Key Insights
- Solana holds $182 support as traders watch for rebound toward $188–$192 or drop below $176.
- Recent liquidations cleared leveraged longs, reducing risk and leaving market conditions cleaner for SOL’s next move.
- $181–$182 remains Solana’s critical level, likely deciding whether price continues upward or breaks lower.
Solana (SOL) is currently trading near $182, supported by a 24-hour trading volume of $5.15 billion. The token has gained 1% in the past day and is up 3.81% over the past week. Despite this modest growth, the chart shows that SOL has been consolidating after a sharp pullback from its recent highs.
Earlier this week, the price tested levels above $200 before facing strong selling pressure that pushed it back toward the $182 region. The $182 level has now become an important short-term support, with buyers stepping in multiple times to keep the market from dropping further.
Support Levels Define Market Action
Analyst TraderSZ commented, “$SOL support,” referring to the importance of this current range. The $182 zone has acted as a pivot, preventing deeper losses and giving traders a level to watch for potential rebounds. If SOL manages to hold above this support, the next upside targets could be between $188 and $192.
However, a decisive break below $182 would leave the door open for further declines. In that case, traders may look toward the $176–$172 area as the next possible downside zone. Market participants are watching closely to see if Solana can maintain its footing around current prices or if more selling pressure will emerge.
Long Position Liquidations Reshape the Market
A separate view comes from CW, who shared a liquidation heatmap showing how leveraged long positions in SOL were recently flushed out. The sharp decline from $195 to the $178–$180 zone triggered widespread liquidations, especially between $188 and $192. These levels saw the heaviest pressure as cascading stop-outs forced prices lower.
The heatmap also showed additional liquidation activity around $183–$185 before the market found temporary stability near $180. According to the analyst,
“$SOL has liquidated most of its high leveraged long positions. Only a small amount remains.”
This indicates that much of the leverage in the market has already been cleared, leaving conditions less crowded by vulnerable long orders.
Traders Await the Next Move
With the bulk of leveraged longs removed, the market may be positioned in a cleaner state with reduced risk of cascading liquidations. The focus now shifts to whether SOL can hold its support between $178 and $182.
If buying strength increases, a push toward $188–$192 could follow. If selling resumes, however, traders may look to the lower $170s as the next support. For now, the $181–$182 level remains the key area that could decide whether Solana extends its weekly gains or gives back ground.
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Source: https://coincu.com/uncategorized/solana-surges-4-weekly/