Behind the SOL Surge: FOMO Peak or Liquidation Trap?
Since early March, SOL has returned above 150 for the first time, with options trading volume surging over 715% in the past 24 hours, and funds pouring in crazily.
📈 Bullish Crowd:
Binance long-short ratio has reached 1.64, OKX at 1.21, indicating extreme consensus in market direction.
SOL has rebounded 60% this month but has not yet entered the overbought zone.
📉 Potential Risks:
Binance's negative delta has skyrocketed, and liquidity data shows concentrated selling pressure.
$120 million in sell orders has accumulated, and short-term liquidation risks are building up.
If leveraged long positions trigger a liquidation cascade, it could replay the high-level washout scenario.
🔍 Macro Drivers:
Part of SOL's rise comes from favorable news released by Brazil regarding "tariff reduction and delayed negotiations", but these gambits are essentially high volatility + short cycle; FOMO is merely a facade.
Upper technical resistance is concentrated around $179-181; if not broken, it may fall into severe fluctuations again. Lower support is seen in the range of $124-111.
After two consecutive weeks of gains, SOL bulls are approaching the limit of their sentiment. To increase positions or retreat? It’s a matter of a thought.
