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Reading: Solana’s Price Charts Signal New Downside Phase As Institutional Holdings Hold Steady
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COINTURK NEWS > Solana (SOL) > Solana’s Price Charts Signal New Downside Phase As Institutional Holdings Hold Steady
Solana (SOL)

Solana’s Price Charts Signal New Downside Phase As Institutional Holdings Hold Steady

In Brief

  • Solana’s technical patterns reflect new bearish momentum and critical price targets.

  • Institutions continue to hold sizable SOL ETF positions during this weaker price trend.

  • Long-term confidence remains, but current moves are led by short-term market traders.
İlayda Peker
İlayda Peker 2 months ago
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Solana (SOL), a leading layer-1 blockchain known for its high throughput and rapid settlement times, is drawing close attention from traders as technical signals point to intensified short-term bearish pressure. The project, widely integrated into decentralized finance and NFT ecosystems, has become a barometer for altcoin market sentiment and is often watched by major investors seeking both growth and stability across digital assets.

Contents
Key Technical Levels Trigger Bearish SentimentInstitutional Holdings Stay Robust Despite Lack Of New ETF Inflows

Key Technical Levels Trigger Bearish Sentiment

Recent price action shows SOL completed a corrective wave two and sharply reversed after testing resistance between $87 and $91, a key Fibonacci cluster. This turn fits with Elliott Wave theory—a framework used to identify potential trend shifts—and hints that a third impulsive wave to the downside is unfolding. The $86.90 mark, representing the top of this corrective phase, has become a crucial reference as long as it holds above current levels, traders see the bearish structure continuing.

Strong supply at multiple Fibonacci retracements—38.2%, 50%, 61.8%, and 78.6%—trapped bullish attempts, blocking SOL from regaining mid-range ground. Momentum remains on the downside, signaling that further price weakness is possible if SOL cannot break above these technical barriers. Key downside targets have now formed near $79, with the next significant zones at $76, and then between $74 and $72, historically areas where large buyers have stepped in.

Elliott Wave analysis suggests wave three, if confirmed, could accelerate declines toward these lower supports. Price action dropping under $84 would offer added confirmation of this scenario, while a reversal and breakout above the wave two high could negate the immediate bearish reading.

Institutional Holdings Stay Robust Despite Lack Of New ETF Inflows

Despite the drop in momentum and bearish short-term structure, institutional investors are maintaining significant exposure to SOL through exchange-traded funds. Recent regulatory filings indicate the top thirty institutional players collectively hold $540 million in SOL ETFs, equating to about 4.3 million tokens. Electric Capital tops the list with $137.8 million, while both Goldman Sachs and Morgan Stanley feature among major holders.

In comparison, ETF inflow data for the same period shows Bitcoin and Ethereum added new allocations, while SOL saw no fresh institutional buying through spot ETF channels. Bitcoin added 3,610 BTC and Ethereum picked up 6,325 ETH, underlining that market flows remain concentrated on the top two assets. For Solana, short-term volatility is still governed by spot and derivatives trading rather than ETF-driven demand.

Even as SOL has declined nearly 30% from its previous quarter highs, top institutional holders have refrained from large-scale selling. This positioning is interpreted as a sign of continued long-term conviction in Solana’s prospects rather than purely risk-driven trading behavior. The approach by these large players points to strategic accumulation rather than rapid turnover.

A broader shift, where institutional investment grows alongside ecosystem adoption, could eventually support Solana’s transition from a volatile altcoin to a more foundational blockchain asset. Institutional endorsement may become increasingly important in stabilizing price moves if speculative excesses persist elsewhere in the market.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Solana dips below $84 with risk of fall to $67

İlayda Peker 12 March, 2026 - 4:33 am 12 March, 2026 - 4:33 am
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By İlayda Peker
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