In addition to these bearish patterns, SOL has faced rejection from a descending trendline that has acted as a resistance level since January 2025.
This rejection, combined with the formation of a bearish engulfing candlestick pattern, strengthens the bearish outlook.
However, the bearish sentiment could change if Solana breaks the descending trendline and closes a daily candle above $147.50. If this occurs, SOL could potentially rise by 22% to reach $180 in the future.
SOL price prediction
Source: TradingView
Indicator flashing sell-signal, says analyst
A notable crypto expert on X (formerly Twitter) has reinforced the bearish outlook for Solana.
Source: X
The expert highlighted that the TD Sequential indicator, which previously signaled a buy ahead of SOL’s 22% rally, now shows a sell signal.
This raises questions about whether the price will continue to decline, or if the indicator is merely a signal.
Traders bullish view for Solana
However, intraday traders appear to be acting contrary to the overall market sentiment, as they are strongly betting on the long side.
Data from the on-chain analytics firm Coinglass revealed that traders are currently over-leveraged at $135 on the lower side, holding $167 million worth of long positions.
Meanwhile, $140 is another overleveraged level where intraday traders have built $83 million worth of short positions.
Solana Exchange Liquidation Map
Source: Coinglass
This highlights that bulls are currently dominating despite the bearish outlook, which is preventing SOL from falling further.
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