According to @AltcoinGordon, Solana (SOL) is demonstrating resilience by holding key support levels around $144-$145 despite recent market-wide corrections. The price action, which saw SOL trade down to $144.14, is being counteracted by significant institutional interest. Notably, seven spot Solana ETF issuers, including Fidelity and Grayscale, have submitted updated S-1 filings that now include staking provisions, aligning the potential products more closely with Solana's on-chain economics. Additionally, Nasdaq-listed DeFi Development Corp announced a $5 billion equity line of credit to fund further accumulation of SOL for its treasury. While short-term technicals show resistance near $149-$150, these institutional developments provide a strong bullish undertone, contrasting with a more bearish long-term forecast from Standard Chartered which set a $275 year-end price target for SOL.

According to Pentoshi on Twitter, Solana (SOL) reached $187 today and is testing this level as a potential new support. If SOL successfully flips $187 from resistance to support, Pentoshi suggests the next significant price target is $220. Traders are closely monitoring price action at this level for confirmation, as a breakout could trigger increased bullish momentum and attract further capital inflows in the crypto market. Source: Pentoshi (@Pentosh1) via Twitter, May 23, 2025.