Solana Retail Longs Surge Near Key Resistance Amid Mixed Price Momentum and Market Positioning
Main Idea
Solana (SOL) retail longs have surged to the 91st percentile, indicating strong bullish sentiment as the price tests key resistance near $180, while Ethereum (ETH) retail longs remain modest.
Key Points
1. Solana's retail long positions have climbed to the 91st percentile, signaling strong bullish sentiment amid price resistance near $180.
2. Ethereum (ETH) retail longs remain modest, hovering around the 28th percentile with only a slight increase from 57.12 to 58.21.
3. The Funding Rate for Solana has shifted from -0.16% to a slightly positive 0.0079%, indicating a transition from a short-heavy to a long-biased market.
4. A significant liquidity pocket at $183.30 holds close to $11 million, suggesting a critical moment for Solana's price movement.
5. The high retail long percentile for Solana places the asset at a pivotal moment, with potential for either a breakout or a sharp correction.
Description
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