đš Liquidations Are Heating Up Around $SOL! âĄđ„
Since the recent move around the $119 area, SOL has been trading in a highly leveraged environment.
More than $7 BILLION in SOL futures open interest is still sitting in the market, while roughly $13.15M in positions have already been liquidated over the last 24 hours.
The interesting part?
A relatively small move in SOL is now enough to force overleveraged traders out of their positions.
Recent liquidation data shows that the pressure has been hitting both sides, but the latest 24H snapshot was heavily dominated by long liquidations â meaning many traders were positioned for the upside and still got caught when SOL pulled back.
With billions still locked in futures positions, another sharp move could trigger a fresh liquidation wave.
If SOL starts pushing higher again, trapped shorts could become the next source of fuel. đ
Is SOL preparing for another squeeze?
Since the recent move around the $119 area, SOL has been trading in a highly leveraged environment.
More than $7 BILLION in SOL futures open interest is still sitting in the market, while roughly $13.15M in positions have already been liquidated over the last 24 hours.
The interesting part?
A relatively small move in SOL is now enough to force overleveraged traders out of their positions.
Recent liquidation data shows that the pressure has been hitting both sides, but the latest 24H snapshot was heavily dominated by long liquidations â meaning many traders were positioned for the upside and still got caught when SOL pulled back.
With billions still locked in futures positions, another sharp move could trigger a fresh liquidation wave.
If SOL starts pushing higher again, trapped shorts could become the next source of fuel. đ
Is SOL preparing for another squeeze?
