Solana (SOL) is at a pivotal juncture as a liquidation imbalance swells to 19,138%, following a rebound from a challenging 2025. Data from CoinGlass shows short-position traders have been disproportionately affected, with the imbalance rising to 19,138%. Over the past hour, shorts were wiped out by $300,110 as Solana briefly surged from $123.50 to a daily high of $126.57. The market is supported by a Relative Strength Index of 45.40, suggesting room for upside before the asset becomes overbought, while trading volume has surged to $3.13 billion.
Analysts say continued restraint from short-term profit-taking will be crucial if Solana aims to push toward the $130 resistance level before year-end. Technical levels indicate cautious optimism: Solana must hold above the key support at $123.35 to maintain momentum. A sustained move above this level could open the door to the first major resistance at $137.65, with further upside potential toward $144.66 and $152.20.
Conversely, a break below $123.35 could expose the asset to a decline toward $110.57, underscoring the importance of these pivot points for short-term traders. Recent price patterns show SOL navigating a descending wedge near $120, reflecting ongoing market pressure. Futures data indicate a bearish tilt, with short positions accounting for approximately 52.5% of open interest, which stands at $7.68 billion. Despite this, institutional interest remains steady, with spot ETF inflows of $2.93 million daily, suggesting a measured but consistent demand that could support price stability.
Leave a Reply