Goldman Sachs has even entered... Solana's big turnaround signal

▲ 솔라나(SOL)/챗GPT 생성 이미지 ©

Solana (Solana, SOL) is on the verge of breaking through $90 and is making its 'eighth attempt to break through', with the possibility of a structural upward reversal, rather than a repeat of failures, emerging as a key variable in the market.

According to the investment media outlet TradingNews on April 22 (local time), Solana is currently trading at approximately $88.02, up 2.82%, and is re-testing the $89-$92 resistance zone, which it had failed to break through seven times since February. This attempt shows a different pattern from previous ones, as it is accompanied by institutional fund inflows and increased trading volume, rather than just a simple rebound.

In particular, Goldman Sachs has established a Solana spot ETF position worth approximately $108 million, and the total assets under management for Solana spot ETFs have exceeded $1 billion, which is identified as a key change. Furthermore, net inflows of approximately $50 million have continued for 8 consecutive days, leading to a sustained accumulation of institutional buying.

Technically, a 'double bottom' pattern is forming, lending strength to an upward scenario. If it breaks through $97.80, the target price is set at $118, and with a short position liquidation zone of approximately $20.5 million formed around $91, the possibility of a short squeeze (buying pressure that occurs to close or cover short-selling positions) is also open.

On-chain fundamentals are also positive. Solana maintained its lead in network utilization, recording $284.5 billion in decentralized exchange (DEX) trading volume and a 41% market share during Q1 2026. However, its relative underperformance, showing approximately 14-15 percentage points lower returns compared to Bitcoin and Ethereum over the past 30 days, remains a short-term burden.

Ultimately, the market's turning point hinges on whether it breaks through $90. If it breaks through this level, an upward potential to $118 via $97.80 opens up, but if it faces resistance again, it could fall below $84, and a readjustment to the $75-$78 range cannot be ruled out.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*