Solana (SOL) reclaimed $80 as a $18.81 million whale long and crowded trader positioning put support under fresh pressure.
Key Points:
- Solana traded near $81.30 after moving back above the former $78.50 resistance.
- A newly funded wallet opened a 20x leveraged long worth 230,583 SOL, valued at $18.81 million.
- The largest liquidation cluster sits near $80, making that level critical for short-term volatility.
Solana Whale Long
Solana drew fresh attention after Lookonchain data showed a newly funded wallet opening a 20x leveraged long position of 230,583 SOL, valued at $18.81 million. The trade quickly moved into more than $818,000 in unrealized profit.
Lookonchain also placed the liquidation price at $67.14, giving the position a wide buffer below current levels, although the trade still showed confidence rather than a confirmed market direction.
Large whale positions can shape sentiment.
Binance data showed that 64.71% of top trader accounts held long positions, while 35.29% were short, lifting the Long/Short Ratio to 1.83. The same imbalance supported the bullish case, but it also raised the risk of forced selling if leveraged traders were squeezed near similar levels.
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SOL Price Risk
Solana traded near $81.30 after reclaiming the former $78.50 resistance, while buyers continued to defend the $67.39 support zone. The next resistance stood near $88.10.
A move through $88.10 would put the larger $100.87 resistance back in view, where sellers had regained control during earlier rallies.
The 14-day RSI rose to 64.41, above its 50.60 signal average but below the 70 level often linked to overbought conditions.
CoinGlass data placed the largest leveraged liquidity pocket around $80, less than 2% below the market price. A decisive break under that level could sweep the cluster and push SOL toward $77.20, increasing the risk of cascading long liquidations.
The setup leaves $80 as Solana’s near-term line.
SOL can still aim for $88.10 if buyers hold that zone, but a loss of support could turn crowded bullish positioning into forced selling.
Solana’s latest rebound followed a sharp Jun. decline that left traders watching whether higher lows could hold. That recent price swing explains why $80 matters now, because it separates a recovery structure from another failed rally.
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Source: Original Article
