Solana price is now at $85.40 (April 23), rising 2.75% in the last 24 hours. It's interesting because a week ago, SOL was stuck below $82.50, and now it managed to break through that 0.382 Fibonacci level. But there’s something strange happening behind the scenes that nobody’s talking about much.

Solana’s treasuries (those companies that accumulated SOL) are in total collapse – they’ve fallen 80-90% from their peaks. An analyst named TedPillows is signaling that it could drop another 30-50% before finding a bottom. That’s heavy because it shows corporate confidence is shaken, you know? Meanwhile, Solana price tries to go up, but there’s this pressure from above.

The positive side is that SOL spot ETFs have started to receive inflows again – $11.45 million on April 10, mainly from Bitwise BSOL. Total assets are at $827.71 million, close to that billion mark. This brings some institutional relief.

Technically, the SAR is at $85.86, so Solana price might test that as the next resistance. If it manages to close above, it opens to $87.10 and then $91.70 $1 Fib of 0.5 and 0.618(. But the CMF is at -0.19, which means the money flow is still negative – buyers haven’t taken control for real. Below, there’s support at $76.81 and then February’s low at $67.61.

Basically: Solana price could go higher if it consolidates above $85.86, but the treasury collapse scenario is pulling it down. It’s in a boring middle ground for now.