Share this article

SOL Slips Below $144 Even as Sol Strategies Eyes Nasdaq to Deepen Its Bet

SOL fell below $144 despite bullish institutional headlines, as Sol Strategies filed to list on Nasdaq while holding over $61 million worth of SOL tokens.

Updated Jun 19, 2025, 3:46 p.m. Published Jun 19, 2025, 3:43 p.m.
SOL Breaks Below $144 Despite Nasdaq News From Sol Strategies
Solana (SOL) fell 1.21% to $143.38 after a failed breakout and declining momentum, even as Sol Strategies moved to list on Nasdaq to expand its Solana strategy.

What to know:

  • Solana (SOL) fell 1.21% to $143.38 after losing momentum above $147.80, ending near session lows despite strong institutional support.
  • Canadian firm Sol Strategies filed with the SEC on June 18 to list on Nasdaq under the ticker STKE, aiming to fund its Solana ecosystem strategy.
  • The firm holds more than 420,000 SOL, valued at over $61 million, but price action shows bears remain in control near critical support levels.

Solana’s native token, SOL , dropped to $143.38 Tuesday, down 1.21%, closing near the day’s low after failing to hold above $147, according to CoinDesk Research's technical analysis model.

The weakness came even as the ecosystem drew fresh institutional backing: Canadian blockchain investor Sol Strategies filed with the U.S. Securities and Exchange Commission on June 18 to pursue a Nasdaq listing under the ticker STKE.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters

While the filing itself is not an immediate market mover, it highlights a growing institutional commitment to Solana’s long-term outlook. Sol Strategies disclosed earlier this month that it holds more than 420,000 SOL, worth over $61 million, and has made SOL the centerpiece of its treasury strategy. The firm is also seeking regulatory approval in Canada to raise up to $1 billion, in addition to an earlier $500 million convertible note issuance in April used to acquire and stake SOL.

Despite these bullish signals, SOL continues to trade defensively. Price action has been confined to a horizontal band for much of the past week, with the most recent breakout attempt above $147.80 failing to generate follow-through. Bears regained control during the final hours of trading, pushing SOL below the $144 psychological support. With price trending below major moving averages and volume tapering off mid-session, sentiment remains fragile even as long-term backing intensifies.

Technical Analysis Highlights

  • SOL traded in a 24-hour range from $143.23 to $147.80, a 2.83% swing.
  • Resistance held at $147.80 after a failed breakout during the 22:00 UTC candle on June 18.
  • Price declined steadily to $143.38, closing near the low after weak recovery attempts.
  • Sellers were active between 13:46–14:00 UTC, with a drop from $144.62 to $143.38 on strong downside momentum.
  • The $144–$145 zone remains critical; failure to reclaim it may open a path toward deeper support near $140.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

More For You

Total Crypto Trading Volume Hits Yearly High of $9.72T

Exchange Review August

Combined spot and derivatives trading on centralized exchanges surged 7.58% to $9.72 trillion in August, marking the highest monthly volume of 2025

What to know:

  • Combined spot and derivatives trading on centralized exchanges surged 7.58% to $9.72 trillion in August, marking the highest monthly volume of 2025
  • Gate exchange emerged as major player with 98.9% volume surge to $746 billion, overtaking Bitget to become fourth-largest platform
  • Open interest across centralized derivatives exchanges rose 4.92% to $187 billion

Больше для вас

Memecoins Are No Longer a Joke, Galaxy Digital Says in New Report

Abstract digital illustration representing the memecoin landscape

Galaxy’s Will Owens says memecoins have become a lasting part of crypto, reshaping culture, trading and infrastructure while fueling activity on Pump.fun.

Что нужно знать:

  • Galaxy Digital says memecoins are now a permanent fixture of crypto, with cultural and economic weight.
  • The report highlights Pump.fun as a catalyst for explosive memecoin activity.
  • Owens argues memecoins are shaping infrastructure by driving liquidity, fees, and experimentation across blockchains.