Market Shock: $SOL Long Liquidation at $80.4K!
A massive long position worth $80,400 was liquidated at $235.08, underscoring the volatility in the Solana market.
Currently, Solana (SOL) trades around $236-$245, experiencing minor fluctuations within the past 24 hours.
This follows a recent rally, with the token nearing its all-time high of $263 on November 23, 2024, supported by growing ecosystem adoption and ETF optimism.
Why It Matters:
1. $SOL price has surged over 30% in the last month, benefiting from bullish sentiment in the crypto market.
2. Liquidations at such high values highlight the risks of leverage, especially during market corrections.
Traders are now eyeing critical resistance at $250, with speculation about $SOL potentially challenging $300 before the year's end.
However, volatility remains a constant threat as the market digests recent gains.
Risk management is key!
