🚨 Solana Just Triggered a MASSIVE Liquidation Cascade! 📉
$SOL bulls are reeling after a brutal 12-hour period. Over $4.94 million in long positions wiped out – an 8,392% liquidation imbalance! Despite briefly flirting with a potential breakout and showing mildly oversold signals (RSI 37-39), the price plummeted to $120.78.The downturn mirrors broader market risk aversion following ETF outflows in $BTC and $ETH, dragging down other altcoins like Cardano and XRP. Trading volume has also taken a hit, falling nearly 15% to $2.74 billion.
However, amidst the chaos, positive network developments are emerging: new Solana ETFs, the launch of FireDancer, and Coinbase integrating SOL-based tokens. Even talks of a cross-chain bridge with Cardano signal a potential shift in the landscape. Currently trading at $121.43, a sustained recovery hinges on $BTC stability. 🚀
#Solana #CryptoLiquidation #Altcoin #MarketAnalysis 🐻
