10x Solana (SOL) Longs Pop Up: Are Whales Ready For $200?
2025-07-10 12:23:51
Main Idea
Large leveraged long positions in Solana (SOL) suggest whales are betting on a price surge to $200, but resistance levels and market conditions pose challenges.
Key Points
1. A whale opened a $12 million 10x leveraged perpetual futures position on Solana, indicating strong bullish sentiment.
2. SOL is currently consolidating below the $160 resistance zone, with previous attempts to break $175 failing.
3. The Relative Strength Index (RSI) is nearing overbought territory, which could signal a pivotal moment for SOL's price movement.
4. If buying pressure overcomes resistance, SOL could rally toward $200, but a rejection near this level could quickly reverse gains.
5. Market conditions remain cautious, with leveraged traders closely watching key resistance levels and potential volatility spikes.
Description
Solana moving up thanks to substantial surge of large derivatives volume
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