A Pullback Before Reaching New Heights ?
Currently at 183 dollars, Solana is hitting resistance while Bitcoin faces strong sell orders between 120,000 and 121,500 dollars, increasing the likelihood of a pullback during the weekend when liquidity is typically low.
With a bearish divergence in its short-term RSI and price sitting in the upper band of the MRC, SOL presents a setup for a very short-term short position. The trendline also adds to this confluence. It could break to liquidate late longs during a weekend with low liquidity.
Trade on SOL :
- Entry price : Between 182 and 188 dollars
- Stop loss (liquidation price) : 191 dollars
- Take Profit : 176 dollars
- Leverage approximately 20x : potential gains 80%
The Stop Loss remains the key element. Place an amount you can afford to lose and set the leverage so that liquidation occurs around 190 dollars.
SOL Remains Bullish Long-Term
However, this kind of pullback is healthy for SOL. In the long term, Solana remains bullish and could target 280 dollars in the coming weeks.
Indeed, SOL is currently 55% away from its all-time high of 293 dollars. Given that Ethereum is also approaching its ATH and Bitcoin is already in price discovery mode, SOL should catch up soon.
Additionally, SOL is in the midst of a complete breakout and sits above all its moving averages. It’s only a matter of time before SOL shines again.
How to Short Solana (SOL) on Bybit ?
- Registration : Create an account on Bybit, verify your email, and activate 2FA.
- Deposit : Transfer USDT to the “Wallet” section via a compatible network (e.g., ERC-20).
- Futures : Go to “Derivatives” > “Futures” and select SOL/USDT (perpetual contract).
- Short position :
- Entry : Between $182 and $188 (market or limit order).
- Leverage : 20x (liquidation ~$191).
- Stop Loss : $191.
- Take Profit : $176 (potential gain ~80%).
- Enter the quantity and confirm.
- Management : Monitor via Bybit or TradingView, adjust stop loss/take profit, and pay attention to funding rates.
