The third week of August saw a sharp decline in the altcoin market, with the market cap dropping 7% from $1.1 trillion to $1.03 trillion, triggering a wave of short-term selling among derivatives traders. How severe are the liquidations of open positions?
🚨 The liquidation map reveals coins in the danger zone:
1. Solana (SOL) – A battle between bulls and bears!
· Current situation: Dominance of short positions (short selling) with positive developments such as:
· SIMD-0326 proposal for consensus improvement rejected.
· Processing 104 thousand transactions/second (new record!).
· Liquidation risks:
· If SOL rises above $200: $1.1 billion in short positions will be liquidated.
· If it drops to $161: $646 million liquidation from long positions.
· Analyst warning: Potential drop below $170** before rebounding above **$200 (risk on both sides!).
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2. Dogecoin (DOGE) – A struggle between optimism and gains!
· Positive news:
· Grayscale requests to convert the DOGE Trust into an ETF.
· 70% probability of DOGE ETF approval by the end of 2024.
· 30% rise in August (from $0.188** to **$0.255).
· Liquidation risks:
· If it falls to $0.20: $176 million liquidation (long positions).
· If it rises to $0.26: $290 million liquidation (short positions).
· Bullish forecasts: Some analysts expect a rise to $1.8 (based on an ascending triangle pattern).
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3. Chainlink (LINK) – A delicate balance between selling and buying!
· Positive indicators:
· Increased whale purchases (+1.1 million LINK in a week).
· Price has increased 50% since the beginning of August.
· Liquidation risks:
· If it drops below $22: $85 million liquidation (long positions).
· If it rises to $27: $85 million liquidation (short positions).
· Potential sell signal: Increase in exchange reserves (profit-taking).
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📌 Summary:
· SOL, DOGE, and LINK face immense liquidation pressure with rapid volatility.
· Large liquidity means sudden moves in both directions.
· Investors need to be cautious of short-term volatility despite the fundamentals being positive.
#كريبتو #Trading #SOL #DOGE #LINK #Liquidations #Altcoin 🚀
