Solana About to Fall Again ?

After reaching $209 last week, Solana (SOL) is now experiencing losses along with the entire crypto market.

Indeed, Bitcoin has lost its HTF bullish trendline, as Killa points out on X. The technical outlook doesn’t bode well for cryptocurrencies in the coming weeks.

SOL Solana price chart over 3 days

Additionally, SOL displays a clear bearish divergence on its daily RSI. A return to the liquidity zone at $110 is therefore possible, with a bearish trendline to break at $151.

A SOL Short Opportunity : Key Levels

In this context, SOL offers a favorable swing short opportunity, especially considering that SOL might experience a short-term bounce to $189.

SOL Solana price chart in 30-minute intervals

Indeed, SOL has a strong resistance zone between $184 and $190 with POCs and liquidity zones in LTF.

The trade setup for SOL :

  • Entry Point : Between $183 and $190
  • SL : $200
  • TP : $150 – $132 – $115
  • Adjust your leverage to have your liquidation price above $200.
  • Enter only with the amount you’re willing to lose.

In summary, SOL shows bearish divergences and is approaching a resistance zone in LTF. Furthermore, BTC has lost a key HTF support, indicating a correction in the coming weeks.

For SOL to break above $200, it would need a catalyst and a strong BTC rally, likely toward new all-time highs. Remember to move your SL to “break even” (your entry price) once the price has moved sufficiently in your favor. Also monitor its price action, especially if it approaches $190 quickly with or without significant volume.

Short Strategy on Bitget for Solana

Here’s a SOL short strategy on Bitget’s USDT-M Futures, using moderate leverage (5x) to manage risk :

  • Entry Point : Sell between $183 and $190 (LTF resistance zone).
  • Stop Loss (SL) : $200 (+5.3% from $190, above key resistance).
  • Take Profit (TP) :
    1. TP1 : $150 (-18.2% from $183, bearish trendline).
    2. TP2 : $132 (-27.9%, intermediate support).
    3. TP3 : $115 (-37.2%, major liquidity zone).
  • Risk/Reward Ratio : 1:3.4 (TP1), 1:5.3 (TP2), 1:7.4 (TP3).
  • Execution :
    1. Access USDT-M Futures on Bitget (www.bitget.com).
    2. Transfer USDT to your Futures account (Bitget Support).
    3. Select SOL/USDT in one-way mode (short).
    4. Place a limit sell order between $183-190. Set SL at $200 and TPs at $150, $132, $115 via Positions > TP/SL.
    5. Adjust leverage (3-5x) for liquidation above $200.

Tips : Monitor RSI (<50 to confirm the drop or overbought in 30-minute timeframe for optimized entry) and volume (>$1.5 billion). A close above $200 invalidates the strategy.

How to Short Solana (SOL) on Bitget ?

  1. Register on Bitget : Create an account on Bitget using an email or phone number. Complete KYC verification for full access.
  2. Deposit Funds : Transfer USDT to your Futures account via the “Deposit” section (Bitget Support).
  3. Select SOL Pair : Access USDT-M Futures, choose SOL/USDT in one-way mode (short).
  4. Execute the Short :
    • Place a limit sell order between $183 and $190.
    • Set a Stop Loss at $200 and Take Profits at $150, $132, $115 via Positions > TP/SL.
    • Use 3-5x leverage for liquidation above $200.

More on this topic :

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