TLDR
- Solana climbed 3.38% to $67.73, extending weekly gains past 4%
- SPCX, a tokenized SpaceX share product, launched on Solana via Backpack and Sunrise
- SOL dropped 36% from its May high near $96 before rebounding over 10% from June lows
- Key resistance sits at $68, with analysts watching $72.57 for a confirmed bullish reversal
- Analyst Crypto Patel noted SOL is trading in the same Fibonacci zone that preceded a 2,200% rally
Solana (SOL) is trading at $67.73 after gaining 3.38% in the past 24 hours, according to CoinMarketCap data. Weekly gains now stand above 4% as buying pressure returned to the market.
The session started near $65.30 before SOL pushed toward $68.50 at its intraday peak. The price pulled back slightly but held most of its gains, settling around $67.73 by the end of the observed period.
This recovery follows a steep drop. SOL fell roughly 36% from its May high near $96 to a June 6 low around $61. The decline triggered over $89 million in long liquidations as leveraged positions were closed out.
Retail traders entered June with a bullish bias, which left the market exposed when SOL broke below the $76 support zone. Large holders also reduced exposure during the decline, adding selling pressure.
SPCX Token Brings SpaceX Shares Onchain
A key development this week was the launch of SPCX, a tokenized asset backed by SpaceX shares. Backpack and Sunrise launched the product on Solana, allowing eligible users to hold, trade, and self-custody tokenized SpaceX equity.
NEWS: @Backpack Securities has launched tokenized SpaceX shares ($SPCX) on @Solana via @SunriseDeFi, allowing users to trade SpaceX stock onchain, with each token backed 1:1 by a real SpaceX share. pic.twitter.com/Rz963shsf4
— SolanaFloor (@SolanaFloor) June 11, 2026
Users can also convert their SPCX tokens into actual shares through regulated brokerage partners. The rollout coincides with SpaceX’s Nasdaq debut, meaning tokenized and traditional share markets are now running side by side.
The launch adds another real-world asset use case to the Solana network, placing it at the center of a growing tokenized securities market.
Analyst Crypto Patel pointed out on X that SOL is currently trading in the 0.5–0.618 Fibonacci retracement zone — the same range it occupied before a 2,200% rally in a prior cycle. Patel raised the question of whether SOL could reach $1,000 if an altcoin season arrives, noting the accumulation zone sits between $40 and $60.
I Just Want To Remind You: The Last Time $SOL Traded Between The 0.5–0.618 Fibonacci Retracement Zone, It Went On To Rally Over 2,200%.
Today, Solana Is Once Again Trading Inside That Same Key Range.
Accumulation Zone: $40–$60
If Alt Season Arrives, Will #SOL Be Able To Reach… pic.twitter.com/l002CXoeTB— Crypto Patel (@CryptoPatel) June 9, 2026
Technical Setup Points to $76 Target
On the daily chart, Solana has been forming a falling wedge since its January high near $145. Technical analysts generally read this pattern as a potential bullish reversal setup when price stabilizes near the lower boundary.
On the four-hour chart, an ascending triangle has formed beneath $68 resistance. A breakout above that level could trigger short liquidations and push price toward $70, with a measured target near $76.
Analyst MCO Global said on X that a true bullish reversal requires a five-wave advance and a break above $72.57, adding: “The chart hasn’t shown that yet. Until it does, this is just support being tested.”
The daily RSI has recovered from oversold territory, and MACD downside momentum has begun to ease. SOL’s next key level remains the $68 resistance zone.
