Solana Price Under Pressure: What's Behind Institutional Accumulation?

Recent market data shows that Solana (SOL) has completed a corrective pullback after touching the $87 to $91 resistance zone, and has experienced a significant downward trend. Technical analysis indicates that this movement conforms to the second wave correction structure in Elliott Wave theory, and the market is brewing a third wave downward trend. The key resistance level is at $86.90. If the price continues to be below this level, bearish forces may further dominate the market.

SOL has been repeatedly blocked by key Fibonacci retracement levels in multiple rebounds, making it difficult to break through technical resistance. The short-term market momentum is biased downward. The next target range is concentrated around $79, with deeper support located in the $76 and $72 to $74 range—these areas have repeatedly formed effective buying support in the past.

It is worth noting that although the price has fallen nearly 30% in the short term, major institutional investors have not reduced their holdings on a large scale. According to the latest regulatory filings, institutions cumulatively hold approximately $540 million worth of SOL through crypto ETFs, equivalent to approximately 4.3 million tokens. Among them, Electric Capital holds $137.8 million, and top financial institutions such as Goldman Sachs and Morgan Stanley have also entered the market. This behavior of continuous accumulation during market downturns reflects the institutions' firm confidence in the long-term value of Solana's underlying technology and ecosystem. Their strategy is more inclined towards long-term investment rather than speculative trading. Overall, although short-term price pressure exists, institutional accumulation against the trend provides solid fundamental support for Solana. With continuous optimization of network performance and continuous expansion of the application ecosystem, SOL is gradually transforming from a high-volatility asset to a more stable blockchain infrastructure.