๐จ $NEAR BREAKOUT โ BUT WATCH THE LEVERAGE
The chart is giving 2021 $SOL vibes after breaking a 2.5Y trendline.
But the tape tells a different story:
โข ~$3B futures vs ~$630M spot โข OI around $1.5B โข Longs paying ~0.01% funding โข Hyperliquid OI near $370M โข ~$26M 10x long, liquidation around $1.35 โข Short liquidity stacked around $6.18โ$7.25
If spot liquidity stays this thin, perps could be driving the move more than real spot demand.
Now the key question: does that HL short shelf absorb the pressure or get swept? ๐
The chart is giving 2021 $SOL vibes after breaking a 2.5Y trendline.
But the tape tells a different story:
โข ~$3B futures vs ~$630M spot โข OI around $1.5B โข Longs paying ~0.01% funding โข Hyperliquid OI near $370M โข ~$26M 10x long, liquidation around $1.35 โข Short liquidity stacked around $6.18โ$7.25
If spot liquidity stays this thin, perps could be driving the move more than real spot demand.
Now the key question: does that HL short shelf absorb the pressure or get swept? ๐
