Solana Price Prediction: SOL Gives Back the Entire May Rally as Sellers Stay in Control
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Solana (SOL) has given back the entire early-May rally, trading at $84.60 on May 18 after falling below the 0.382 Fib at $90.42 with all four EMAs flipped bearish and the Supertrend at $87.30. A 2-hour descending channel since May 13 and declining bounce volume coincide with $27.14M of long liquidations versus $532.56K for shorts in 24h and a retail long ratio of 2.94, leaving the February rising trendline and the 0.236 Fib at $81.62 as the next supports.
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- SOL fell back below the 0.382 Fib at $90.42 with all four EMAs now overhead, erasing the gains made during the early May breakout
- The 2H descending channel has held since May 13 with the Supertrend bearish at $87.30 and every bounce getting sold into on lower volume
- Longs absorbed $27.14M in 24h liquidations against just $532.56K for shorts, with retail running a 2.94 long ratio into a declining price
Solana trades at $84.60 on May 18, giving back the entire May rally as price drops below all four EMAs and the rising trendline from the February low becomes the last support standing before the 0.236 Fib at $81.62.
SOL Daily Chart: Back Below the 0.382 Fib With EMAs Flipped Bearish
The recovery that pushed SOL above the 0.382 Fib at $90.42 in early May is fully reversed. Price is back at $84.60, below the 20 EMA a…
Read The Full Article Solana Price Prediction: SOL Gives Back the Entire May Rally as Sellers Stay in Control On Coin Edition.
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