SOL Falls to $143.38 Despite Institutional Support from Sol Strategies
Solana's native token, SOL, fell to $143.38 on Tuesday, a decline of 1.21%, after failing to maintain levels above $147. The drop occurred despite new institutional interest from Sol Strategies, which filed for a Nasdaq listing under the ticker STKE and holds over 420,000 SOL valued at more than $61 million.
Key points include:
- SOL traded between $143.23 and $147.80 within 24 hours, showing a 2.83% price swing.
- Resistance was established at $147.80 after a failed breakout attempt.
- The price steadily declined to $143.38, closing near the daily low with weak recovery efforts.
- Sellers were active, particularly between 13:46–14:00 UTC, causing a drop from $144.62 to $143.38.
- The $144–$145 zone is critical; failure to reclaim it may lead to deeper support around $140.
Despite institutional backing, SOL's price action remains defensive with sentiment fragile.