$SOL is down 2.63%, testing the $122.50 support level. Bearish MACD and an RSI of 41 confirm strong downward momentum.

Smart Money Sells: Whales turned decisively bearish, with short positions surging 28%. The Long/Short ratio collapsed, indicating high conviction in further downside.

Capital Outflows: A significant net outflow of $13.23M in the last hour, driven by large-scale institutional selling, is increasing the downward pressure.

Bearish Consolidation at Key Support

SOL is trading at $123.51, down 2.63%, and is below its 7, 25, and 99-period EMAs, testing the lower Bollinger Band support at $122.51.

The MACD remains negative, confirming bearish momentum, while the RSI at 41 suggests the asset is approaching oversold territory.

A significant net outflow of $13.23M was recorded in the last hour, primarily driven by large-scale institutional selling, adding to the downward pressure.

Whales Lead Bearish Pivot

Smart money sentiment has turned decisively bearish, with the Long/Short ratio collapsing to 0.35 as short whale positions surged by over 28% in 24 hours.

Short whales are in significant profit (+14.9%) with an average entry of $145.10, while long whales face major losses (-11.6%) from an average entry of $139.70.

An extremely high risk of a long squeeze exists, as 98.5% of long whales are unprofitable, making their positions vulnerable to a support break.Navigating SOL's Bearish Trend

Short-term: High risk. Watch for a breakdown below the critical $122.50 support, which could trigger a long squeeze. Rallies toward $124.70 may face strong selling pressure.

Mid-term: The bearish trend may continue until a capitulation event or a clear reversal in smart money flow. A break below $120 could be a target for shorts.

Long-term: Despite current weakness, Solana's fundamentals remain strong. A significant price drop could present accumulation opportunities for long-term believers in the ecosystem.