# Solana traders fleeing in droves as price weakens — bet on further downside toward $68

_AI-generated trading idea · SHORT · SOL_

> Canonical page: https://commonquant.ai/research/for-you/solana-traders-fleeing-in-droves-as-price-weakens-bet-on-fur--ee83d038-7ef8-4014-aaed-a9c8d8766c25

Bets on Solana's price going higher have collapsed by 30% this month as traders unwind their positions. The token is weakening around $80, and analysts think $68 is the next likely stop.

## Idea

When leveraged traders abandon a cryptocurrency en masse, the selling pressure tends to snowball. Solana's futures open interest just plunged 30% in a single month, meaning thousands of bullish bets have been closed out. Yet the price is still sliding — currently hovering near $80 with analysts pointing to $68 as the next magnet. That combination of evaporating bullish conviction and a weakening price trend has historically preceded further drops in altcoins. Betting against Solana here means positioning on the side of the exiting crowd.

## Key details

- Symbols: SOL
- Timeframes: 4h
- Tags: \#crypto, \#mean\_reversion, \#breakdown

## 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

- [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)
- [Nvidia hits multi-year valuation lows while traders buy the dip — momentum reversal setup on NVDA](https://commonquant.ai/research/for-you/nvidia-hits-multi-year-valuation-lows-while-traders-buy-the--92f862b5-d6d2-44e1-acc8-7b6eca4210d8)

## Related

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