Solana’s native token, Sol
According to the technical analysis model of Coindesk Research, after failing to be above $ 147, near the low of the day, 1.21%below the day, $ 143.38 fell on Tuesday.
Weakness also arrived because the ecosystem attracted fresh institutional support: Canadian blockchain investor Sol Strategies Filed On June 18, to carry forward a natural listing under the Ticker Steke with the US Securities and Exchange Commission.
While the filing itself is not an immediate market proposer, it highlights a growing institutional commitment to Solan’s long -term approach. The SOL strategies revealed earlier this month that it holds more than 420,000 SOLs, which costs more than $ 61 million, and has made Sol the focal point of its treasury strategy. The firm is demanding regulatory approval to increase $ 1 billion in Canada, in April, in addition to issuing $ 500 million convertible notes of $ 500 million, Sol was used for acquisition and stake.
Despite these rapid signs, Sol continues to trade defensively. The price action is limited to a horizontal band for most time of the previous week, the most recent breakout attempt has failed to generate a follow-through above $ 147.80. The bear gained control during the last hours of trading, pushed Sol below $ 144 psychological support. The major moving averages and trending below the price below the volume, the volume from the middle-satisfied, the Bhavna remains delicate, even with prolonged banking intensifying.
Technical analysis highlights
- Sol traded in the 24-hour range in the range of $ 143.23 to $ 147.80, 2.83% swing.
- On June 18, resistance was held at $ 147.80 after a unsuccessful breakout during the 22:00 UTC candle.
- Following weak recovery efforts, the price declined rapidly to $ 143.38.
- The sellers were active between 13: 46–14: 00 UTC, with a decline from $ 144.62 to $ 143.38 at strong negative speeds.
- $ 144- $ 145 zone is important; Failure to reconstruct it can open a way towards deep support near $ 140.
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