According to James Seiffart, an analyst at Bloomberg Intelligence, the price of Solana was around $87 as institutional demand for Solana ETFs continued to grow, and new filings show that about 30 institutions have about $540 million in Solana ETFs.
Conclusion
- About 30 institutional investors have accumulated about $540 million in exposure to the Solana ETF, which is led by firms such as Electric Capital and Goldman Sachs.
- Solana is currently trading around $87 and is consolidating in the $80-$90 range after a long uptrend earlier this year.
- Technical indicators suggest that the selling pressure is easing and the resistance between $90 and $95 is likely to open the door to the $100 level.
A breakdown of the 13F filings shows the mix of crypto funds, market makers and large Wall Street firms involved in the product. Venture firm Electric Capital Partners led the way with about $137.8 million, followed by Goldman Sachs with about $107.4 million.
Other notable buyers include Elequin Capital, SIG Holding, Multicoin Capital, Morgan Stanley and VanEck Associates.
Recommendations suggest that institutional confidence in Solana (SOL) is increasing, despite significant volatility following the launch of the ETF product. Analysts note that almost half of the ETF holders are already identified through the proposals, which is a relatively high level of transparency for such young crypto ETFs.
The institutional flow also coincided with renewed network activity and strong trading volume in the Solana ecosystem.
Solana price analysis
Based on the attached daily chart, SOL is currently trading around $87, indicating a modest recovery after weeks of sideways consolidation.
The chart shows that Solana has been in a long downtrend since January, making a series of lower highs before stabilizing in early February. After a sharp drop from $130 earlier in the year, the asset looks set to build a base between $80 and $90.
That range is consistent with broader market observations that show Solana consolidating around $76 to $90 for more than a month, with buyers steadily entering the lower bound.
Basic level of support
- $80 – $82: An immediate support zone where buyers repeatedly defended the price.
- $75 – $76: Secondary support if the current floor is damaged.
- $70 area: Essential psychological support during broader market corrections.
Basic level of resistance
- $90: Strong resistance in the short term and above the current consolidation range.
- $95 – $100: Target the next breakout if the momentum strengthens.
The Accumulation/Distribution line on the chart is flattening, indicating that the selling pressure has eased and investors can gradually accumulate in the consolidation phase.
Meanwhile, the 50-day moving average is near $94 and acts as dynamic resistance. A decisive break above this level would likely confirm a short-term reversal.
If institutional ETF demand continues to grow and SOL rises above $90 to $95, analysts see a possible move to the $100-$105 zone in the near future.
However, failure to hold the $80 support zone could invalidate the recovery attempt and expose Solana to another decline to the $70 range.
