Solana price surges 3% as bulls challenge bears after SPCX token debut

The Solana price has started to move again, with weekly gains above 4%.

This recent Solana price trend comes at a time when the SpaceX IPO token, SPCX, has gone onchain on Solana. This new momentum has made market participants weigh in on where the Solana price will target in the next few days as bulls take the current limited lead. 

Solana’s price climbs 3.38% 

According to CoinMarketCap data at the time of press, Solana’s price traded at $67.73, up 3.38% over the past 24 hours. The price began the session near $65.30 and moved sharply higher early in the period. Following that advance, SOL traded within a relatively narrow range around the $66.7 level. Several short-term fluctuations appeared throughout the session, although the broader movement remained upward.

Source: CoinMarketCap

Midway, the price briefly slipped toward the $66.0 area before recovering. It then returned above $66.5 and continued moving within a stable range. Later, SOL recorded another upward move that pushed the price beyond $67.0. The rally accelerated during the final section of the session and lifted the token above $68.5.

After reaching that intraday peak, the price retreated and gave back part of the advance. However, the decline remained limited, and SOL stayed above earlier trading levels. The token then stabilized near $67.0 before posting another moderate recovery. By the end of the observed period, SOL traded at $67.73, maintaining most of the gains recorded during the session. 

SpaceX tokenized shares launch on-chain. 

As previously reported by crypto.news, the ongoing Solana price movement comes as the project has become the foundation for a new tokenized SpaceX product. Backpack and Sunrise recently launched SPCX, a blockchain-based asset backed by underlying SpaceX shares. 

The product allows eligible users to convert tokenized holdings into actual shares through regulated brokerage partners. At the same time, users can transfer SPCX across supported Solana platforms like other digital assets. The launch places Solana at the center of a tokenized equity framework that connects traditional securities ownership with onchain trading. 

According to the companies, SPCX supports trading, redemption, and self-custody through compatible Solana applications. The rollout also coincides with SpaceX’s Nasdaq debut that happened today, allowing tokenized and traditional share markets to operate simultaneously. As a result, Solana now supports another high-profile real-world asset use case as tokenized securities continue expanding into private equity markets. 

Solana bulls test bears after months of pressure 

According to a TradingView technical analysis, bears have controlled the market for most of the observed period. The red trend line remained below the green line for several months, reflecting sustained bearish pressure. During that stretch, bearish signals appeared frequently, while bullish signals failed to produce lasting reversals. Each recovery attempt lost strength quickly, allowing bears to maintain lower highs across the trend.

Source: TradingView (SOL/USD)

The regression channel on the right side of the chart reinforces this bearish structure. Price continued moving lower within the channel, confirming that sellers remained in control. However, the most recent signals reveal a change in behavior. Bullish markers have started appearing more frequently near the lower boundary of the channel. At the same time, the distance between bullish and bearish signals has narrowed.

The latest candles show bulls defending an area that previously attracted strong selling pressure. The indicator also displays a fresh bullish pin bar near recent lows. While bears still hold the broader trend advantage, their momentum has weakened compared with earlier months. If bullish signals continue to increase and the red trend line begins to flatten, bulls could challenge the current bearish structure and attempt a trend reversal.