Solana’s native token, sun
dropped to $ 143.38 Tuesday, down 1.21%down, closing near today’s low after not complying with over $ 147, according to Coindesk Research’s technical analysis model.
The weakness came, even when the ecosystem withdrew fresh institutional support: Canadian blockchain -investor sun strategies submitted to the US Securities and Exchange Commission on June 18 to pursue a NASDAQ list under Ticker Stke.
While the archiving itself is not an immediate market game, it highlights a growing institutional obligation to Solana’s long -term prospects. Sun strategies revealed earlier this month that it has more than 420,000 sun, worth over $ 61 million, and has made the sun the centerpiece of its Treasury strategy. The company is also looking for regulatory approval in Canada to raise up to $ 1 billion, in addition to a previous $ 500 million convertible note issue in April used to acquire and spell sun.
Despite these bullish signals, sun continues to act defensively. Price action is limited to a horizontal tape for large parts of the last week, with the latest breakout attempt over $ 147.80 that does not generate follow-up. Bears regained control during the last trade hours and pushed sun under the $ 144 psychological support. With price that is trending under greater movement average and volume from the middle of the session, the mood remains fragile even when prolonged support is intensified.
Technical analysis highlights
- Sun acted in a 24-hour range from $ 143.23 to $ 147.80, a 2.83% turn.
- Resistance held at $ 147.80 after a failed breakout during the 22:00 UTC light on June 18th.
- The price dropped steadily to $ 143.38 and closed near the low after weak recovery attempts.
- Sellers were active between 13: 46–14: 00 UTC, with a fall from $ 144.62 to $ 143.38 on strong downward momentum.
- Zone of $ 144- $ 145 remains critical; Failure to recover it can open a path toward deeper support near $ 140.
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