SOL Short Liquidation Sparks Short-Term Bullish Momentum
I observed that $264K of short positions on SOL were liquidated at $191.52, indicating forced short-covering around that price.
I view this as a sign of short-term bullish momentum, but it’s only one data point — I want to see follow-through on volume and support hold before increasing exposure.
I will watch price action and consider buying on weakness near confirmed support rather than chasing the spike.
Analysis
Recommendation
Watch for follow-through and volume; consider buying on weakness with clear stop-loss levels rather than buying into the immediate spike.
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.