SOL price drop to $180 would be 'golden' entry before rally to new highs

Key Points

1. SOL dropped 9.5% to $186, with $30 million in long liquidations occurring, marking its most significant daily drawdown since March 3.

2. Despite the drop, SOL's open interest (OI) hit an all-time high of $12 billion, indicating traders may be unwinding long positions.

3. The daily chart shows a bullish break of structure (BOS) at $180, with a golden cross between the 50-day and 200-day EMAs, a classic bullish signal.

4. A hold above $180 could reinforce bullish momentum, while a drop below may lead to a deeper correction toward $168–$157.

5. The recent 9% drop follows a 56% rally over the past 30 days, which is seen as a healthy reset after aggressive upside momentum.