Solana Sell-Off Tests Key $90 Support as Institutions Hold Back

Solana has suffered a sharp sell-off that has left its weekly chart looking fragile, with price sliding aggressively from higher ranges. According to analysis from AltCoin Việt Nam, SOL is now trading around the $90–93 zone, a critical area for the cryptocurrency. The bounce from this level has so far appeared weak, with trading volume not signaling strong participation from large buyers stepping in to defend the move. This price action reflects sustained bearish pressure, moving lower in what analysts like BitGuru describe as a series of step-down declines.

What stands out most in this downturn is the notable caution from big money. Despite the lower prices, institutional exchange-traded funds (ETFs) have shown little interest in accumulating SOL in this zone. This behavior contrasts sharply with earlier phases of the market, when these same institutions were buying aggressively at much higher price levels. The current lack of institutional support suggests that, for now, the selling pressure may be easing as SOL trades within this key range, but the absence of major buyers leaves the market attempting to form a short-term base without their typical backing.

The cautious stance from institutional players is a defining feature of the current Solana sell-off. Addressing questions about whether institutions foresaw the crash, AltCoin Việt Nam clarified that this is not necessarily the case. Instead, institutional behavior fundamentally differs from that of retail traders. Their investment decisions are driven more by trend structure, liquidity conditions, and capital flows than by attempts to predict exact price bottoms or time the market perfectly.

Firstly, ETFs typically do not employ dollar-cost averaging strategies in the same way retail investors do. When momentum is strong and fund inflows are active, institutions are willing to buy at higher prices to maintain or gain exposure. However, once the prevailing trend breaks and market volatility rises—as seen with SOL—waiting for clarity becomes a higher priority than trying to catch the absolute bottom. For these large players, entering at the right time with renewed momentum matters far more than buying at the lowest possible price.

Finally, as highlighted by AltCoin Việt Nam, ETF accumulation is also directly dependent on capital inflows from their investors. Without fresh money entering these funds, there is little incentive or even ability for them to add new positions, even at what appear to be discounted prices. This creates a cyclical dynamic: weak price action discourages inflows, which in turn limits the buying power of the very institutions that could help stabilize the market.

Technically, Solana has now reached a key demand zone between $90 and $95, an area where buyers have historically stepped in to defend the market. According to BitGuru’s analysis, this zone represents a critical test for SOL. If this support continues to hold, it could set the stage for a relief move toward prior structural levels. Such a move, however, would likely represent a technical rebound rather than a full trend reversal, especially without the weight of institutional capital behind it.

For retail participants, the market dynamics require a adjusted approach. Short-term traders, in particular, should not expect immediate institutional support to catalyze a rapid recovery, as large players currently exhibit no urgency to step in. The market’s near-term trajectory will likely hinge on whether this $90-$95 demand zone can attract sufficient buying interest from other market participants to establish a durable base. The divergence between retail sentiment and institutional strategy underscores a broader shift in cryptocurrency market participation, where the actions of large, trend-following capital are becoming an increasingly dominant force in price discovery.