Solana (SOL) at a Crossroads: Will Wall Street’s Embrace Spark a Reversal or Deeper Plunge?

Solana's bleeding price chart meets institutional FOMO—a classic crypto showdown.

The Institutional Wildcard

Hedge funds are accumulating SOL like digital hoarders during a fire sale. Coinbase's new SOL staking product saw $47M inflows in 72 hours. But will the 'smart money' narrative hold when BTC ETFs are sucking up all the oxygen?

Technical Reality Check

The 200-day MA just turned into a ceiling. Network upgrades cut transaction costs by 60% last quarter—too bad traders only care about the -34% YTD price action.

The Cynic's Corner

Nothing reverses a downtrend faster than VCs needing to unload bags before their fund's lockup expires. Solana's real test comes when the 'backing' turns into exits.

TLDR

• Solana (SOL) fell 1.21% to $143.38 after failing to break above $147.80 resistance level
• Sol Strategies filed with SEC to list on Nasdaq under ticker STKE, holding over $61 million in SOL tokens
• VanEck’s proposed spot Solana ETF (VSOL) appeared on DTCC’s active list, signaling potential launch
• Weekly losses reached nearly 8% with SOL currently trading around $145.16
• Technical analysis shows falling wedge pattern that could signal potential rebound if resistance breaks

Solana’s native token continues to face downward pressure despite growing institutional interest from traditional finance companies.

The cryptocurrency dropped 1.21% to $143.38 on Tuesday. This decline came after SOL failed to maintain levels above $147.80 during recent trading sessions.

Trading volume decreased by approximately 4.07% over the past 24 hours. The total trading volume reached $3.51 billion during this period.

Canadian blockchain investment firm SOL Strategies filed paperwork with the U.S. Securities and Exchange Commission on June 18. The company seeks to list on Nasdaq under the ticker symbol STKE.

Breaking: @solstrategies_ files FORM 40-F with the US #SEC to trade on the US @NasdaqExchange under symbol "STKE" ("stake")

Sol Strategies run by superstar @LeahWald and CTO @maxekaplan ex Kraken have been acquiring $SOL as their treasury asset, aquiring solana Validators and… pic.twitter.com/wk0GQw8yoe

— MartyParty (@martypartymusic) June 18, 2025

Sol Strategies holds more than 420,000 SOL tokens in its treasury. The current value of these holdings exceeds $61 million based on recent prices.

The firm previously disclosed plans to raise up to $1 billion through regulatory approval in Canada. Sol Strategies also completed a $500 million convertible note issuance in April to acquire and stake SOL tokens.

Technical Patterns Show Mixed Signals

Price action has remained confined to a horizontal trading band over the past week. SOL traded in a 24-hour range between $143.23 and $147.80, representing a 2.83% swing.

Resistance levels held firm at $147.80 after a failed breakout attempt. The breakdown occurred during the 22:00 UTC candle on June 18.

Technical analysts have identified a falling wedge pattern on Solana’s 3-day chart. This pattern typically indicates a potential price reversal to the upside when properly executed.

The cryptocurrency currently trades below the key resistance level at $157. SOL also remains under the 50-day Simple Moving Average.

If buyers can push the price above these technical levels, SOL could target $180 or $200. Conversely, a break below the 200-day Simple Moving Average could lead to further declines.

Strong support levels are expected between $125 and $130. The $144-$145 zone remains critical for near-term price direction.

ETF Development Creates Optimism

VanEck’s proposed spot Solana ETF has appeared on the DTCC’s active and pre-launch list. The ETF will trade under the ticker symbol VSOL if approved.

This listing indicates that key infrastructure components are already in place. Trade processing and asset storage systems have been established for the potential product.

VanEck’s ethereum ETF followed a similar development path before launching. The appearance on the DTCC list represents a meaningful step toward final approval.

If approved, this WOULD become the first spot Solana ETF available to U.S. investors. Industry experts believe such approval could attract institutional investment flows.

The development may encourage other financial firms to create similar Solana-based investment products. It also suggests regulators are becoming more receptive to cryptocurrency ETFs beyond Bitcoin and Ethereum.

Price predictions for Solana vary among different analysis firms. DigitalCoinPrice expects SOL to potentially reach $320.26 by the end of 2025.

Changelly provides a more conservative outlook with a maximum price target of $154.86 for 2025. Their analysis projects an average price of approximately $155.32 per token.

For June 2025 specifically, predictions suggest a ceiling of $147.75. This target sits close to current trading levels with a projected return of 2.1%.

Weekly losses have reached nearly 8% as bearish sentiment persists. SOL currently trades at $145.16, down 0.70% from the previous session.

VanEck’s spot Solana ETF (VSOL) appeared on DTCC’s active list while Sol Strategies filed to list on Nasdaq under ticker STKE.