Solana price stands at a decisive point as institutional demand surges while price action tests key supports, leaving participants anticipating the next breakout move.
Solana’s market story is turning into a fascinating clash between conviction and caution. While institutional investors are pouring billions into CME futures, Solana price on the charts tells a different story, testing supports and hinting at one more dip before any major upside leg.
Institutional Demand Keeps Solana Futures Hot
SolanaFloor highlighted that CME’s Solana futures have recorded over 730K contracts traded since March, representing $34B in notional volume. Open interest now exceeds $2.1B, making Solana the fastest crypto asset to double OI beyond $1B since launch.
Solana’s institutional demand surges as CME futures volumes surpass $34B. Source: SolanaFloor via X
This surge in derivatives participation shows institutional participants are increasingly positioning around Solana, particularly after it became one of CME’s most liquid altcoin contracts. Structurally, this level of open interest growth signals that deep capital flow remains committed to Solana exposure, even through volatility.
Solana Technical Structure Weakens
While on-chain data paints a bullish macro picture, ShangoTrades’ latest chart shows Solana price testing key lower supports around $182 and threatening a move below $180. The structure reflects weakening short-term momentum with clear lower highs forming since the $210 rejection zone.
Solana tests key support near $180 as technical momentum weakens despite bullish on-chain signals. Source: ShangoTrades via X
If the $176 to $172 area fails to hold, the next SOL Solana price liquidity sweep could extend towards $164, putting pressure on the bullish derivative narrative. The divergence between growing institutional exposure and deteriorating chart strength suggests that participants are hedging their exposure rather than chasing the upside.
Analyst Suggests One Final Leg Down
Bren’s latest chart shows Solana price forming a descending channel, where the price remains capped within parallel resistance and support lines. The setup suggests a potential final corrective leg towards the $170 to $180 region before a broader rebound phase commences.
One final corrective leg toward $170–$180 before a potential breakout toward $300. Source: Bren via X
The projection maps a clean sweep of lower liquidity zones, potentially flushing out weak hands before a sustainable move towards $300 unfolds. Structurally, this implies that Solana price may be entering a “washout before breakout” stage, a typical pattern in high-volatility assets where downside completion precedes major upside continuation.
Solana’s On-Chain Liquidity Base Strengthens
According to Tamar, non-USDC/USDT stablecoins on Solana have surpassed $2B in active supply, with consistent month-over-month growth since early Q2. This rise in alternative stablecoin liquidity highlights expanding utility and decentralized collateral flow within the Solana ecosystem. Such on-chain strength despite the emerging weak technical structures is likely to have a positive impact.
Solana’s non-USDC/USDT stablecoin supply surpasses $2B. Source: Tamar via X
Solana Price Prediction: $131 in Focus
Famous crypto analyst Trader Koala’s projection keeps $131 as the main target, based on a clean break of the ascending trendline visible since the 2024 mid-cycle low. The line rejection near $210 marks a clear shift from accumulation to distribution, with a possible retest of $150 to $140 before any recovery attempt.
Solana’s chart targets $131 after breaking its ascending trendline, signaling short-term weakness before recovery. Source: Trader Koala via X
Technically, this setup implies that Solana price remains vulnerable unless it reclaims the broken structure. For now, the path of least resistance stays lower, with broader on-chain strength unlikely to offset short-term technical weakness until major supports re-establish buyer conviction.
Final Thoughts
Solana’s recent pullback appears more corrective than trend-breaking, with price action suggesting a potential final leg towards the $170 to $180 region before momentum can rebuild. The broader Solana price setup still leans structurally bullish, supported by expanding futures activity and stablecoin growth across the network.
Holding this lower range would be key for a rebound phase, as reclaiming the $200 to $210 zone could quickly restore upside momentum. For now, participants are closely watching how Solana reacts within this zone as the next move from here could define the tone for the coming quarter.