Solana faces continued downside as major asset managers increase participation: weekly outlook

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Solana drops 6.02% this week

Highlights

Solana has dropped 6.02% over the past 7 days, trading at $90.32 and below both short-term moving averages.
The price remains just above long-term support but is at the lower end of its weekly range, with volatility at 11.14%.
Technical signals indicate strong bearish momentum, with Solana expected to trade between $80 and $95.52 in the next 7 days unless it breaks above $98.14 or below $89.02.

Schroders fund launch and validator upgrade drive network developments

Schroders, a global asset manager overseeing $1.1 trillion in assets, launched an emerging markets bond fund on the Solana blockchain via Centrifuge on November 4, 2026, according to CoinDesk. Meanwhile, Solana developers proposed a unified protocol specification to address network risks and enable alternative validator clients, reported CryptoSlate. All Solana validators were also required to upgrade to Agave 4.4.1 before epoch 1079 began on November 6, as covered by CryptoTicker.

Bearish momentum persists as oversold signals hint at rebound risk

On the daily chart, Solana is showing a sustained move lower with a firm trend, reflected in very high probability for further downside. Both RSI at 29.51 and CCI at -124.02 are in oversold territory, suggesting possible selling exhaustion and some rebound potential in the near term. MACD and ADX both favor continued bearish momentum, reinforcing downside pressure. Nearest support sits at $89.02 from the MA-200, while resistance is up at $98.14 near last week’s high, with the Ichimoku Kijun at $101.08 also acting as resistance.

Bearish bias prevails unless resistance breaks in the coming week

For the next 7 days, Solana is expected to trade in a range between $80 and $95.52. There is a very low probability of an increase and a very high probability of a further decrease. The base case is continued trading within this band, with a move above $98.14 signaling a potential bullish reversal. Conversely, a drop below the $89.02 support would likely accelerate further downside toward the lower end of the projected range.

Sholanke Dele, market strategist, notes that Solana has come under renewed downside pressure this week, trading near $90 with a 6% weekly drop. Despite the bearish momentum, Dele observes significant institutional interest, particularly Schroders launching a blockchain-based bond fund, which highlights attention from traditional finance even as technical risks persist. The daily chart remains weak, with both RSI at 29.51 and CCI at -124.02 deep in oversold territory, suggesting potential for short-term relief, but the dominant MACD and ADX signals point to further downside unless support at $89.02 holds. Dele expects Solana to trade between $80 and $95.52 over the coming week, with a base case for further defensive price action unless resistance at $98.14 is reclaimed. "Despite some signs of exhaustion, I see no reason to expect recovery until Solana decisively breaks above $98.14."

Previously it was reported that Chinese authorities intensified their scrutiny of Solana-related activities halting events and investigating the platform's advertising campaign in Shanghai. The recent uptick in institutional engagement and technical updates on the Solana network add a new dimension to the outlook, with traders advised to monitor price action around the critical $89.02 support level for signs of further downside risk.

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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