The recent price volatility of Solana (SOL) has significantly affected traders, especially those betting on its decline. This article examines the losses suffered by traders, price changes, and the prospects for SOL.
Losses Among Short Traders
Data from the CoinGlass liquidation heat map reveals that within the last 60 minutes, short traders suffered losses of $145,400 due to price volatility, as SOL soared above their projections, resulting in a liquidation imbalance of 112,382%.
Solana's Price and Dynamics
As of press time, the SOL price was changing hands at $150.20, representing a 0.71% decline over the last 24 hours after peaking at $154.42. Despite the pullback, Solana has had the best performance among the top 10 crypto assets, rallying by 12% over the past week.
Prospects for Solana
Trading volume remains in the green, up 17.95% to $2.86 billion, indicating active participation from Solana holders. The technical chart suggests that as long as SOL stays between $148 and $150, it has strong potential for a bullish rally, aiming to flip the $160 resistance level.
The volatility of Solana continues to impact its traders; however, active trading and price stability create potential for future rallies. The possibility of further price growth will depend on how holders react to ongoing fluctuations.
