- Approximately $60 million in long liquidations sits below SOL, compared with $16 million in potential short liquidations above spot.
- Large positions remain 88% long, while smaller accounts show 59% bullish exposure, according to Market Sniper Pro’s figures.
- The RSI from SOL is below 27.57, and the MACD indicator is on a negative trend, further confirming the downward momentum.
The liquidation pressure at Solana is mounting with leveraged positioning, declining momentum and focused downside risk keeping the market on its toes.
Large Traders Maintain Bullish Positions Despite Growing Downside Exposure
Market Sniper Pro has drawn attention to an unusual positioning imbalance. According to the account, positions exceeding $1 million are 88% long. Smaller positions show a comparatively lower bullish allocation of 59%.
The distinction suggests larger accounts remain more confident about SOL’s direction. However, their positioning contrasts with the liquidation map’s considerable downside exposure. This difference creates an interesting situation for traders monitoring leveraged market activity.
The liquidation heatmap identifies approximately $60 million in potential long liquidations below spot. Meanwhile, short liquidations above the reference price total approximately $16 million. The difference leaves considerably more leveraged exposure vulnerable during a decline.
The map places SOL’s reference price around $92. Long liquidation clusters extend towards $85 and eventually $71. The largest individual concentration appears around $71, representing approximately $17 million. These figures identify potential liquidation areas, not guaranteed future price destinations.
$85.12 Emerges as an Important Level for Large Positions
The post also identifies a notable large-position concentration. The account reports a $5 million position level around $85.12. That price sits approximately 7.6% below the reported spot level.
This concentration deserves attention because it falls within the map’s downside liquidity region. A decline towards $85 could expose additional leveraged positions. Forced closures could then increase selling activity around that area.
The heatmap also shows several smaller liquidation clusters between $75 and $85. Further down, the $71 concentration represents the largest individual exposure. A move towards this level could trigger additional forced selling.
Above spot, green liquidation clusters appear around $98, $103 and $109. These areas represent potential short liquidations if SOL stages a recovery. Forced short closures could create additional buying demand during an upward move.
Daily Technical Indicators Continue to Favour Sellers
The daily chart provides further context for the liquidation data. SOL recently traded around $92.446, following a decline from approximately $122. Its price action remains confined within a descending channel established during October.
The channel’s upper boundary continues to restrict recovery attempts. Meanwhile, the lower trendline provides a reference for potential downside support. Recent candles show sellers maintaining control despite occasional attempts by buyers.
The Relative Strength Index currently reads 27.57. This places SOL below the commonly monitored oversold threshold of 30. Its signal average stands at 34.30, showing the extent of recent momentum weakness.
The MACD also remains firmly within negative territory. Its reading stands at -4.209, against a signal line of -3.363. The histogram reads -0.846, reflecting continued bearish momentum.
These indicators leave SOL facing two competing market scenarios. A breakdown could expose the $85 region and deeper liquidation clusters. Conversely, recovery above 98–100 could bring nearby short liquidations into focus. A stronger reversal would require a break above the descending channel.
For now, leveraged positioning and technical weakness point towards elevated market sensitivity. The $85.12 concentration deserves attention alongside the larger $71 liquidation cluster. Whether buyers defend current levels or sellers gain further ground remains unresolved. Price behaviour and changing leverage will provide the next useful signals.
