SOL has made an insane run over the past few months going from $18 all the way up to $125. Since then it has not really had any significant pullbacks.

In my opinion SOL is at risk of dropping further and retesting the bottom support of the parallel channel.

As I have mentioned before, I am expecting BTC to pull back further once the ETF launches. BTC could correct another 20-30% from current value which could be catastrophic for alts like SOL.

Despite this, my long term outlook on this coin is still very bullish. Therefore, any buys from the lower yellow support could turn into very good trades in the next 1-2 years.

Currently, I am bearish on SOL until either BTC breaks $50k or if it pulls back into the $30k region. #solana