Technical analysis by Phillipklh about Symbol SOL: Sell recommendation (10/28/2025)

After a pretty enduring phase of complex corrective movement, Solana presents itself with impulsive bullish structure today. As I said in my Ethereum analysis, the macro environment seems to be very bullish with rate cuts and a tariff deal between the United States and China may be incoming. So with that said, I think the upside opportunity in mid- to long-term could be large. But for short-term, the current market structure looks similar to Ethereum as we are unfolding a rather complex intermediate wave 2. For now therefore, I expect Solana to drop to around $182.10. This scenario is supported by the liquidation heatmap as it shows liquidity built up throughout the latest move up. Indicators like the RSI already showed overbought prices by the end of the move up, which is untypical early for a starting third wave. Not to forget the overall structure being rather slow whilst moving up, which also doesn't fit in the impulsive characteristics of the third wave. So the alternative would be, that this is the third wave, but as I said I think this is very unlikely for me. Overall Solana provides us a short setup. If you want to take that trade I recommend putting the stop loss at the latest local high or one percent above if you want to be sure and the take profit at the 0.764 retracement level.