Solana [SOL] is on the brink of a potential breakout as whales accumulate and shorts are liquidated

Solana [SOL] is causing a stir in the market after bouncing off its recent lows on the price charts. Traders are closely watching to see if SOL can successfully break out of its resistance levels and start a bullish rally. On-chain data reveals that whales, who hold over $5 million worth of stablecoins, control 61.63% of the total supply, suggesting confidence in a potential upside move. Recent liquidation data shows a significant increase in short positions being liquidated compared to long ones, indicating caution among short traders and adding fuel to the upside potential. The long/short ratio reflects a growing bullish sentiment among traders, but with a significant percentage still betting against Solana, volatility can be expected. Traders should keep a keen eye on the resistance levels as Solana stands on the brink of a potential breakout.