Solana opened the final day of July near a technical inflection point while two new institutional developments added fresh attention to the token. On July 31, SOL traded at $73.59, down 1.14% on the day, with price compressed between a descending trendline from May’s high and a rising trendline from the June low.

The backdrop changed quickly over the past week. Morgan Stanley’s newly launched spot Solana ETF posted the largest single-day inflow seen across US SOL ETF products since mid-May, and in South Korea, payments company KSNET signed a memorandum of understanding with the Solana Foundation to explore Solana Pay for a merchant network of 330,000 businesses.

SOL sits near the apex of a multi-month triangle

On the daily chart, SOL has been trading inside a triangle formed by May’s peak near $98 and the June low of $60.29. Those trendlines now converge around the current $73 to $74 area, suggesting that a directional move may be close as August begins.

Several resistance levels are clustered just overhead. The 0.382 Fibonacci retracement at $74.79 has capped every recovery attempt during July, while the 20-day EMA at $75.33 and the 50-day EMA at $76.01 reinforce that same resistance band. Above that, the 0.5 Fibonacci level at $79.27 and the 100-day EMA at $79.39 form the next major upside zone.

On the downside, support is thinner. The session low at $73.42 aligns with the triangle’s lower boundary, followed by the 0.236 Fibonacci level at $69.25. If that fails, the June low at $60.29 remains the main lower reference point.

Morgan Stanley’s ETF delivers the biggest SOL inflow day since May

Morgan Stanley launched its spot Solana ETF, ticker MSOL, on July 28. By its second trading day, July 29, the fund recorded $19.06 million in inflows, the largest single-day intake for any US SOL ETF product since early May. Every other Solana ETF product registered zero flows that day, meaning the category’s entire daily inflow came from the new fund alone.

The following day, July 30, MSOL added another $403,890, bringing its cumulative inflows to $19.46 million. According to the source article, cumulative inflows across Solana ETF products now stand at $1.15 billion, with total net assets at $878.33 million.

MSOL charges a 0.14% management fee and passes 95% of staking rewards to shareholders. The article presents that structure as a potential draw for institutional investors seeking both price exposure and yield through Morgan Stanley’s existing distribution network.

KSNET and Solana Foundation sign payments MOU in South Korea

A day after the notable ETF flow, another Solana-related development emerged in South Korea. On July 30, KSNET signed an MOU with the Solana Foundation to work on a proof-of-concept around Solana Pay. KSNET has operated in Korea’s payments infrastructure for 26 years and, according to the article, serves 330,000 merchants while handling roughly $4 billion in monthly transaction volume.

The agreement covers two areas. The first is adapting Solana Pay for domestic Korean merchants, including digital asset settlement linked to the Korean won network and local anti-money-laundering requirements. The second is an AI payments track, labeled x402, that would explore on-chain payments initiated and settled by autonomous software agents.

The article stresses that the KSNET arrangement is not a commercial rollout. It describes the deal as part of a broader pipeline of South Korean relationships for the Solana Foundation, alongside Shinhan Card, Toss Bank, and KG Group, but stops short of suggesting any confirmed launch timeline.

August setup remains uncertain despite new catalysts

The source article describes Solana’s August performance history as mixed rather than consistently strong. While the monthly average return is listed at 61.1%, that figure is heavily influenced by outsized gains in August 2020 and August 2021. The median return is effectively flat at -0.001%, which the article cites as a more cautious reading of seasonality.

For August 2026, the article outlines a wide set of possible trading ranges rather than a firm directional call: $70 to $82 for Aug. 1-8, $68 to $85 for Aug. 9-20, and $67 to $90 for Aug. 21-31. It ties that uncertainty to several factors, including the triangle pattern, the trajectory of MSOL inflows, the KSNET proof-of-concept timeline, and broader policy or macro developments mentioned in the source.

The next confirmed items to watch are whether SOL can reclaim the resistance band between roughly $74.79 and $76.01, whether MSOL continues attracting inflows beyond its launch week, and whether the KSNET memorandum advances into a more concrete implementation phase. For now, both institutional developments are real, but their long-term impact remains unproven.

Source: Coin Edition