Solana (SOL) Struggles Below Resistance Even as Treasury Investments and ETF Buzz Grow

The number 6 crypto asset Solana (SOL) may be gathering plenty of institutional interest and regulatory tailwinds, but its price performance is telling a more cautious ￰0￱ Reading: Why This Crypto Analyst Now Believes XRP Price At $21 Is No Longer A Dream While fundamentals are hitting new highs, SOL continues to languish below key resistance levels, suggesting a breakout may be further off than some ￰1￱ Treasuries & Solana ETF Momentum Are Material Solana’s infrastructure is drawing serious ￰2￱ firms now hold several millions of SOL tokens on their books, according to Coingecko data , institutional treasuries already control roughly 13.5 million SOL, valued at about US$2.56 billion (2.6% of circulating supply).

At the same time, regulatory breakthroughs are shifting the backdrop for institutional ￰3￱ Kong’s regulator has approved the first spot Solana ETF, set to list on the Hong Kong Stock Exchange on October 27 in multiple ￰4￱ developments signal growing legitimacy for Solana’s ecosystem and may lay the groundwork for longer-term accumulation, yet they have not yet triggered the explosive price rally many are hoping ￰5￱ Price Action: Solid Foundations, Weak Short-Term Breakout Despite the strong narrative, SOL’s price is clearly struggling to stick above significant resistance ￰6￱ trading around the $185-190 range shows the token repeatedly rejected near the US$200 ￰7￱ highlight that unless a decisive close above $195 occurs, the immediate upside remains ￰8￱ below $185 opens the door to near-term support tests around $175.

Technical readings reinforce the ￰9￱ indicators remain muted and key moving averages sit above current levels, implying that for now the market is consolidating rather than charging ￰10￱ this dynamic, many analysts believe that while Solana’s eventual upside may be considerable, the timing of that move may be toward 2026 rather than ￰11￱ Investors Should Take Away For long-term investors, the setup for Solana remains ￰12￱ combination of institutional treasuries, network throughput advantages, and regulatory advances all point to growing structural relevance for the token. However, if you’re seeking a rapid breakout, the current chart suggests ￰13￱ SOL cracks above major resistance (roughly $195-200) with conviction, the price is likely to remain in consolidation ￰14￱ Reading: Kraken Reports Q3 Revenue Surge To Nearly $650 Million Ahead Of Anticipated US IPO Key levels to watch: Support : $185 and US$175 Resistance : $196-200Momentum is likely to pick up only when one of these thresholds is broken with strong volume and ￰15￱ image from ChatGPT, SOLUSD chart from Tradingview