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In recent days, Solana’s price experienced a sharp recovery, reaching $152. This surge indicates a robust uptrend, with short positions being liquidated as the price continued to rise. The heatmap data highlights significant liquidation activity, suggesting that many traders were betting against Solana at this level. As the price climbed, these positions were forced to close, pushing the price higher. This has fueled speculation of a potential breakout if the uptrend persists.
Currently, Solana is nearing a resistance level at $153, where concentrated liquidation activity suggests strong market reactions. This level may serve as a short-term barrier, as traders with leveraged positions could face further liquidations. A break above $153 would likely lead to additional price increases, but failure to maintain this level might result in a pullback or consolidation. The market remains closely attuned to how Solana performs at this critical price point.