Solana News Today: Institutional Bet on Solana: Will $320 Be Next or $160 Correction Loom?

Solana’s price trajectory has sparked contrasting forecasts from analysts, with some projecting a potential drop to $160 due to a rising wedge pattern on technical charts, while others remain bullish on the asset, citing institutional interest and network upgrades. The Solana blockchain is currently trading around $202, with key resistance levels at $233 and $262.92, and a final Fibonacci target of $320 within reach if volume supports further gains. The Adam and Eve chart pattern has been identified as bullish, with a breakout above the neckline at $217.93 confirming buyer strength and continued accumulation by institutional players. However, a rising wedge pattern has also been flagged as a bearish formation, suggesting the possibility of a correction to $160 if the asset fails to break above key resistance levels. Institutional capital continues to flow into the Solana ecosystem, with Sharps Technology recently committing $400 million to purchase 2 million SOL tokens. Additionally, Galaxy Digital, Jump Crypto, and Multi-coin Capital plan to pool $1 billion to create one of the largest Solana treasuries. These moves highlight the growing confidence in Solana’s scalability and speed, particularly with the recent Alpenglow upgrade, which enhances the network’s performance to near web2 speeds. The approval of the Nasdaq-listed vehicle SOL Strategies, which began trading under the ticker STKE on September 9, 2025, further underscores Solana’s growing institutional credibility. The firm, which raised $500 million in April to buy SOL tokens and run validators, provides mainstream investors with a traditional brokerage-based avenue to gain exposure to the blockchain without engaging directly with crypto exchanges. CEO Leah Wald emphasized that the listing validates Solana’s ecosystem and is expected to attract more institutional capital, which could drive broader adoption and price appreciation. Despite these bullish fundamentals, the technical outlook remains mixed, with the rising wedge pattern indicating a potential pullback. Analysts caution that unless Solana can decisively break above the $203–$204 resistance range and maintain strong volume, it may face downward pressure toward $160. This scenario highlights the need for close monitoring of volume and momentum indicators to determine whether the asset can sustain its upward momentum. The broader cryptocurrency market has experienced volatility in recent months, with Solana having previously seen a 70% decline at one point this year. However, the current rally has restored much of its value, and continued institutional interest, combined with network upgrades, suggests the blockchain is well-positioned for long-term growth. The ultimate direction of Solana’s price will depend on whether it can overcome its technical hurdles and maintain consistent buying pressure from both institutional and retail investors. Source: [1] Solana Price Eyes $320 as SOL Strategies Gains Nasdaq Approval (https://coincentral.com/solana-price-eyes-320-as-sol-strategies-gains-nasdaq-approval/) [2] SOL Strategies just got NASDAQ approval (https://www.reddit.com/r/solana/comments/1n9ixf5/sol_strategies_just_got_nasdaq_approval_this_is/) [3] Solana Faces Possible Drop to $160 Despite Bullish Move (https://www.livebitcoinnews.com/solana-faces-possible-drop-to-160-despite-bullish-move/)