$SOL Just Triggered a Massive Short Liquidation at $165.08 – What’s Next?
A major wave of short positions was liquidated at $165.08, wiping out over $51,370 in bearish bets. This signals aggressive short-seller pain and rising momentum from bulls. The price is showing signs of strength, and if this momentum sustains, it could mark the beginning of the next big move.
Technical Analysis:
Buy Zone:
$161.00 – $164.00
($SOL is showing accumulation in this zone. Strong buyer defense at the $161 level is visible.)
Breakout Confirmation:
Sustained move above $166.00 on volume confirms breakout. This level was resistance for over a week.
Target Zones:
Target 1: $172.50 (Near recent local high)
Target 2: $179.00 (Major resistance from April)
Target 3: $188.00 (Extension target if momentum accelerates)
Stop Loss:
$158.40 (Below key support, invalidates bullish setup)
Analysis Insight:
The liquidation at $165.08 has now flipped the zone into a psychological support area. With bears getting trapped, a potential short squeeze could ignite. Volume is increasing, and RSI is climbing without hitting overbought territory – suggesting more room to run.
Caution:
Avoid chasing high entries. Ideal setup is to enter on retests near $162–$164 with tight risk management.