$SOL Market Update

Liquidation Alert:

$98.7K in long positions were liquidated at $229.49, indicating strong selling pressure and a potential shift in market sentiment.

Market Overview:

$SOL has experienced a pullback after the liquidation of long positions. The price is now approaching crucial support levels, and the next few moves will depend on whether these levels hold or if further downside occurs.

Key Levels to Watch:

Resistance: $235.00 – $240.00 (Key resistance zone; a break above could signal a potential recovery)
Support: $225.00 – $220.00 (Critical support area; a breakdown below could open the door for further declines)

Trade Strategy:

Buy Zone: $225.00 – $229.49 (If price shows signs of stabilization and a bounce)
Sell Zone: $235.00 – $240.00 (If price faces resistance and struggles to break higher)
Target: $250.00+ (If bullish momentum resumes and the price breaks resistance)

Market Sentiment:

$SOL is under pressure following the liquidation event, but if it holds support near $225.00, there could be a chance for a recovery. A failure to hold this support zone could lead to further declines.

Keep a close watch on the price action and manage your risk accordingly.

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