Solana (SOL) is moving through a critical phase where price structure and ecosystem developments are aligning to shape its next direction.

According to the latest market updates from More Crypto Online, however, Solana has not yet formed a clear top. This setup is not yet complete, as a decisive five-wave drop and a drop below $88.57 are needed to confirm this bearish setup.

Until that’s done, this pattern could continue higher. On the 1-hour chart for SOL, a corrective pattern is visible after a strong advance. The price went back up in three steps, known as the A-B-C pattern.

Such a price movement is normally seen during a sideways trading period rather than a complete price reversal. The price stabilized between $82 and $86, where key Fibonacci levels and a support line were present, indicating that buyers were still interested in the asset.

After consolidating in this range, SOL started to create a short-term base, suggesting that it was making the first attempt to rise again.

Source: X

Also Read: Solana Launches SDP With 3 API Modules for Institutions

Resistance Zone Limits Upside Attempts

As the price rises further, it meets a strong resistance area between $91 and $94. This area has multiple overlapping Fibonacci levels, making it a strong resistance area for further price increases.

Looking at the price action in the last few days, we have seen some price action around $92.70, where the price was rejected. This tells us that there are still some sellers around this area that are stopping the price from breaking out further.

If this resistance area holds strong, we may see the price fall again, possibly towards the $85 area or a little lower to test the liquidity.

However, this may change. If SOL increases and stays above the price range of $94 to $96, then the current correction would no longer be valid.

This means that the price may once again move towards the previous high price of $98 or even higher. This area represents a turning point where both an increase and a fall in price may occur.

Institutional Integration Strengthens Solana Ecosystem

However, Solana is gaining traction outside of trading and more into the infrastructure side. Elliptic has been selected as a compliance partner for the Solana Developer Platform, which makes it easier for developers to build financial products on the Solana network.

The platform integrates tools from different areas of the ecosystem in a simple interface. 

This makes it possible for institutions to provide services like tokenized deposits, stablecoin-based payments, and real-world asset products even without understanding blockchain technology well. The project already includes prominent companies like Mastercard, Worldpay, and Western Union.

Source: Elliptic

Elliptic also includes compliance tools, which are built-in features for wallet and transaction screening, risk scoring, and monitoring tools. This marks a growing trend in which traditional finance is slowly entering blockchain networks.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: Solana Holds Support While Awaiting Key Monthly Signal for Price Surge