Key Highlights
- Morgan Stanley has submitted a revised application to the SEC for a spot Solana ETF, trading under MSOL, which would directly hold SOL and potentially engage in staking activities.
- Following a retreat from May’s $98.18 peak, SOL is currently hovering around the critical $82–$84 support level.
- A decisive break above the $87–$90 resistance zone would be necessary for bulls to confirm a near-term trend shift.
- Technical analyst CryptoCurb maintains a bold $1,000 long-term projection, dependent on clearing a descending resistance barrier on the weekly timeframe.
- Trader Ted Pillows identified significant liquidity concentration between $86–$88, with additional liquidity pools forming near the $80 mark.
Solana finds itself at a pivotal juncture. After retreating from recent peaks, the cryptocurrency’s price action is drawing renewed scrutiny alongside Morgan Stanley’s latest regulatory submission for an ETF product.
Following a sharp decline from the $98.18 level reached during early May’s rally, SOL has settled into the $82–$84 support corridor—a zone that market observers are monitoring with heightened interest.
For bullish momentum to resurface, reclaiming the $87–$90 resistance area becomes essential. Successfully breaking through this barrier would provide the initial confirmation that the recent downward pressure is beginning to fade.
Technical analyst BitGuru presented a 4-hour timeframe chart illustrating the present market structure. The analysis identifies $82–$84 as a potential bounce zone should demand materialize at these depths.
Taking a broader perspective, analyst CryptoCurb examined the weekly chart structure. This longer-term view reveals SOL constructing a foundation above a significant support trendline, while facing overhead pressure from a descending resistance boundary marked in red.
zoom out.
SOL is going to $1,000+.#SOLANA ⚡️ pic.twitter.com/BAIPHM9mMM
— curb (@CryptoCurb) May 23, 2026
Long-Term $1,000 Projection from CryptoCurb
Within CryptoCurb’s technical framework, $1,000 emerges as an ambitious long-term objective. Reaching this milestone would necessitate a validated breakout through the descending resistance barrier, accompanied by persistent upward momentum.
This bullish scenario remains unconfirmed at present. For the higher target to become viable, price must maintain its position above the support foundation and successfully penetrate the overhead resistance line.
On the social platform X, analyst Ted Pillows highlighted that $SOL exhibits concentrated liquidity clustering in the $86–$88 vicinity. He simultaneously noted accumulating downside liquidity approaching $80, and suggested that developing US-Iran diplomatic discussions could trigger upside liquidity sweeps before any meaningful reversal materializes.
$SOL has a decent liquidity cluster around the $86-$88 level.
On the downside, some long-side liquidity is building around the $80 level.
US-Iran peace talks are ongoing, which means upside liquidity could be taken out first before reversal. pic.twitter.com/owUE3yrJdP
— Ted (@TedPillows) May 24, 2026
This liquidity analysis provides valuable perspective on near-term price dynamics. The presence of significant liquidity at dual levels indicates potential volatility in either direction before a definitive trend establishes itself.
Morgan Stanley Advances Spot Solana ETF Application
On May 20, 2026, Morgan Stanley filed an updated S-1 registration with securities regulators for the Morgan Stanley Solana Trust. If approved, the investment vehicle would list on NYSE Arca trading under the MSOL ticker symbol.
The proposed structure calls for direct ownership of Solana tokens—eschewing futures contracts or derivative-based exposure. Morgan Stanley Investment Management Inc. is designated to serve as Delegated Sponsor for the trust.
According to the regulatory disclosure, the trust reserves the right to stake its entire SOL allocation through qualified external validators. However, staking operations would only proceed after the sponsor determines that legal and regulatory uncertainties have been sufficiently addressed.
The product awaits final SEC authorization before any market debut can occur.
Presently, SOL trades within the $82–$84 support corridor, where bulls must successfully defend this zone and push back above $87–$90 to establish conditions for a meaningful recovery trajectory.
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