Is Solana Ready to Outperform Ethereum Again After Testing 0.043 Support?

Solana (SOL) signals a local bottom against Ether (ETH), the native token of its leading blockchain rival, Ethereum. That is due to a bullish reversal and institutions committing $1 billion to SOL.

SOL’s ‘Doji’ Raises Bullish Reversal Odds

On the weekly SOL/ETH chart, the last three candlesticks have each closed as different forms of Doji, a rare sequence that typically appears at the end of extended downtrends.

The pattern began with a Long-Legged Doji, which reflected indecision between bulls and bears after weeks of steady declines. It was followed by a Dragonfly Doji, a far stronger signal, showing buyers aggressively defending lower levels.

The most recent weekly close formed a Four-Price Doji, an unusual structure where the open, close, high, and low are nearly identical, a technical sign that the market has reached a standstill.

Together, this cluster of Doji candles highlights seller exhaustion and signals that the SOL/ETH pair may be carving out a potential bottom zone around the 0.043 level.

The bullish Doji sequence also coincides with Solana testing a major support confluence against Ethereum.

The 200-week exponential moving average (EMA) sits directly at the current 0.043 level, overlapping with the 0.618 Fibonacci retracement line of the previous cycle’s rally.

This confluence zone mirrors an earlier setup from mid-2024, when SOL/ETH carved out a bottom at the 50-week EMA aligned with the 0.382 Fib retracement. That structure sparked a sharp 150% rebound that carried Solana to its cycle high near 0.09 ETH.

Now, with the 200-week EMA reinforcing the Fib level, the setup once again favors a trend reversal, provided bulls can defend this floor.

Institutions Eye $1B Solana treasury

Adding to the technical bottoming signals, some of the biggest players in crypto finance are lining up to put serious money behind Solana.

Galaxy Digital, Multicoin Capital, and Jump Crypto are reportedly in talks to raise about $1 billion for a dedicated Solana accumulation fund, according to a Bloomberg exclusive.

The deal, led by Cantor Fitzgerald LP as banker, would involve acquiring a publicly traded entity and transforming it into a “digital asset treasury company” focused on Solana.

If completed, it would instantly become the largest reserve pool dedicated to the token, more than double the size of the biggest existing one.

Such a move would signal deep institutional conviction at a time when Solana is testing a long-term support floor.

It would also inject fresh liquidity into the ecosystem, reinforcing the idea that SOL’s recent underperformance versus Ethereum may soon give way to a period of relative strength.