Why Solana’s [SOL] next move could surprise you

• Solana lags as different alts shine, giving “shorts” the higher hand.
• If bulls act swiftly, the tide may flip—however timing is all the things.

The resilience of Solana [SOL] bulls is being significantly examined. Regardless of three makes an attempt in lower than a month to interrupt free from a downward pattern, the value continues to wrestle, shifting additional down.

its every day chart, it’s clear simply how impactful the “Trump pump” was for buyers, pushing Solana to a brand new all-time excessive of $264 after three years of stagnation.

After such a strong rally, one may anticipate long-term HODLers to money out their SOL holdings, however surprisingly, that’s not the case.

As a substitute, it’s the unwavering conviction of those long-term buyers that’s fueling hypothesis of an imminent rebound.

But, as SOL has already erased a lot of its post-election good points, the specter of a deeper pullback looms giant. Even probably the most steadfast HODLers could quickly really feel the strain.

It might solely be a matter of time earlier than the load of this downtrend forces a call.

The clock is ticking

From this chart, the winners of the election cycle are crystal clear, as proven by the 30-day share change.

Only one week after the outcomes had been introduced, a wave of euphoria swept by the market, pushing sure property to spectacular good points. 

Ripple [XRP] stands out as a serious winner, hovering above a key psychological degree with a triple-digit achieve. Extra impressively, it has overtaken Solana, claiming the spot because the fourth-largest cryptocurrency by market cap.

Clearly, Solana has lagged behind its rivals, however that doesn’t imply all hope is misplaced.

Hypothesis surrounding a large rebound is rising, with some even predicting that SOL may hit a $500 value goal earlier than the tip of Q1 subsequent 12 months.

Given Solana’s value motion, significantly within the final three weeks, it’s comprehensible to view the $500 goal as considerably of an exaggeration.

Nonetheless, we are able to’t overlook the truth that Solana’s volatility has traditionally paved the way in which for some huge good points. Whereas it’s too early to make any definitive predictions, it’s clear that something is feasible.

So, must you go “lengthy” on Solana?

The previous three weeks have been a few of the most risky for SOL, with bulls and bears locked in a fierce tug-of-war. After dipping to $236, bulls staged a powerful comeback, sparking a 5% surge in simply three days.

Futures merchants jumped on the motion, driving Open Curiosity (OI) to an all-time excessive of $6.05 billion.

Supply : Coinglass

However the rally didn’t final, and OI has since dropped to $5.16 billion. So, if you happen to’re “lengthy” on SOL, tread fastidiously.

Whereas the present value might sound tempting, SOL has struggled to attract the identical consideration as different alts are stealing the highlight.

Nonetheless, hope isn’t misplaced. Lengthy-term holders are standing agency, and with the precise push from main gamers, a short-squeeze may flip the narrative.

Is your portfolio inexperienced? Take a look at the SOL Revenue Calculator

With shorts dominating the perpetual market and profiting from weak accumulation, this might flip the tide in SOL’s favor.

However time is working out. If the bulls can’t take cost quickly, long-term holders may lose religion, opening the door to a dip beneath $200 – a possible alternative for strategic consumers to re-enter the market.