$SOL trades at $72.20, up 4.79% over the past 24 hours after rebounding from an intraday low of $67.41 to a high of $73.28, with Binance spot volume reaching $349M.
Following a severe market-wide flush over the weekend, Solana open interest contracted by more than 11% to $4.2 billion, eliminating over $69M in long liquidations. Derivatives metrics show funding rates dipping into negative territory (-0.0008% to -0.0042%), reflecting crowded short positions.
Liquidation heatmaps show heavy short clusters between $74.00 and $75.00, with more than $28M in short liquidations exposed if bulls reclaim $73.50. On the downside, primary support holds between $68.50 and $69.80, with critical macro defense at $65.00. Volatility remains elevated as traders watch for a decisive breakout.
#SOL #Solana #CryptoTrading
Market observation only, NFA.
Following a severe market-wide flush over the weekend, Solana open interest contracted by more than 11% to $4.2 billion, eliminating over $69M in long liquidations. Derivatives metrics show funding rates dipping into negative territory (-0.0008% to -0.0042%), reflecting crowded short positions.
Liquidation heatmaps show heavy short clusters between $74.00 and $75.00, with more than $28M in short liquidations exposed if bulls reclaim $73.50. On the downside, primary support holds between $68.50 and $69.80, with critical macro defense at $65.00. Volatility remains elevated as traders watch for a decisive breakout.
#SOL #Solana #CryptoTrading
Market observation only, NFA.