Solana's price has become quiet after weeks of pressure. SOL has dropped by about 10% in the last 30 days, but remained nearly flat over the last 24 hours, even as the broader crypto market weakens. This pause is important.
Meanwhile, Solana is quietly trying to reach institutional investors in Brazil through Valour’s Solana ETP (Exchange-Traded Product), which is likely to be listed on the B3 exchange. This move provides a stable, regulated channel for demand, especially now that the charts are showing signs of a potential breakout. The question now is simple: can this help Solana resolve a difficult technical pattern, or will the sellers maintain control of the trend?
ETP hype meets a declining breakdown structure.
Valour’s Solana ETP provides regulated exposure to SOL for Brazilian investors and institutions. It is not a catalyst for a rapid price increase, but it does ensure stable absorption during selling pressure. This can be especially important if the charts show significant patterns. It can also be a sentimental trigger in a market where every asset seeks its own narrative.
Technically, Solana is moving within a declining head-and-shoulder pattern, but it is not a pure textbook example. If the neckline slopes downward, stronger confirmation is needed for a true breakout, as sellers continue to press at increasingly lower levels.
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Still, there are some signs of interest from buyers visible, which could counter sellers and help the Solana price towards a clear neckline breakout.
Quiet accumulation beneath the surface.
Although the price is struggling, on-chain data shows early signs of accumulation.
The group of holders who have owned their SOL for 3 to 6 months has significantly increased their share of the total supply. On November 16, they owned 11.756% of the supply. On December 16, this increased to 16.126%. This is a sharp increase in one month and indicates that buyers are stepping in for the medium term during weakness.
At the same time, the Chaikin Money Flow (CMF) gives a positive signal. Between November 3 and December 15, the Solana price made a lower low, but the CMF formed a higher low. This divergence indicates that buyers are present, even as the price slowly continues to decline.
The CMF still remains below zero. This indicates that large investors remain cautious. Buyers are active, but not yet convincing. These signals therefore indicate more about positioning than confirmation.
Solana price levels that determine the next step.
The Solana price now carries the full weight of the narrative. $141 is the first level to watch. If that is reclaimed, Solana breaks through the descending neckline, but the trend does not change immediately. Note: since the neckline slopes downward, additional confirmation is needed.
$153 is therefore the most important. A daily closing price above $153 confirms that buyers are taking over from sellers and may open the way to higher resistances.
Downward, $121 remains the key support. A breakthrough below that would invalidate the accumulation expectation and breakout pattern. The focus would then shift back to further declines.
