$SOL is sitting right on the 100 handle again, around 100.5 and down about 0.7% on the day, after that 98.51 wick earlier that got bought pretty fast.
On the NanoTrading Fire chart (4h) the volume POC is up at 104.12 and value area low is about 101.25, so price has slipped under value. The liquidation heatmap shows the short liquidation bands stacked above, with the thickest ones roughly around 108.5 and 120, and heavy ask liquidity between 108 and 111. Below price the bid bands near 100-101 look thin.
Binance futures data says the crowd is still leaning long. About 74% of accounts are long (L/S around 2.83, slowly dropping) and top traders sit near 69% long. Funding is mildly positive at ~0.0079%, and OI has drifted down from about $886M to $865M, so nobody is adding size here.
My read: losing 100 on a 4h close opens a retest of that 98.5 wick, and with thin bids that could be quick. A reclaim of 101.25 and then 104 puts $SOL back in value and the 108.5 shorts become the magnet 👀
Do you trust the 100 level one more time or wait for the POC reclaim?
NFA, just how I'm reading it.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#SOL #Solana #NanoTrading
On the NanoTrading Fire chart (4h) the volume POC is up at 104.12 and value area low is about 101.25, so price has slipped under value. The liquidation heatmap shows the short liquidation bands stacked above, with the thickest ones roughly around 108.5 and 120, and heavy ask liquidity between 108 and 111. Below price the bid bands near 100-101 look thin.
Binance futures data says the crowd is still leaning long. About 74% of accounts are long (L/S around 2.83, slowly dropping) and top traders sit near 69% long. Funding is mildly positive at ~0.0079%, and OI has drifted down from about $886M to $865M, so nobody is adding size here.
My read: losing 100 on a 4h close opens a retest of that 98.5 wick, and with thin bids that could be quick. A reclaim of 101.25 and then 104 puts $SOL back in value and the 108.5 shorts become the magnet 👀
Do you trust the 100 level one more time or wait for the POC reclaim?
NFA, just how I'm reading it.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#SOL #Solana #NanoTrading