As mentioned in my general crypto post yesterday, I remain bullish on the broader market and still hold some altcoins at this stage.
However, that doesn’t mean we should jump in blindly, assuming this is it.
Every setup needs confirmation — and Solana is no exception.
At the time of writing, SOL/USD is trading close to my initial entry area, but price action deserves a closer look.
1. What Happened on Friday
The general market sell-off pushed Solana below both a key horizontal support and the lower boundary of its rising channel — a clear bearish technical signal.
After that, we saw a strong recovery into the weekend, with price touching the psychological $200 level overnight before facing some resistance.
2. Current Market Structure
Despite the bounce, the structure remains bearish for now.
A clean stabilization and acceptance above the $200-210 zone would be the first technical sign of a potential trend shift to the upside.
3. Trading Plan
If you’re considering a long position on Solana, I believe it’s too early to enter.
The market looks overconfident in recovery, and when everyone assumes “the bottom is in,” that’s often when a new drop comes.
Wait for confirmation!
