$SOL
# Long Liquidation Avalanche!
SOL Liquidated Long:
Amount: $789,000
Liquidation Price: $240.54
Solana traders faced a brutal reckoning as a whopping $789,000 worth of long positions were liquidated at $240.54.
This sharp decline highlights intense bearish pressure and exposes over-leveraged traders caught off guard in a highly volatile market.
Solana’s rally may have hit a critical hurdle, leaving bulls scrambling to recover.
What triggered the liquidation?
1. Bearish Momentum:
Sellers dominated as $SOL struggled to hold its recent highs.
2. Market Exhaustion:
The rally lost momentum near $240, triggering a cascade of liquidations.
3. Whale Activity:
Potential large-scale selling contributed to the downward spiral.
Current Value Analysis
If above $240.54: $SOL could attempt a recovery, with $240 as a key resistance.
If below $240.54: Watch for a deeper pullback towards $235 or $230 as support areas.
What’s next for SOL?
1. If Bullish:
Look for a clear bounce above $238 and target a recovery to $240 and above.
2. If Bearish:
Look for short selling opportunities near the $238 resistance, targeting lower support levels.
Key Move:
Solana Price Action Remains Unpredictable: Trade Smart, Stay Informed, and Manage Your Risk!
Will SOL Bounce or Dive Deeper?
Share Your View Below!