According to latest data from crypto.news, Solana (SOL) has surged over 20% from its June low of $62.44, reaching $75.60 before pulling back to around $72.50 at press time. The token is currently consolidating losses above $71.80 after briefly reclaiming the 38.2% Fibonacci retracement at $74.55. The recovery follows a relief rally across crypto markets after the U.S. administration announced a peace agreement with Iran and reopened the Strait of Hormuz, helping push oil prices lower and encouraging investors to rotate back into risk assets. SOL is now trading above the critical $75 support level that had been under pressure, though momentum has since faded as the price struggles to maintain higher levels.
According to reports, Forward Industries, the largest publicly traded Solana treasury company, disclosed on June 15 that it had submitted a non-binding, all-stock proposal to acquire rival SOL accumulator Solana Company (Nasdaq: HSDT), offering 0.386 new Forward shares for each HSDT share held — roughly $1.63, a 10% premium over HSDT's prior close of $1.48. However, HSDT directors rejected the bid without any discussion or communication, arguing that opening dialogue served both companies' interests. The rejection marks the latest setback in an increasingly assertive expansion campaign by Forward, which has also tabled similar all-stock offers for SkyAI (Nasdaq: SKYA) at 0.367 shares per SKYA share at $1.55 and Brera Holdings (Nasdaq: SLMT), both of which were rejected. Forward spent roughly $1.59 billion to amass 6.83 million SOL at an average $232, leaving more than $1 billion in unrealized losses with the token trading near $75.
According to crypto.news, capital continued to flow into Solana's growing real-world asset ecosystem, with tokenized stock activity accelerating after the launch of on-chain SpaceX equity products. These developments helped Solana-native tokenized assets surpass key volume milestones and draw fresh attention to the network as a settlement layer for traditional financial products. Corporate treasury demand has remained a tailwind, with recent disclosures showing several public companies adding to their SOL holdings, while takeover discussions among Solana-focused treasury firms kept attention on the asset's long-term balance-sheet appeal. With roughly two-thirds of Solana's circulating supply staked, large spot purchases continue to have an outsized effect on available liquidity, as noted by analysts tracking the network's supply dynamics.
According to crypto.news, the daily chart shows SOL recovering sharply from the June selloff but running directly into resistance near $75.20, which coincides with the Supertrend indicator. A decisive close above that level would represent the first meaningful break above trend resistance since May. Momentum indicators remain mixed, with daily RSI recovering to around 47 after reaching oversold territory near the recent bottom, suggesting selling pressure has eased but bullish momentum has not fully returned. On the four-hour chart, price is consolidating around the 50% Fibonacci retracement level near $71.80 after briefly reclaiming the 38.2% retracement at $74.55. Additional upside targets sit near $77.90 and $83.40 if buyers regain control, while support levels are clustered around $71.80, $69.10, and $65.20. Derivatives data shows sizeable leverage clusters concentrated near $78 on the upside, with another major liquidity pocket around $65-$66, indicating that markets often gravitate toward these zones as leveraged positions accumulate.
According to crypto.news, Federal Reserve Chair Kevin Warsh's first policy meeting has become the market's primary macro focus, with traders closely watching updated rate projections and any indication that borrowing costs could stay elevated longer than expected. Higher-than-expected inflation readings and renewed demand for defensive assets could pressure cryptocurrencies if risk sentiment deteriorates. A stronger U.S. dollar following the Fed decision would likely create another obstacle for speculative assets, including Solana. Analysts are also watching the $75-$78 region closely, with Crypto Coral recently highlighting that SOL had broken down from a bearish flag structure and was retesting resistance near its moving averages. Failure to reclaim that zone could encourage sellers to target support near $69 and potentially the $65 liquidity cluster identified in derivatives markets.
