The current price of Solana (SOL) is at $197.7, indicating significant pressure from short positions. This creates potential liquidation risks upon price increases.
General Situation on the Solana Market
According to CoinGlass, Solana is priced at $197.7, placing the token in a zone of cleared long positions and a growing stack of short positions above this level. Currently, the price rests in a narrow range with no significant long liquidation risks.
Dynamics of Long and Short Liquidations
The chart shows a red curve tracking cumulative long liquidations decreasing from $194.9 to $176. This indicates that traders who leveraged long positions have mostly been forced out. Meanwhile, the green curve representing short positions steadily rises above $198.8, signaling that sellers expect resistance above current prices.
Risks and Future Forecasts
Data from exchanges shows that most exposed positions are concentrated on Bybit, followed by Binance and OKX. These positions cluster between $198.8 and $201.5, and also from $212.3 to $215. Breaching these levels could lead to liquidations across multiple platforms simultaneously, increasing price fluctuations.
The current state of the Solana market suggests potential volatility associated with short position liquidations. Future price movements will depend on whether critical levels, where these imbalances become active, can be breached.
