$SOL tagged 98.51 overnight, first sub-100 print in a while, and already got bought back to ~101.5. Down about 2% on the day but the wick told me there's real demand under 100.
What bugs me is positioning. Binance futures OI actually went up into the dump, from ~8.43M to ~8.69M SOL (~$879M), and global accounts are still ~74% long (L/S 2.92), top traders ~68% long by position. Funding just flipped slightly negative (-0.005%), so shorts are starting to pile in too.
On the NanoTrading Fire chart (4h) the liquidation bands are stacked thick around 104-106, right where the POC sits near 104. If $SOL reclaims 102 on a 4h close i think price gets pulled into that zone. Lose 98.5 and those crowded longs become the fuel, especially if $BTC keeps bleeding 👀
Who's buying this dip under 100 and who's waiting for 98.5 to break?
NFA, just how i'm reading it.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#SOL #Solana #NanoTrading
What bugs me is positioning. Binance futures OI actually went up into the dump, from ~8.43M to ~8.69M SOL (~$879M), and global accounts are still ~74% long (L/S 2.92), top traders ~68% long by position. Funding just flipped slightly negative (-0.005%), so shorts are starting to pile in too.
On the NanoTrading Fire chart (4h) the liquidation bands are stacked thick around 104-106, right where the POC sits near 104. If $SOL reclaims 102 on a 4h close i think price gets pulled into that zone. Lose 98.5 and those crowded longs become the fuel, especially if $BTC keeps bleeding 👀
Who's buying this dip under 100 and who's waiting for 98.5 to break?
NFA, just how i'm reading it.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#SOL #Solana #NanoTrading