Solana trades near the $90 mark while on-chain metrics suggest SOL in undervaluation territory during early 2026. According to recent Glassnode data, the network is experiencing massive institutional accumulation despite bearish pressure, laying the groundwork for a potential structural recovery that could propel the asset toward $156 in the coming months.
Aaryamann Shrivastava, a specialized analyst, highlights that the Market Value to Realized Value (MVRV) ratio has dropped to 0.65, reaching levels not seen since late 2023. This metric, evidencing a state of considerable technical SOL in undervaluation, indicates that most current holders are facing unrealized losses, which historically reduces the urgency of sell-side pressure significantly.
Investor behavior amid the current market downturn
This compression scenario has motivated a resilient response from large participants, who have absorbed approximately 5 million tokens during the corrective period. Consequently, the cryptocurrency Solana has managed to attract capital flows valued at nearly $455 million, demonstrating unwavering conviction among long-term buyers who see current prices as a strategic opportunity.
Furthermore, the fact that the realized price remains above the current spot price replicates patterns observed in March 2025, suggesting a macro bottom phase. Nevertheless, this process of constant accumulation during market weaknesses usually anticipates very significant trend reversals, allowing the asset to consolidate a solid base before attempting to reach new local highs.
Can Solana break technical resistance to initiate a bullish rally?
From a technical perspective, the asset is navigating within a descending wedge on the daily timeframe, approaching a critical decision zone. To validate the optimism, the price must reclaim $104 as support, opening the door toward higher targets located near $156, which would represent a substantial 31% expansion from current levels.
However, the outlook is not without latent risks, as a loss of the critical support level at $83 would invalidate the bullish thesis. If selling pressure intensifies, the asset could drop toward $75, confirming the continuation of a deeper corrective trend that would force investors to re-evaluate their current entry strategies and risk management.
On the other hand, the current market structure bears a striking symmetry with previous cycles that preceded major capital expansions. Thus, the asset’s success will depend on its ability to transform accumulated liquidity into real upward momentum, confirming that the accumulation sentiment persists over fears of a sudden and massive capitulation in the short term.
