Bullish Solana (SOL) Pattern Meets 3 Bearish Cues: 10% Bounce at Risk?

Solana (SOL) has experienced a nearly 10% price increase over the past month, trading within a bullish ascending channel. However, this rally is encountering resistance, signaled by three bearish cues. First, the percentage of Solana addresses in profit has risen to levels seen before February’s 25% price drop. Second, long-term holder accumulation has decreased by nearly 50% since that last profit spike, reducing potential support during a correction. Finally, a significant imbalance in leveraged positions, with $306 million long versus $75 million short, creates a risk of amplified losses if the price falls, particularly near the $89 level where substantial liquidations are clustered. While a break above $94 or $98 could strengthen the bullish momentum, a drop below $89 could trigger a rapid decline towards $80, erasing recent gains.

(Source：BeInCrypto)