Solana Price Stalls as Alpenglow Upgrade and Solaxy Presale Drive Outlook
Solana (SOL) has traded in a $140–$160 range since late May, dipping to $145 on renewed Middle East tensions. After failing to hold above $147.80, SOL closed near session lows amid strong $4.2 billion trading volume. Technical indicators show resistance at $147.80 and key support near $144, with RSI and MACD in oversold territory, signaling a potential breakout. Canadian institutional investor Sol Strategies filed to list on Nasdaq under ticker STKE, holding over 420,000 SOL and planning a treasury-focused fundraise. Core fundamentals remain solid: $8.3 billion in TVL, the upcoming Alpenglow consensus upgrade and Firedancer validator aim to boost speed and security later this year. Meanwhile, Solaxy (SOLX), Solana’s first Layer-2 network, raised $54.8 million in its presale and promises ultra-low fees, its own DEX and launchpad, and a 40% token burn. These developments underpin forecasts of $300 by Q4 and $400 by year-end.
Bullish
The convergence of technical oversold signals near key support levels, combined with high trading volume, points to a potential short-term rebound in SOL’s price. Institutional moves like Sol Strategies’ Nasdaq filing and strong ecosystem fundamentals—$8.3 billion TVL, upcoming Alpenglow and Firedancer upgrades—support long-term growth. Solaxy’s successful $54.8 million presale adds further bullish momentum by expanding layer-2 capabilities and reducing token supply through burns. Together, these factors create a favorable outlook for both immediate and sustained SOL price gains.