May 27, 2020
You're "wrestling" with a tough choice, and the answer will be hard to "pin" down. (Okay, no more puns ... I swear)
Wrestling will only have an impact on your admission outcomes if you are an outstanding performer. Simply being good--or having participated throughout high school--will be viewed by elite admission officials as a worthwhile use of your time, but it probably won't be that boost you're hoping for that will shunt your application right into the "In" pile.
However, you don't say if the "elite" colleges on your list are NCAA Division I schools or others. You'd have to be a superior wrestler indeed to draw the attention of the Div. I coaches and to thus parlay your wrestling talents into affirmative admission decisions.
I wouldn't say that any Div. II colleges that offer wrestling would fall into the "elite college" category, and only a handful of Div. III schools (e.g., Williams, Johns Hopkins, MIT, Washington and Lee) would earn that designation from me. But if any of those are on your list, then it's conceivable that as a strong--but not state-level--wrestler, you might get some extra consideration at admission-decision time. This could depend on the college's situation in a given year ...e.g., how many returning wrestlers are on the squad and what weight classes are not represented.
Still, if you've lost your enthusiasm for the sport or are worried about further injuries, then it's probably time to move on to other pursuits. Perhaps there is a part of you that feels guilty for quitting or maybe there are parental pressures to stick it out. So, as I said above, the answer isn't an easy one. But, from a college admissions perspective, it doesn't sound as if wrestling will be your ticket to acceptances, and your lack of passion for it will probably be obvious as you proceed with the admissions process. So I suggest that you search for something else you love. Meanwhile, keep active, stay in shape, and if you really miss wrestling, you can give it another shot as a senior. And in some communities there are wrestling clubs that aren't associated with particular high schools. If you don't like your coach but want to keep involved with the sport, there may be similar opportunities in your area, too.