Here’s a latest short-term bearish analysis of Solana ($SOL ) along with a visual reference on price action and short pressure.
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📉 Current Market Structure – Bearish Signals
1. Significant Short Pressure & Whale Activity
Analysts report a large $43M whale short position on Solana, signaling increased bearish sentiment and technical vulnerability in the near term. Solana remains susceptible to further downside until key moving averages and previous support levels are reclaimed.
2. Technical Indicators Favor Bears
Multiple technical metrics (RSI, MACD, OBV) point to weakening momentum. Critical support around $140 is a key pivot—if it fails, sellers could push price toward $100 or lower.
3. Derivatives & Short Sentiment
Retail sentiment data shows funding rates have turned negative, with long positions liquidating faster than shorts, indicating new traders are increasingly bearish.
4. Broader Retail Weakness
Daily active addresses and network engagement have dropped significantly compared with earlier in the cycle, often associated with reduced speculative demand and sell-side dominance.
📌 Key Levels to Watch
Bearish break level: Below ~$140 might accelerate downside risk.
Next major support cluster: ~$100–$130 range, if $140 fails.
Upside hurdle/resistance: Reclaiming above $150–$160 could neutralize short bias.
📊 Short-Term Price Implications
Bearish momentum and large open short positions suggest possible continuation lower before a sustainable reversal.
A breakdown of critical supports could prompt further shorts and liquidation cascades.
📌 Important Reminder: This is not financial advice. Crypto markets are volatile and direction can change rapidly based on macro, regulatory, and on-chain developments (e.g., ETF flows, adoption news, BTC moves). Always do your own research and consider risk management.
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