Solana longs surge 91%, but can SOL’s price stay above $180?
Main Idea
Solana's retail long positions have surged to the 91st percentile, but the price faces resistance near $180, raising questions about its ability to sustain momentum.
Key Points
1. Solana's retail long positioning jumped from 72.68 to 75.25 in 24 hours, reaching the 91st percentile, indicating heavy crowding.
2. SOL's price has given up nearly half of its monthly gains after peaking at $206, with three straight lower daily closes.
3. A liquidity pocket around $183.30 holds $11 million in leveraged positions, which could fuel a breakout if SOL surpasses this level.
4. Funding rates flipped from -0.16% to slightly positive (0.0079%), signaling a shift from short-heavy pressure.
5. The divergence in long positioning between SOL and ETH (28th percentile) highlights SOL's heightened speculative activity.
Description
Solana longs get crowded near resistance - What's next?
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