$SOL: Rejection or Breakout?SOL / TetherUS PERPETUAL CONTRACTBINANCE:SOLUSDT.PTealstreetSOLUSDT has spent the past month trading like a short-driven market, with most of the pressure coming from leveraged traders rather than spot holders. Funding on Binance stayed negative in roughly two-thirds of the observations while SOL dropped around 19% and open interest fell about 21%, showing longs were getting flushed out. At the same time, larger spot players were still net buyers by roughly $18M even as perp whales kept selling. That's not outright bullish, but it does suggest the selling pressure has mostly been coming from leverage, not cash holders dumping every rally. On the 4H chart, $74-76 remains the main trouble zone. I'm expecting sellers to show up around that area, so a rejection wouldn't be surprising. The key level for me is how price behaves around $70-68. If SOL can turn that region into short-term support and we start seeing buyers step in, there's still a path for a move back into the $80s. If that support fails, I could see price deviating lower into the $66-65 area first. From there, we'll have to see how the market responds. A weak bounce would likely turn the $70s into resistance and keep SOL stuck below the trouble zone, while stronger demand could set up another attempt higher.