Ah, the ever-volatile world of Solana! One moment it’s soaring like a bird, and the next, it’s plummeting like a stone. With Coinbase’s new perpetual futures, we find ourselves at a crossroads, where the potential for a rebound dances tantalizingly close, yet the specter of a crash looms ominously overhead. 🎢
- Our dear Solana is showing signs of weakness, slipping below the 7-day EMA ($183.5). It’s like watching a once-proud athlete trip over their own shoelaces.
- Bearish RSI divergence and a potential double-top formation around $206-210 suggest that the only way is down, my friends. 🎭
- Coinbase’s new SOL perpetual futures, with a leverage of up to 5x, could either send us soaring or plummeting-like a game of financial roulette!
After a glorious rally of 67% from the late-July bottom at $126 to the dizzying heights of $210 on August 14, Solana has decided to take a little vacation, retreating to a low of $175 yesterday. It’s like watching a soap opera-just when you think it’s all going well, the plot thickens!
Today’s daily candle hints at a possible bounce, but alas, SOL remains shackled below the 7-day EMA ($183.5), indicating that short-term momentum is feeling a bit under the weather.
Adding to our collective anxiety, we observe a clear case of bearish RSI divergence: as Solana reached new heights above $210, the RSI decided to take a nap, printing a lower high. This ominous signal, coupled with the failure to break above the $206 July peak, raises the risk that SOL is crafting a double-top formation around the $206-210 zone. A true artist in the making, wouldn’t you say?
If the bounce fails to reclaim and hold above the 7-day EMA and the $190 resistance region, we might be in for a bumpy ride. A breakdown below $173-170 (50-day SMA) could open the floodgates for a deeper correction toward the 100-day SMA near $166, and potentially even the $155 mark, which would signal the completion of a double-top neckline breakdown. Oh, the drama! 🎭
Could Coinbase’s new SOL perps trigger Solana price crash?
The risk of further downside is amplified by the recent launch of Solana perpetual futures on Coinbase. While these contracts offer U.S. traders a regulated way to trade SOL with up to 5x leverage, remember, dear reader, that leverage is a double-edged sword. ⚔️
On one hand, it could fuel a strong rebound if buyers decide to swoop in near the $175-$180 support zone. On the other hand, the same leverage makes it all too easy for traders to push Solana price lower through short positions, intensifying selling pressure if the market fails to hold key levels. It’s a classic case of “what goes up must come down”-unless, of course, it doesn’t!
US traders, are you ready?
You can now access SOL and XRP perpetual-style futures on Coinbase Financial Markets. Trade with no monthly expirations and access up to 5x leverage within a secure and regulated environment.
Explore the new perpetual-style contracts → here.…
– Coinbase Futures (@cbFutures) August 18, 2025
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2025-08-20 14:49