“SOL Drops Below $144 as Sol Strategies Looks to Expand Exposure via Nasdaq.”

Solana Slips Below $144 as Sol Strategies Targets Nasdaq Listing and Institutional Expansion

Solana’s SOL token fell beneath the $144 mark on Tuesday despite signals of growing institutional interest. Canadian blockchain investment firm Sol Strategies has filed paperwork with the U.S. Securities and Exchange Commission to list shares on the Nasdaq under the ticker STKE, highlighting expanding institutional engagement in the Solana ecosystem.

SOL ended the day at $143.38, shedding 1.21% after struggling to maintain levels above $147, according to technical analysis from CoinDesk Research.

While Sol Strategies’ planned Nasdaq debut hasn’t triggered immediate price gains for SOL, it reflects confidence in Solana’s long-term outlook. Earlier this month, Sol Strategies revealed it holds more than 420,000 SOL, valued at over $61 million, as part of its treasury allocation. The firm is also seeking Canadian regulatory approval to raise up to $1 billion, following a successful $500 million convertible note sale in April that funded SOL acquisitions and staking activities.

Nevertheless, SOL’s price action remains subdued. Attempts to break past $147.80 fizzled out, and bearish pressure resurfaced late Tuesday, pulling prices below the critical $144 threshold. Trading volume tapered off mid-session, leaving SOL vulnerable as it slipped under key moving averages, suggesting caution among market participants even amid strong institutional backing.

Technical Analysis Highlights:

SOL traded in a 24-hour range of $143.23 to $147.80, a swing of about 2.83%.
Resistance near $147.80 proved firm after a failed breakout attempt during the 22:00 UTC candle on June 18.
SOL closed at $143.38, marking the session’s low, as rebound efforts stalled.
Significant selling occurred between 13:46 and 14:00 UTC, driving the price from $144.62 down to $143.38 amid increased sell orders.
The $144–$145 range remains pivotal; sustained weakness below this level could open the door to deeper declines toward support around $140.