The Solana price slipped 2% in the past 24 hours, falling to $145.17 on a trading volume that plunged 10% to $3.6 billion.
The SOL price tumble comes despite Sol Strategies, a Canadian crypto firm, planning to list on the Nasdaq under the ticker “STKE.” The company already trades in Canada and owns over 420,000 SOL tokens, making it a major holder of Solana. It will follow Canadian rules, which are more flexible than the U.S. ones.
Sol Strategies wants to grow as a digital asset investment firm, focusing on new blockchain tech and Solana’s role in tokenization. It has 172.2 million shares and other securities that could attract investors after its planned U.S. listing.
Since it qualifies as a “foreign private issuer,” it can skip some U.S. rules and will keep using Canadian governance practices, which are less strict. The company also warned about risks like unclear crypto laws, price swings, and how certain tokens might be regulated.
In May, the company filed to raise to $1 billion in the future. It also got a $500 million loan to buy and stake more SOL. Sol Strategies is also working with Superstate to explore putting its shares on the Solana blockchain, one of the first efforts to move public shares fully on-chain.
Solana (SOL) Price Holds Key Support – Big Move May Be Coming
Solana (SOL) is trading at $145.56 after slipping 0.53% today. But even with this small drop, the chart shows that SOL might be getting ready for a strong move upward.
In late 2024, SOL saw a sharp rise, climbing along a parabolic curve before hitting resistance near $200. After that, the price dropped inside a bearish channel, falling back to the support zone around $125. Since then, it has moved sideways, showing signs of consolidation, a phase where buyers and sellers are balanced.
This consolidation is happening in a key support area that has held firm in the past. If this zone continues to hold, it could act as a launchpad for a breakout.
Solana Bulls Watch $175–$200 Resistance for Breakout Signal
A move above the $175–$200 resistance level would likely attract more buyers, possibly pushing SOL toward $225.
The RSI (Relative Strength Index), a tool that measures price momentum, is around 40. This means the coin isn’t overbought, so there’s still room for growth if buyers return. The RSI is also flattening, which often signals a change in trend could be near.
If SOL breaks below $125, though, it could fall toward $100, where sell-side liquidity exists. But for now, the price structure supports a possible bullish move if current levels hold.
In short, Solana is holding a key support level, and if momentum picks up, a strong breakout to the upside could follow. Traders are watching for a move past resistance to confirm the next big leg up.
