The cryptocurrency Solana (SOL) has experienced a drop in value, falling 12% since reaching its all-time high on November 24. This downward trend has led to an increase in short positions as traders bet on further price declines. Short positions in Solana have reached $6 billion, surpassing long positions at $5.38 billion, indicating a strong bearish sentiment among traders. The long/short ratio for SOL is currently below 1, suggesting that more traders are anticipating a price decline rather than a rally. The negative weighted sentiment for SOL further confirms the bearish bias, with negative emotions dominating social media discussions. SOL's price is on the verge of breaking below its 20-day Exponential Moving Average, which has served as a support level in recent months. If this support is decisively broken, the price drop for SOL could potentially reach $205.56. However, if market sentiment turns more bullish, SOL's price may rally towards its all-time high.



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