$SOL Liquidation Update
A $27K long position was liquidated at $206.18, indicating heavy resistance at that level. This suggests a potential reversal or correction in the short term.
Market Sentiment
$SOL has been on a bullish run recently, but the liquidation hints at over-leveraged positions getting flushed out.
The current price action shows signs of consolidation, which could lead to either a breakout or further correction.
Key Levels to Watch
Buy Zone:
$180–$190: A strong support zone where buyers are likely to step in.
If this zone breaks, the next major support is around $165–$170.
Target Levels:
Target 1: $205 (Short-term resistance).
Target 2: $220 (If momentum continues).
Target 3: $240 (Aggressive target if SOL breaks out strongly).
Stop Loss:
Below $175: To minimize risk if SOL breaks the critical support zone.
Next Steps for You
1. Wait for Confirmation: Don’t rush into the market. Watch how SOL behaves around the $180–$190 zone.
2. Set Alerts: Use price alerts to track key levels.
3. Risk Management: Only invest what you can afford to lose. Stick to your stop-loss level.
Technical Indicators to Use
RSI (Relative Strength Index): Check if it's oversold around the buy zone.
Fibonacci Retracement: Look for confluence at key levels like $180 and $220.
Volume Analysis: Ensure strong buying volume before entering.