SOL Short Liquidation at $193.41 Signals Near-Term Bullish Momentum
I noticed a $50.4K short liquidation in SOL at $193.41. That level forcing stops suggests short-covering pressure and a bullish intraday move.
I view this as a momentum signal: if buying volume confirms, the market may push toward nearby resistance around $200–$210. The move could be a short squeeze rather than sustainable accumulation.
I remain cautious on size and risk — use defined stops and consider scaling in rather than going all in.
Analysis
Recommendation
I recommend a cautious buy for short-term traders: consider a partial position or buy-on-break above $200, keep tight stops below recent support, and scale exposure as momentum confirms.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.