“SOL Trades Below $144 Despite Sol Strategies Plotting Further Nasdaq Engagement.”

Solana Dips Below $144 Despite Institutional Moves as Sol Strategies Eyes Nasdaq Debut

Solana’s SOL token slipped under $144 on Tuesday, even as institutional activity around the network continued to build momentum. Canadian blockchain investment firm Sol Strategies filed paperwork with the U.S. SEC to list shares on the Nasdaq under the ticker STKE, signaling growing confidence in Solana’s future among professional investors.

SOL ended the day at $143.38, down 1.21% after failing to sustain a push above the $147 mark, based on CoinDesk Research’s technical analysis.

While news of Sol Strategies’ proposed listing hasn’t immediately lifted prices, it highlights broader institutional interest in Solana’s ecosystem. Earlier in June, Sol Strategies revealed it holds more than 420,000 SOL (valued at over $61 million) as part of its treasury. The firm also plans to seek regulatory clearance in Canada to raise up to $1 billion, following its $500 million convertible note sale in April that funded SOL purchases and staking initiatives.

Despite this institutional backing, SOL has struggled to gain traction. Attempts to breach resistance near $147.80 were rejected, with renewed selling pressure pulling prices lower late Tuesday and driving SOL beneath the key $144 support level. A lull in trading volume further weakened price stability, leaving SOL susceptible to additional declines if support levels fail to hold.

Technical Analysis Snapshot:

• SOL traded between $143.23 and $147.80 over the past 24 hours, a 2.83% intraday range.
• Resistance at $147.80 remained firm, rejecting an attempted breakout during the 22:00 UTC candle on June 18.
• SOL closed the session at $143.38, the lowest point of the day, as recovery attempts fell short.
• Significant selling pressure appeared between 13:46 and 14:00 UTC, pushing SOL from $144.62 down to $143.38 on elevated volume.
• The price band between $144 and $145 remains critical; a decisive break below could open the door to a retest of support near $140.