$SOL The current price is hovering around 101.5, back and forth. Compared with the big bearish candle from the past two days that was slammed straight down from 110 to 97, the past two days’ bulls have at least managed to pull the price back toward the middle range.
Now the situation is: the long position is 223 million U, with an average price of 102.8, and an unrealized loss of 2.94 million; the short position is 112 million U, with an average price of 97.5, and an unrealized loss of 4.41 million.
If the shorts have a lower average entry price, why are they losing more instead? Most likely, they didn’t exit during the earlier selloff, or they tried to add positions in the middle and got trapped. This shows that both longs and shorts are essentially “waiting it out” in the current market, but the short camp is clearly more panicked. If the price bounces slightly upward, the risk of short liquidations will increase a lot.
The funding rate is only 0.0018%, basically zero. To put it plainly, both sides have no temper right now—nobody wants to add leverage first. The open interest fluctuates between 15.6M and 16.4M, jumping around, which suggests that capital is just moving back and forth inside without any big money coming in to make a bet.
On the technical side, 104.8 is a hard resistance in the short term. Below that, 100 to 98 is recent support. The 4-hour RSI is around 50, which is very neutral, and the MACD is also stuck in a sticky/adhesive state. In the short term, SOL is basically being pinned and ground in the 100 to 105 range like meat in a grinder. Plus, this week has the FOMC— the usual playbook for the main players is to sweep stops back and forth.
If you hold spot, just keep your core position and don’t move it. If you enter perps now, going long or short could easily get whipsawed. If you really want to trade, only consider adding a bit of spot around 98 to 100. If it breaks below 97, recognize the mistake and exit. If it surges upward, reduce positions in batches once it’s above 104, and don’t get greedy.
For this SOL consolidation, are you watching from outside, or are you getting swept back and forth from within? #SOL
Now the situation is: the long position is 223 million U, with an average price of 102.8, and an unrealized loss of 2.94 million; the short position is 112 million U, with an average price of 97.5, and an unrealized loss of 4.41 million.
If the shorts have a lower average entry price, why are they losing more instead? Most likely, they didn’t exit during the earlier selloff, or they tried to add positions in the middle and got trapped. This shows that both longs and shorts are essentially “waiting it out” in the current market, but the short camp is clearly more panicked. If the price bounces slightly upward, the risk of short liquidations will increase a lot.
The funding rate is only 0.0018%, basically zero. To put it plainly, both sides have no temper right now—nobody wants to add leverage first. The open interest fluctuates between 15.6M and 16.4M, jumping around, which suggests that capital is just moving back and forth inside without any big money coming in to make a bet.
On the technical side, 104.8 is a hard resistance in the short term. Below that, 100 to 98 is recent support. The 4-hour RSI is around 50, which is very neutral, and the MACD is also stuck in a sticky/adhesive state. In the short term, SOL is basically being pinned and ground in the 100 to 105 range like meat in a grinder. Plus, this week has the FOMC— the usual playbook for the main players is to sweep stops back and forth.
If you hold spot, just keep your core position and don’t move it. If you enter perps now, going long or short could easily get whipsawed. If you really want to trade, only consider adding a bit of spot around 98 to 100. If it breaks below 97, recognize the mistake and exit. If it surges upward, reduce positions in batches once it’s above 104, and don’t get greedy.
For this SOL consolidation, are you watching from outside, or are you getting swept back and forth from within? #SOL
