Solana’s Bearish Trend Deepens Amid $1.2B Short Positions and Weakening Holder Confidence
Solana's price correction is showing signs of intensifying as traders increasingly favor short positions, with $1.2 billion in bearish bets overshadowing $924 million in long positions. The Spent Output Profit Ratio (SOPR) has dropped to neutral levels, signaling reduced profit-taking and eroding confidence among holders. Liquidation data highlights a strong short bias, while the Bull-Bear Power Index's downward trajectory further underscores the prevailing bearish sentiment. As of July 2025, solana faces an extended pullback, with market dynamics suggesting continued pressure in the near term.
Solana Faces Extended Pullback as Traders Favor Short Positions
Solana's price correction shows signs of deepening, with $1.2 billion in short positions signaling bearish sentiment. The Spent Output Profit Ratio (SOPR) has declined to neutral levels, indicating dwindling profit-taking and weakening holder confidence.
Liquidation data reveals a pronounced short bias, with $1.28 billion in bearish bets outweighing $924 million in long positions. The Bull-Bear Power Index's downward trajectory further confirms eroding bullish momentum, suggesting the current retracement may extend beyond typical market cooldowns.
Solana Price Prediction: SOL Eyes $300 Amid Bullish Market Sentiment
Solana (SOL) is gaining momentum as analysts predict a potential surge to $300 by 2025, fueled by institutional interest and technical breakout patterns. Trading at $182, SOL has cleared a multi-month resistance zone, with CoinCodex projecting targets between $194 and $306 for 2026. Bloomberg analysts estimate a 90% approval chance for Solana spot ETFs, which could mirror the bullish effects seen with Bitcoin and ethereum ETF launches.
The layer-1 blockchain's DeFi ecosystem now boasts a total value locked (TVL) exceeding $10.9 billion, driven by platforms like Kamino and JitoSOL. If SOL maintains its position above $190, short-term targets could reach $250-$260, setting the stage for a significant upward trajectory.
Solana (SOL) Plunges by 10% Weekly, But Market Signals Suggest Buying Opportunity
Solana's SOL token has dropped over 10% in the past week, trading around $177 amid broader market weakness. Yet technical indicators and on-chain data hint at a potential rebound. The Relative Strength Index (RSI) sits NEAR 30—traditionally signaling oversold conditions—while exchange outflows suggest accumulation.
Analyst Ali Martinez highlighted a buy signal from the TD Sequential indicator, echoing patterns that preceded previous rallies. Some traders are even forecasting a run toward $400, citing Solana's resilient network activity and growing institutional interest. "Smart money isn't chasing later—it's positioning now," argued one bullish commentator.
The scenario mirrors late 2023, when SOL consolidated before a parabolic breakout. A weekly close above $230 could confirm the start of a new uptrend, according to BitBull Capital. Market participants appear to be treating the dip as a buying opportunity rather than a structural downturn.
Play Solana Launches PSG1 Limited Edition with Pudgy Penguins Collaboration
Play Solana has unveiled the PSG1 Limited Edition handheld gaming device in partnership with Pudgy Penguins, priced at $349. The device, announced in September 2024 as Solana's first blockchain gaming handheld, features a Rockchip RK3588S Octa-Core ARM CPU, 8GB RAM, and 128GB storage. A built-in hardware wallet secured by SvalGuard and connectivity via WiFi 6.0 and Bluetooth 5.4 highlight its technical specs.
The collaboration includes a commitment from Play Solana to buy and burn the $PENGU token for each unit sold. While full specifications remain undisclosed, the Limited Edition boasts a Pudgy Penguin design on the rear panel, retaining the original 3.92-inch OLED display and retro-inspired vertical FORM factor. Exclusive pre-installed content is anticipated, though hardware upgrades are unconfirmed.
