SOL Trades Under $190 Amid Technical Pullback: Institutional Money Keeps Piling In

The Setup - Solana recently retreated from the $205–$206 resistance zone and now trades in the mid-$180s range. - Key support levels next on the radar sit between $172–$176, with a deeper floor potentially emerging around $160. - Major institutions including Pantera Capital, Galaxy Digital, and Jump Crypto are simultaneously mobilizing billions to establish positions on Solana’s ecosystem.

Institutional Investors Double Down While Price Consolidates

Despite near-term price weakness, Solana has attracted serious institutional capital. Pantera Capital is in the process of structuring a $1.25 billion fund for Nasdaq listing, with Solana serving as a primary holding. The deployment begins at $500 million, followed by an additional $750 million raise through warrant mechanisms, per reporting from The Information.

The broader institutional narrative extends further. Galaxy Digital, Jump Crypto, and Multicoin Capital have partnered to raise $1 billion specifically for a Solana-focused reserve, with Cantor Fitzgerald managing the fundraising effort alongside support from the Solana Foundation. Separately, Sharps Technology announced a $400 million private placement backed by Pantera and ParaFi Capital to construct a digital asset treasury anchored on Solana infrastructure.

This coordinated capital deployment signals that major players view current weakness as an opportunity rather than a warning signal, suggesting confidence in Solana’s longer-term trajectory.

Technical Pattern Sets Up Potential Multi-Leg Advance

From a charting perspective, the current consolidation follows a substantial 20% run-up that encountered resistance around $205–$206. Analyst Ali Martinez has identified an ascending triangle formation on the 12-hour timeframe, characterized by successive higher lows dating back to March 2025 and repeated rejection attempts near the $205–$207 band.

The technical setup indicates accumulating pressure beneath flat resistance. Once price breaks decisively above $207 with accompanying volume confirmation, Fibonacci extension methodology projects the next resistance targets to emerge at $250, then $277, and ultimately $320.

Support Zones and Immediate Price Action

Crypto analyst BitGuru highlights that the current pullback has positioned SOL within a mid-zone lacking immediate overhead support. The next critical demand area unfolds in the $172–$176 band, which previously functioned as a base for the preceding uptrend. A decisive price reaction at this zone could signal the end of the retracement phase.

Should this support fail to hold, traders should monitor $160 as the subsequent support level. The asset remains in a short-term corrective state, awaiting clear evidence of renewed buying conviction at lower price points.

Current market dynamics suggest patience may be rewarded, especially given the parallel institutional capital mobilization happening at the ecosystem level. The combination of technical setup potential and institutional conviction creates a scenario where near-term consolidation could precede a more substantial advance toward the projected upside targets.