🔥 $SOL drops to ~$189 after a correction of more than 7%: accumulation opportunity?

📊 Current price and clear technical structure

Solana is trading near $189.60, after a retracement from Wednesday's highs at $205.27 and lows at $179.43. This correction represents a drop of -7.96% from the record of $205 and poses a test of the main support in the $180–198 zone, within the overall bullish channel.

⚙️ Key factors of the day

The REX-Osprey SOL + Staking ETF (SSK) surpassed $100M in assets under management in just 12 days since its launch, anticipating greater institutional confidence.

Upexi Inc. increased its holdings to 1.8M SOL (~$330M) following a $200M funding round, which could create pressure at lower levels but technical support at current prices.

Experts project that Solana could reach $400–$500 in this bullish cycle, although the recent momentum divergence and lower volume suggest caution.

The SEC set a deadline in July for new representations of Solana ETFs, which could pressure for an imminent approval of additional products.

🔧 Technical level of the day

Key support: $180–$190 (intraday lows and channel test)

Immediate resistance: $200–$205 (recent peaks)

Critical zone: closing above $190 could allow a rebound towards $205–$210, while a drop below $180 would open potential extension to $168–$172.

🌐 Institutional outlook / macro view

The existence of the SSK ETF and massive accumulation by corporates like Upexi set the stage for SOL to consolidate as a real institutional player — not just as a speculative altcoin. However, the current technical adjustment indicates that 'smart money' BTC could be reassessing entry levels. The regulatory framework also favors a structured path for SOL in professional portfolios.

Would you buy SOL below $190 as a strategic entry or do you expect it to correct closer to $180?