Steady price for Solana as $69.85 resistance limits gains

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Solana rises 0.14% as Goldman exits

Highlights

Goldman Sachs liquidated its $108 million position in spot Solana ETFs and trusts, signaling institutional withdrawal from Solana products.
Goldman's exit triggered net outflows from US-listed Solana ETFs, tightening market liquidity and intensifying price swings.
SOL/USD remains under sustained bearish momentum, with technical indicators pointing to high probability of a decline toward the $64.87 to $74.07 range.

Institutional exit sparks supply pressure and capital outflows

Goldman Sachs fully liquidated its $108 million position in spot Solana ETF and trust holdings, removing a major source of institutional capital from Solana-tied investment products, according to Tradingkey. This decisive corporate action has increased downward supply pressure and signals a broader retreat by institutional investors. Tradingkey also reported that the Goldman exit led to net capital outflows from US-listed spot Solana exchange-traded funds, curbing market liquidity and possibly amplifying recent price volatility.

Technical resistance and weak momentum reinforce bearish sentiment

On the H4 timeframe, SOL is positioned below the 20-period moving average at $70.44 and the 50-period moving average at $71.07. On the daily chart, it remains under the 200-period moving average at $96.48, with the Ichimoku Kijun level of $69.85 acting as immediate resistance. The Relative Strength Index (RSI) is at 38.28, reflecting weak momentum. The Average Directional Index (ADX) and the Moving Average Convergence Divergence (MACD) both indicate a sell trend, while the Commodity Channel Index (CCI) also signals a bearish bias. Stochastic RSI is neutral, and Bull/Bear Power shows oversold conditions, confirming dominance by sellers on an intraday basis. The Awesome Oscillator is aligned with this prevailing downside trend.

Downside risk elevated as breakout odds remain low

Over the next 2–3 trading days, a typical volatility band for SOL/USD is expected between $64.87 and $74.07. The probability of a meaningful upward breakout remains very low (less than 20 percent), with the likelihood of further downside far higher. The baseline scenario is continued sideways price action within this corridor. For any bullish reversal to gain traction, SOL will need to clear immediate resistance near $69.85, while a confirmed move below support at $64.87 may accelerate bearish momentum.

Anton Kharitonov, analyst at Traders Union, sees Solana in a weak technical setup. He notes that the Goldman Sachs liquidation is a clear signal of reduced institutional confidence. Short-term momentum and market sentiment remain negative, with downside risk highlighted by multiple technical indicators. "Base case remains rangebound action below immediate resistance at $69.85 — until buyers reclaim that level, I remain defensive."

Earlier, analysts noted that Solana was experiencing persistent bearish momentum due to institutional outflows and elevated downside risk. The current trend not only reinforces this bearish outlook but also makes a decisive move below $64.87 an important threshold for triggering potential accelerated declines in the near term.

Source of Data: SOL Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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