# Solana traders are fleeing — bet on the slide toward $68

_AI-generated trading idea · SHORT · SOL_

> Canonical page: https://commonquant.ai/research/for-you/solana-traders-are-fleeing-bet-on-the-slide-toward-68--4096337e-8836-4f12-b5a3-e9d05bcca356

Traders are bailing on Solana en masse — futures bets on the cryptocurrency dropped 30% in May alone. The price is weakening near $80 and analysts think it could fall to $68 or lower.

## Idea

When a third of all leveraged bets on a cryptocurrency disappear in a single month, it means traders are giving up — and that selling pressure tends to feed on itself. Solana has dropped from strength near $80 and the next real support level is way down around $68. Altcoins as a group are slumping, so there's no broader crypto rally to rescue it. The path of least resistance is down until something fundamentally changes the narrative.

## Key details

- Symbols: SOL
- Timeframes: H4
- Tags: \#crypto, \#bearish\_momentum, \#altcoins

## Community

- Upvotes: 0
- Views: 0
- Copies: 0
- Cosigns: 0

## News sources

- [Solana open interest drops 30% as altcoins slump: Is $68 SOL next?](https://cointelegraph.com/markets/solana-open-interest-drops-30-as-68-retest-comes-back-into-play) — Cointelegraph

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