$SOL $SOL There is currently an important short liquidation observed, where shorts were liquidated for $3.6K at $148.3. This is a sign of strong movement from the bulls, and if the momentum continues, the price may rise even further.
Key Level to Watch: $148
If the price remains above $148, there are chances that the following resistance levels will be tested.
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Why This Could Be a Good Buy:
Short Squeeze Reaction: When short positions are liquidated, buying pressure increases. This can cause the price to rise further.
Key Support at $148.3: If the price remains above this level, it could become support, where there are chances of a bounce.
Strong Momentum: The liquidation means that buyers are active. This could be the beginning of a new rally.
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Buy Zone:
Entry Point: Watch if the price remains above $148. If the price bounces in the range of $147–$148, it could be a good entry zone.
Target 1: $155
Target 2: $160
Final Target: $170
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Stop-Loss:
$SOL Risk Management: Place the stop-loss below $146. If the support breaks, the loss will be limited.
What I'm Watching:
The level of $148 is crucial. If it holds, I will be bullish for the targets of $155 and beyond.
Pay attention to volume and candle patterns, which will confirm if the rally continues.
This setup looks promising. If conditions align, I will take the entry.
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