Solana (SOL) Price: Institutions Pour Into SOL as Charts Set Up for a Possible Breakout

TLDR

• SOL trades at $85.95, held just above the 20-day EMA at $85.31, with the 50-day EMA at $87.08 acting as resistance since March.
• SOL has broken above a long descending trendline on the daily chart and is now in a retest zone that could confirm a trend change.
• The weekly chart shows $120–$125 as the next major target if SOL breaks its current short-term downtrend.
• Solana’s RWA assets grew from $170M to $2B in 12 months, with 80–100M active wallets and $17B in stablecoins on the network.
• SOL spot ETF cumulative inflows crossed $1B for the first time, with total net assets at $887.92M.

Solana is trading at $85.95 as of April 23, down 1.10% on the day. The price has held just above the 20-day EMA at $85.31, which has acted as support for the past week.

The 50-day EMA at $87.08 remains the key resistance level. Every daily close since March has been rejected at or below this level. The upper Bollinger Band sits at $89.43, with the 100-day EMA further out at $96.63.

On the downside, losing the 20-day EMA on a daily close would bring the middle Bollinger Band at $84.63 into play. Below that, the lower Bollinger Band sits at $79.84, and the February low is near $67.

On the daily chart, SOL has broken above a falling trendline that capped price throughout late 2025 and into early 2026. Chart analysis from CryptoCurb on X shows the breakout happening after several failed attempts, including during the Binance flash crash and Iran war escalation periods.

The price is now sitting near the breakout zone rather than falling back below it. That’s a shift in structure. But the setup only strengthens if buyers hold this area and the broken trendline becomes support.

Institutional Demand Grows

Solana ecosystem executive Nick Ducoff stated that RWA assets on the network grew from $170M to $2B in just 12 months — roughly a 12x increase. Institutions have cited three main reasons: network reliability, 80 to 100 million active wallets for distribution, and $17B in stablecoins already live on-chain.

SOL spot ETF cumulative inflows crossed $1B for the first time. Total net assets now stand at $887.92M, equal to 1.77% of Solana’s market cap. Weekly ETF inflows hit $35.17M last week. April 22 recorded zero daily inflow, but the three prior days combined for $31.32M.

Weekly Chart Points to $120–$125

On the weekly chart, analysis from Rendoshi AI on X shows SOL testing a falling trendline after holding support near $75–$80. The RSI has bounced from near oversold levels, which supports improving momentum but doesn’t confirm a breakout on its own.

If SOL breaks and holds above the weekly downtrend line, the next major resistance area is $120 to $125. A failure to hold would leave SOL ranging above the $75–$80 support zone without a clear recovery trend.

On the 2-hour chart, Solana is trading within an ascending channel that began at the April 2 low near $78. The RSI shows a fresh bull signal at the recent low near $83 — the same pattern that preceded prior bounces. The MACD remains negative at -0.25, meaning momentum has not confirmed the signal yet.

The 2-hour channel lower boundary at $83–$84 aligns with the daily 20-day EMA, making that zone the most important support area to watch going into April 24.

The post Solana (SOL) Price: Institutions Pour Into SOL as Charts Set Up for a Possible Breakout appeared first on CoinCentral.