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$SOL Long Liquidation Alert: $1.7645K at $196.05
The sol market is currently experiencing a long liquidation of $1.7645K at $196.05, indicating that a significant number of long positions are being liquidated.
This could be a sign of market correction or a possible shift in momentum.
Let’s break down the key details and look at the next steps.
What’s Happening?
The liquidation of $1.7645K at $196.05 suggests that many traders who were betting on $SOL to rise are being forced out as the price dips.
This could lead to a short-term pullback or a potential consolidation phase before the market decides the next direction.
Buy Zone
Look for a buying opportunity between $190 to $195.
If the price falls below $190, there might be more downward pressure, so be cautious and consider waiting for signs of support before entering.
Target
A realistic short-term target would be around $210 to $220.
These levels could act as resistance, and if the price starts moving up, this would be a good area to lock in profits.
Stop Loss
Set your stop loss at $180 to manage risk.
This helps protect your position in case the market moves against you, giving you a chance to exit with minimal losses.
Why This Could Work
The long liquidation could be a healthy correction, and if the price stabilizes at the buy zone, a recovery could push $SOL back up to the resistance levels.
With proper risk management (buying in the right zone and using a stop loss), there’s a strong chance of a profitable trade as the market finds a new balance.
Conclusion
The long liquidation at $196.05 could lead to an interesting opportunity for traders.
If the market stabilizes in the buy zone and starts moving upward, it might be a good chance to ride the potential rebound.
Always remember to use your stop loss to protect your position.