A substantial long position in Solana
$SOL worth $144,000 was liquidated at $180.60, indicating notable selling pressure in the market.
Support and Resistance Levels:
Immediate Support: $178.04 – a level that may attract buyers.
Immediate Resistance: $201.82 – a recent high that could act as a barrier.
Recommendation:
Given the current market dynamics, it's advisable to exercise caution. Consider waiting for a clear breakout above $SOL 201.82 before entering a long position, or a breakdown below $178.04 before considering a short position. Always employ appropriate risk management strategies, such as stop-loss orders, to safeguard your investments.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research before making any trading decisions.
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