$SOL Liquidation Alert: $167K Long Position

The $167K long position on Solana ($SOL ) was liquidated at $231.62, causing a sharp drop in market momentum.

This event has raised concerns among traders as we see volatility picking up.

As SOL faces this significant setback, market sentiment is now uncertain, with some expecting further declines.

What’s next for $SOL ?

• Short-term outlook: We might see some more downside in the immediate future, especially if the market continues to react to the liquidation. Watch for potential support around the $220 mark.

• Long-term outlook: If SOL can stabilize and hold above $230, a bounce back is possible. However, any further liquidation could push prices lower.

Key levels to monitor:

Resistance: $240

Support: $220

Final thoughts:

It’s crucial to be cautious and monitor price action closely.

Keep your stop losses tight and avoid rushing into any trades until the dust settles.

Stay sharp and trade wisely!