Key Takeaways
- Canadian asset manager Sol Strategies filed with the SEC to list on Nasdaq, aiming to offer institutional exposure to Solana-based assets—boosting investor confidence.
- Bullish on-chain signals and rising open interest suggest SOL could rally toward $160, but a breakout depends on fresh demand overcoming current resistance.
Solana (SOL) may be on the cusp of a fresh rally as renewed institutional interest adds momentum to the altcoin’s recent recovery.
A key catalyst is a Form 40-F filing submitted to the U.S. Securities and Exchange Commission (SEC) on June 18 by Canadian asset manager Sol Strategies—a firm dedicated exclusively to Solana-based assets. The filing, aimed at securing a listing on the Nasdaq, signals an intent to offer institutional investors a regulated avenue for gaining exposure to Solana. While the listing still awaits approval, the move has sparked renewed optimism among SOL holders.
This regulatory development coincides with increasingly bullish on-chain signals. According to Coinglass data, Solana’s liquidation heatmap reveals a dense cluster of liquidity forming around the $160 price level. Liquidation heatmaps are critical tools for traders, identifying areas where leveraged positions could trigger significant market moves.
Such liquidity clusters often attract price action, as markets tend to gravitate toward these zones to initiate liquidations or open new positions. The formation of a bright zone at $160 suggests strong trader interest, hinting that SOL could soon rally toward this level.
Adding to this momentum, SOL’s open interest (OI) in futures markets has risen 3% in the past 24 hours—an indicator of growing capital inflows and trader conviction regarding a potential upside move.
Currently, SOL is trading within a tight range, with resistance at $153.59 and support at $142.59. A decisive breakout above resistance could pave the way for a test of the $160 mark. However, if buyers fail to sustain momentum, SOL may risk falling back toward its support zone—or even lower to $134.68—as the second quarter draws to a close.
As institutional interest and leveraged participation grow, all eyes will be on whether Solana can harness this fresh demand and turn it into a breakout rally.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
Also Read: Solana Investors Accumulate as SOL Holds $146 Support
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
