Solana (SOL) Price Forecast: Key Targets Following $9M Liquidations Surge

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Solana's recent price drop to $145 has triggered a wave of liquidations in the cryptocurrency market. Despite the liquidations, high liquidity at $150 could potentially drive the price up. AMBCrypto reports that Solana [SOL] positions worth $9.14 million have been liquidated in the last 24 hours.

Amidst a wave of liquidations in the cryptocurrency market, Solana [SOL] has seen positions worth $9.14 million liquidated in the last 24 hours. Despite this, the high liquidity at $150 could potentially drive the price up.

Liquidations Triggered by Price Drop

Liquidation occurs when a trader's balance is insufficient to keep a trade open, leading to a partial or total loss of the initial margin. This can be due to high leverage, extreme volatility, or a failed bet. In the case of Solana, the liquidations were triggered by a price drop to $145. Despite this, the high liquidity at $150 could potentially drive the price up.

Open Interest Indicates Continued Trading Activity

Despite the liquidations, traders have not been deterred from the market. This is evidenced by the Open Interest (OI), which rose to $1.45 billion. An inc... Read the full article for FREE at COINOTAG!