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By Siamak Masnavi, CD Analytics|Edited by Aoyon Ashraf
Jun 17, 2025, 2:22 p.m.
- SOL declined 4.24% in the past 24 hours, falling from a peak of $158.54 to $148.68 before stabilizing just below $150, according to CoinDesk Research’s technical analysis model.
- A major sell-off occurred during late U.S. hours, with volume exceeding 2.7 million as price broke below $155 support.
- On Monday, Cantor Fitzgerald initiated coverage on three SOL-holding firms, noting Solana’s technical advantages and developer growth compared to Ethereum.
Solana’s SOL
fell 4.24% over the past 24 hours to trade at $149.46, retreating from a high of $158.54 following a sharp overnight sell-off. Trading volume surged as SOL broke below $155 support late Monday, with the price eventually bottoming at $148.68 before entering a choppy consolidation around the $150 mark.
Despite the short-term pressure, some institutional investors remain optimistic about Solana’s long-term positioning. On Monday, Cantor Fitzgerald launched coverage of three public companies — DeFi Development Corp (DFDV), Sol Strategies (HODL), and Upexi (UPXI) — that hold SOL as a treasury asset. The firm assigned all three “overweight” ratings and emphasized Solana’s technical strength.
STORY CONTINUES BELOW
Cantor’s analysts argued that Solana has outpaced Ethereum in recent developer growth and technical performance, citing on-chain metrics that show higher throughput and lower latency. The report added that firms using SOL as a treasury asset view it as a serious contender to challenge ETH’s dominance, despite ether still having a market cap 2.5 times larger.
While the recent correction has erased much of the weekend’s gains, SOL remains above last week’s support zone. Traders are now watching whether the token can hold the $148–$150 range or if further downside pressure will emerge.
Technical Analysis Highlights
- During the analysis window, SOL-USD dropped 7.0% from $158.804 to $147.746, forming a 24-hour range of 11.058 points.
- The steepest sell-off occurred between 22:00 and 00:00 UTC on volume exceeding 2.7 million SOL, breaking down through $155 support.
- Price later stabilized around $152 and traded in a tightening range between $151 and $154.
- The $152–$153 zone transitioned from support to resistance during the correction, with $148.68 marking the session low.
- At 07:57–07:58 UTC, price dropped from $153.118 to $152.680 on a spike exceeding 150,000 SOL in volume.
- Toward the end of the analysis period, SOL consolidated between $153.400 and $152.680 with declining volatility, signaling hesitation among both bulls and bears.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Siamak Masnavi is a researcher specializing in blockchain technology, cryptocurrency regulations, and macroeconomic trends shaping the crypto market. He holds a PhD in computer science from the University of London and began his career in software development, including four years in the banking industry in the City of London and Zurich. In April 2018, Siamak transitioned to writing about cryptocurrency news, focusing on journalism until January 2025, when he shifted exclusively to research on the aforementioned topics.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
