Calacanis Backs Solana as SOL Tests Major Support Zone
Prominent angel investor Jason Calacanis has expressed his renewed support for Solana (SOL) after previously questioning its utility. In a recent statement, he praised SOL and Bittensor as projects that deliver usable products, contrasting them with Bitcoin.
Calacanis still holds a negative view of Bitcoin-linked Strategy shares, criticizing their financing model and arguing that direct ownership avoids associated risks. He has urged investors to buy Bitcoin directly instead of gaining exposure through StrategyShares.
SOL currently trades near $74 within a key weekly demand zone, with traders watching whether support can hold and the price break its short-term downtrend. A decisive move above the $80 to $84 resistance area could create a path toward $92.91, while a weekly close below $68.44 could expose the lower demand area near $64.