Key Insights:
- $148 holds dense short liquidity; a breakout could trigger mass liquidations and fast price movement.
- $130 is critical support; holding this level keeps the door open for higher long-term targets.
- Breakdown under $130 opens risk toward $70–$80 zone, with possible shakeout below $100 first.
Recent order book data shows a large cluster of liquidity forming near the $148 level on Solana (SOL). This zone is marked by a dense band of red and orange on the liquidity heatmap, pointing to a build-up of stop orders and high-leverage short positions.
SOL has been trading in a narrow range between $137 and $143 since falling from above $150. Traders are watching $148 closely, as a push toward this level could trigger liquidations of short positions.
As CW noted,
“if $SOL rises to just $148, most high leverage short positions will be liquidated.”
If hit, this level could act as a launch point for rapid upward price movement, commonly referred to as a short squeeze.
$130 Demand Zone Marks a Critical Support Area
A broader chart shared by CryptoPatel outlines a key support zone at $130. SOL is currently holding just above this level, which also lines up with past areas of accumulation and trendline support. The market has reacted to this zone several times, making it an area of interest for traders watching longer-term trends.
If this support continues to hold, a move toward $185 becomes possible. The chart also shows extended targets as high as $293, based on historical price swings. Long-term projections suggest the potential for a larger move, with Fibonacci extension levels pointing to ranges between $500 and $1,000. These levels are mapped out using data from earlier trend reversals and are used to measure possible price expansion over time.
Break Below Support Could Open Lower Price Zones
Should the $130 support fail, the next potential area for price to settle lies between $70 and $80. This zone aligns with key Fibonacci retracement levels—the 0.382 and 0.5 marks—often used to identify where corrections could pause or reverse. CryptoPatel stated, “a wick under $100 would be a classic shakeout before the next macro leg,” suggesting the possibility of a fast drop followed by a recovery.
There is also an area between $40 and $50 labeled as a Fair Value Gap. This level may draw price attention if the decline extends further, although it is not expected unless broader market conditions weaken.
Current Price and Trading Volume
SOL was priced at $142.01, with a 24-hour trading volume of $3.38 billion. The price is down 0.2% over the past 24 hours and 10.3% over the past 7 days. Market participants are watching the $130 support and $148 resistance closely, as movement through either level could lead to increased volatility and a change in short-term direction.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/sol-surge-to-148-could-trigger-mass/