A significant event has occurred in the Solana $SOL market: a short position worth $102,000 was liquidated at $193.07. This suggests that the price rose above this level, triggering the liquidation.
Support and Resistance Levels:
Support Levels:
First Support: $180.49
Second Support: $176.20
Third Support: $169.33
Resistance Levels:
First Resistance: $191.65
Second Resistance: $198.52
Third Resistance: $202.80
These levels indicate potential price points where SOL might experience buying support or selling pressure.
Recommendation:
Given the current price of $193.50, which is above the first resistance level, there's potential for further upward movement toward the second resistance at $198.52. However, if the price fails to maintain above $191.65, a pullback toward the support levels could occur.
Suggestion:
Buying Opportunity: If $SOL SOL sustains above $191.65 and shows strong momentum, it could be a signal to consider buying, targeting the next resistance levels.
Selling Consideration: If SOL falls below $191.65, it might indicate a potential decline toward the support levels, suggesting a selling opportunity or a point to set stop-loss orders.
Always conduct thorough research and consider your risk tolerance before making trading decisions.