Solana’s local token Sol
According to Coindesk Research’s technical analysis model, it fell 1.21% on Tuesday to $143.38, nearly closed at the low of the day after not holding more than $147.
Even if the ecosystem attracts new institutional support: Canadian blockchain investors have weakened sol strategy Filed On June 18, the Nasdaq stock list under the US Securities and Exchange Commission and stock person STKE.
While the document itself is not a direct market driver, it highlights growing institutional commitment to the long-term prospects of Solana. Sol Strategies revealed earlier this month that it owns more than 420,000 sols, worth more than $61 million, and makes SOL the core of its treasury strategy. The company is also seeking regulatory approval in Canada to raise up to C$1 billion for acquisitions and equity in addition to the $500 million convertible notes issued in April.
Despite these bullish signals, SOL is still trading defensively. Price action has been limited to Level Bands for most of the past week, with recent breakthrough attempts exceeding $147.80 and failing to generate follow-up action. The bears regained control within the last few hours of the trade, pushing SOL towards $144 psychological support. Emotion remains vulnerable even as the long-term support increases as the price trend is below the main moving average and gradually decreases in the medium term.
Technical analysis highlight
- SOL trades from $143.23 to $147.80 in 24 hours with a volatility of 2.83%.
- The resistor held $147.80 in $147.80 after a failed breakout in the UTC candle on June 18.
- Prices steadily fell to $143.38, approaching lows after weak recovery volumes.
- Sellers were active between 13:46-14:00 UTC and on a strong downward trend, the sellers fell from $144.62 to $143.38.
- The $144–$145 area remains crucial; if not retracted, it could open a path for deeper support of $140.
Disclaimer: Part of this article was generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and compliance Our standards. For more information, see Coindesk’s complete AI policy.
