Solana (SOL) Draws Institutional Interest, But Ichimoku Cloud Signals Uncertainty

Solana (SOL) is down 5% over the past seven days and has traded below $180 for six consecutive days. Despite this, institutional interest in SOL is rising

Solana (SOL) price has shown signs of weakness as technical indicators signal a potential shift in market trends.

Despite institutional interest in SOL intensifying ahead of a possible altcoin season, and major players accumulating and staking large amounts, technical indicators are presenting some mixed signals.

Solana Shows Strength As Institutions Accumulate

As major crypto pushes to new all-time highs, and Bitcoin shows signs of a continuation of the bull market, several altcoins are preparing for seasonality.

With altcoin trading volume yet to fully recover to previous peaks, and new all-time highs remaining out of reach, the market is still in a stage of recovery.

However, as institutions pour billions into crypto in 2025, they are largely focused on BTC and some select altcoins for diversification.

This is evident in the significant buildup of staked SOL, which now totals over 65% of the circulating supply.

Solana’s Q1 2025 App Revenue Reaches $1.2 Billion

According to recent reports, Solana’s (SOL) price has shown signs of weakness as technical indicators signal a potential shift in market trends.

Despite institutional interest in SOL intensifying ahead of a possible altcoin season, and major players accumulating and staking large amounts, technical indicators are presenting some mixed signals.

Solana Shows Strength As Institutions Accumulate

As major crypto pushes to new all-time highs, and Bitcoin shows signs of a continuation of the bull market, several altcoins are preparing for seasonality.

With altcoin trading volume yet to fully recover to previous peaks, and new all-time highs remaining out of reach, the market is still in a stage of recovery.

However, as institutions pour billions into crypto in 2025, they are largely focused on BTC and some select altcoins for diversification.

This is evident in the significant buildup of staked SOL, which now totals over 65% of the circulating supply.

Solana’s Q1 2025 App Revenue Reaches $1.2 Billion

It is also worth noting that Solana’s application revenue in Q1 2025 reached $1.2 billion, the strongest performance in the past year.

This trend is noteworthy, especially considering the challenging macroeconomic climate and the potential for a looming recession.

Moreover, on-chain data from Glassnode indicates that Solana has been a specific target for institutional accumulation in recent months.

These large investors, known as "whales," have been actively accumulating SOL throughout March and April 2025, in anticipation of a potential altcoin season.

Solana Ichimoku Cloud Remains Indecisive, Signals Short-Term Weakness

The Ichimoku Cloud on Solana is still showing some indecision with a slight bearish bias. The price is currently inside the green cloud which indicates a lack of direction in the short term.

The blue Tenkan-sen is still below the red Kijun-sen which is showing some weakness in the short term.

The Chikou Span (green line) is tangled in the recent price action which is adding to the neutral-to-bearish bias.

Ahead, the cloud is turning red and appears to be flattening which shows that there will be strong resistance to the upside and low momentum unless the price breaks out strongly from the cloud.

Solana BBTrend Stays Negative, Bearish Momentum Holds Below -4

Solana’s BBTrend is currently at -4.31, marking its third consecutive day in negative territory. Over the past several hours, the indicator has remained stable around -4, suggesting consistent bearish pressure.

The BBTrend (Bollinger Band Trend) measures the strength and direction of price movement relative to the width of the Bollinger Bands. Values above 0 typically indicate bullish momentum, while values below 0 signal bearish momentum.

A BBTrend at -4.31 reflects strong downward pressure and limited volatility expansion to the upside. If this trend continues, it may point to further consolidation or a deeper pullback unless a sharp reversal breaks the pattern.

Death Cross Setup Could Push SOL Back To $141 If $160 Support Fails

Solana’s EMA lines are converging and could soon form a death cross, a bearish technical signal where the short-term EMA crosses below the long-term EMA. If that occurs, SOL price could test the support level at $160.

A breakdown below this level could push the price down to $153.99, and if bearish momentum accelerates, Solana may decline further toward $141.

On the other hand, if Solana regains bullish momentum, the first resistance to watch is at $176.77. A successful breakout above this level could open the door for a further rally toward the $184.88 zone.