Solana Price Stuck in Bearish Trend as Institutional Adoption Rises
Despite growing institutional engagement and adoption, Solana's price remains under persistent selling pressure. The SOL/USD pair is trading below its key moving averages, indicating a clear bearish trend. According to Traders Union, Solana captured 97% of all tokenized-equity blockchain trading last quarter, with $5.8 billion in tokenized asset transactions, a 114% increase from the prior quarter.
Mubadala Capital's launch of a $75 million tokenized private markets fund on Solana is a significant development, but it may not be enough to counteract the bearish momentum. The fund's full capital commitment and institutional participants like Coinbase are positive signs, but they do not necessarily translate to immediate price action.
Technical indicators suggest that SOL is likely to oscillate between $74.78 and $76.75 over the next 2-3 trading days, with a high probability of further downside. A break below $74.78 could signal a deeper bearish continuation, while a surge through resistance at $76.59 may lead to a more lasting rebound.