasn’t delivered an immediate boost to SOL prices, it underscores momentum building around Solana’s long-term prospects. Earlier this month, Sol Strategies disclosed it holds over 420,000 SOL — worth more than $61 million — as part of its treasury assets. The firm also intends to seek regulatory approval in Canada to raise as much as $1 billion, following a $500 million convertible note sale in April that fueled SOL purchases and staking initiatives.
Still, SOL’s price performance has remained tepid. Attempts to break above $147.80 were rejected, and renewed selling pressure dragged prices lower late Tuesday, pushing SOL beneath the crucial $144 support zone. Trading activity also waned mid-session, leaving SOL vulnerable to further downside as it slipped below key technical levels.
Technical Analysis Overview:
- SOL traded within a range of $143.23 to $147.80 over 24 hours, a swing of approximately 2.83%.
- Resistance at $147.80 held firm after an unsuccessful breakout attempt during the 22:00 UTC candle on June 18.
- SOL finished the session at $143.38, its lowest level of the day, as recovery attempts faltered.
- Notable selling emerged between 13:46 and 14:00 UTC, driving the price down from $144.62 to $143.38 on heavier sell volume.
- The $144–$145 price band remains crucial; a decisive break below could set the stage for further declines toward support near $140.
