SOL is showing strong bullish indications in the short term, as it is currently trading at a significant support level (highlighted as the orange box).

Additionally, there is a formation of a bullish pattern known as a falling wedge, suggesting a potential target of $23.4 before a retest of the previous lows. There is even a possibility of the price going lower towards $5 by the end of the year.

Considering these factors, I am considering taking long positions with a tight stop loss to protect against my existing short positions.

The expected duration for this trade is similar to the ARB mentioned in the previous post, which is around 1-2 weeks.

It is crucial to note that the bullish scenario outlined above would be invalidated if the price falls below the orange box and breaks the falling wedge pattern.