Solana (SOL) Price Prediction: Wall Street Is Buying In, but Analysts Aren’t Calling the Bottom Yet

Solana has been under pressure for months, and some analysts think the correction may not be over yet. Crypto analyst Wick believes the SOL price is following a pattern that’s appeared in previous bear markets, where a double zigzag correction played out before the next major rally began.

Away from the charts, the story looks more encouraging. Morgan Stanley is expanding access to Solana through both its spot ETF filings and E*TRADE’s new crypto trading service. Those developments won’t move the market overnight, but they do show that traditional finance is continuing to make room for SOL.

The SOL price could still have one more leg lower

Wick’s analysis focuses on Solana’s higher-timeframe Elliott Wave structure. Looking back at previous market cycles, he notes that Solana has repeatedly formed double zigzag corrections before putting in a major low. He believes the current cycle is following a similar path.

$SOL HTF update:

It looks like the double zigzag is one of Solana’s most recurring patterns. Looking at the historical price action, both major rallies and corrections have repeatedly unfolded through double zigzag structures.

The current market structure closely resembles the… pic.twitter.com/H0rlqWXZ92

— Wick (@wick_btc) July 16, 2026

We had a look at the chart, and it shows the SOL price moving through the final stages of a larger Wave C correction. In Wick’s view, the first zigzag has not fully finished, leaving room for a second corrective move before the broader downtrend comes to an end.

His chart identifies the $17 to $20 range as the most attractive accumulation zone if the correction continues. If buyers defend that area, the first recovery target comes in around $34, with the previous resistance zone near $75 becoming the next major hurdle. For now, though, the larger trend remains bearish, and Wick believes it’s still too early to say the market has found its bottom.

Morgan Stanley continues expanding Solana access

Even though the SOL price remains under pressure, institutional interest continues to grow. Morgan Stanley has updated its proposed spot Solana ETF filing with the U.S. Securities and Exchange Commission, setting a 0.14% management fee. 

The application still needs SEC approval, but the low fee makes it one of the more competitive crypto ETF proposals on the market. The bank has also added spot Solana trading to its E*TRADE platform. 

Eligible retail clients can now buy, sell, and hold SOL alongside Bitcoin and Ethereum through infrastructure provided by Zero Hash. Trades carry a 0.50% fee, and support for transfers to external wallets is expected later this year.

Institutional access is also expanding overseas. Clearstream has added Solana to its regulated digital asset custody platform under Europe’s MiCA framework, allowing banks to hold SOL through regulated infrastructure.

What comes next for the SOL price?

The SOL price is caught between a bearish chart and improving institutional adoption. 

Wick’s higher-timeframe analysis leaves room for another decline, with $17 to $20 remaining the key area to watch if selling pressure continues. If buyers step in there, the first upside target comes in around $34, followed by the previous resistance zone near $75.

Beyond the charts, traders will be watching the SEC’s response to Morgan Stanley’s spot Solana ETF filing, adoption of SOL trading on E*TRADE, and continued growth in institutional custody services. 

CoinCodex’s 1-month SOL price prediction places the price at $99.38, implying potential upside from current levels if the SOL price can defend key support and reclaim the major resistance levels overhead.

Source:: Solana (SOL) Price Prediction: Wall Street Is Buying In, but Analysts Aren't Calling the Bottom Yet