$SOL Long Liquidation Update: $2,279.3 at $145.98
$SOL just witnessed a significant long liquidation of $2.27K at $145.98. This signals a crucial shift in market sentiment and suggests weakness among leveraged buyers. Here's a detailed breakdown and a strategic trade idea based on this event:
Technical Analysis and Strategy
Current Price Range: $145.50 – $147.20
Key Liquidation Point: $145.98 (major support now turned into resistance)
Buy Zone (Re-entry Zone):
$138.50 to $141.00
This is a potential demand zone where price could find stability. Look for consolidation or bullish structure before entering.
Targets:
1. Target 1: $148.50 – Retest of liquidation zone with resistance flip
2. Target 2: $152.80 – Breakout confirmation if momentum builds
3. Target 3: $158.00 – Bullish continuation towards major resistance
Stop Loss:
Below $136.00
A clear invalidation of bullish structure if Solana breaks and holds under this level.
Unique Insight:
This liquidation flush could be a bull trap or a shakeout, designed to clear over-leveraged longs before a potential rally. Watch closely for volume spikes and higher lows near the buy zone — a clean reclaim of $145.98 could flip the narrative bullish again.
