# Solana bulls abandon ship as bets on higher prices collapse — short the slide toward $68

_AI-generated trading idea · SHORT · SOL, SOL-_

> Canonical page: https://commonquant.ai/research/for-you/solana-bulls-abandon-ship-as-bets-on-higher-prices-collapse--6e6de9dc-d9d0-4d39-b36f-d61b8055de71

Bets on higher Solana prices are collapsing — futures open interest fell 30% in May alone. With the price weakening near $80 and traders abandoning their bullish positions, analysts are eyeing a drop toward $68.

## Idea

When a third of all bullish bets on Solana disappear in a single month, it tells you large traders are giving up — not a good sign. The price is sagging near $80, and without those leveraged bulls providing support, the path of least resistance is down. The $68 level was a previous resting place for the price, and with momentum clearly shifted against Solana, a return there is plausible. This is a classic case of weakening demand meeting fading confidence.

## Key details

- Symbols: SOL, SOL-
- Timeframes: H4
- Tags: \#crypto, \#mean\_reversion, \#bearish

## 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

## Related ideas

- [Massive Robinhood crypto volume flooding Arbitrum — ride the momentum](https://commonquant.ai/research/for-you/massive-robinhood-crypto-volume-flooding-arbitrum-ride-the-m--781bd414-0e0c-414b-9cac-601ffb029e74)
- [Nvidia plummets to pre-AI boom prices — contrarian bounce setup](https://commonquant.ai/research/for-you/nvidia-plummets-to-pre-ai-boom-prices-contrarian-bounce-setu--3bccc0c3-5bc3-4f52-adec-30995fe60b67)
- [Bitcoin getting slammed by Japan rate fears and geopolitical panic — contrarian setup on crypto stocks](https://commonquant.ai/research/for-you/bitcoin-getting-slammed-by-japan-rate-fears-and-geopolitical--7fe42d28-9c12-4d00-bd67-ff05139d7898)

## Related

- [SOL trade ideas](https://commonquant.ai/stocks/sol)
- [SOL- trade ideas](https://commonquant.ai/stocks/sol-)
- [Latest market news](https://commonquant.ai/news)