Crypto Markets Hit by $250M Short Squeeze
- Market Volatility Surge: The cryptocurrency market experienced approximately $250 million in forced liquidations over a 24-hour period, with short positions suffering the most significant losses, highlighting the high leverage risks and volatility inherent in digital asset derivatives markets.
- Ethereum Leads Liquidations: Ethereum saw a total liquidation of $120 million, with short positions accounting for 89.48%, indicating an excessively bearish market sentiment that forced many traders to cover their positions as prices rebounded.
- Bitcoin Liquidation Overview: Bitcoin's liquidation amounted to $108 million during the same timeframe, with short positions comprising 83.95%, demonstrating its continued dominance in derivatives trading despite a slightly lower liquidation amount compared to Ethereum.
- Solana's Liquidation Surge: Solana experienced $21.95 million in liquidations, with short positions representing 91.05%, reflecting its characteristics as a high-volatility asset that attracts substantial speculative trading activity.
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Technical Analysis for SOL
Technical Sentiment Analysis for Solana (SOL) As of , Solana (SOL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Solana (SOL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 15.893 | 41.697 | 67.243 | 93.047 | 118.593 | 144.397 | 169.943 |
| Fibonacci | 41.697 | 61.312 | 73.431 | 93.047 | 112.662 | 124.781 | 144.397 |
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