Usman Salis
Solana's having a rough day. After bouncing nicely from $175, SOL looked ready to push higher but got absolutely rejected at $213. That rejection sent it tumbling below the key $198-$200 zone, and now it's sitting around $195 looking pretty vulnerable.
The charts aren't looking great either. The MACD just flipped bearish on the 4-hour timeframe, and with RSI heading south, it's looking like we might see more downside before SOL can even think about testing those highs again. Bulls who were getting excited about that bounce from $175 are probably feeling pretty disappointed right now.
What's Next for SOL Price?
Here's what traders need to watch. If $195-$198 doesn't hold, the next stops are $190-$192, and if that breaks, we could see $185. Not exactly what SOL holders want to hear.
But here's the thing - if buyers do show up at $198 and actually defend it, we could see a bounce back to $210-$213. And if SOL manages to break above $213 with conviction? That opens the door to $220+. So it's really all about whether this support holds or not.
Solana (SOL) Price Sentiment: Smart Money vs Retail
Yeah, the short-term outlook looks bearish, but there's a twist. Trading volume just exploded over 100% in the last 24 hours. That kind of volume spike usually means something's about to happen - either a bigger crash or buyers stepping in big time.
Here's where it gets interesting. According to Coinglass data, retail traders are slightly more short than long right now. Makes sense - people see the price dropping and think it's going lower. But the smart money? That's a different story.
On Binance, the top traders - you know, the guys who actually make money at this - are holding nearly 2.7 longs for every short. Their positioning is even more bullish at roughly 3 to 1. These aren't your average weekend warriors; these are the traders who've been around the block. And they're betting on SOL bouncing back.
So while everyone's panicking about SOL breaking $200, the experienced money is treating this like a buying opportunity. Whether they're right or about to get burned - well, that's what makes crypto interesting.
Usman Salis
