Solana Hits $147 Before Pullback: What Happened?
Solana (SOL) briefly surged above $147, driven by a notable increase in intraday trading volume that topped 1.22 million during the peak hour. However, the momentum was short-lived as the price reversed and settled around $144.04, marking a 0.62% daily decline.
The session high of $147.98 was recorded between 13:43 and 13:46 UTC, before facing strong resistance at the $147.90–$148.00 zone. Immediate support was found near $143.02, with a tighter support band forming around $146.70.
Ryan Watkins: Solana Will Lead the ‘Tokenization of Everything’
In a significant development, Ryan Watkins, co-founder of Syncracy Capital, reaffirmed his long-term bullish outlook on Solana. In a post on June 25, he stated that Solana is positioned to lead the tokenization of real-world assets, marking a key shift in global capital markets.
Watkins, who had previously described the battle between Solana and Hyperliquid as the “cryptoeconomy’s defining rivalry,” reiterated that Solana could evolve into a $100B to $500B platform. He sees Hyperliquid dominating perpetual futures, while Solana spearheads next-gen financial infrastructure.
Rising Institutional Engagement Signals Confidence
Solana’s strength isn’t just technical. CME Futures volume recently hit an all-time high of 1.75 million contracts, signaling growing institutional involvement. Analysts view this as a sign of maturing market structure and deeper engagement from hedge funds and asset managers.
These metrics reflect a broader narrative around Solana’s role in enabling onchain U.S. equities and tokenized assets, a direction increasingly embraced by global finance.
Technical Overview and Outlook
- 24-hour range: $145.09 to $147.45 (3.47% volatility)
- Key support: $143.02, followed by $146.70
- Resistance band: $147.90 to $148.00
- Short-term gain: From 13:06 to 14:05 UTC, SOL rose 0.71%
While the breakout above $147 was brief, technical strength around the $144 level and elevated futures volume suggest underlying bullish momentum remains intact. Traders are watching closely for another potential retest of the $148–$150 resistance zone.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.