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Cryptocurrency analytics firm Alphractal has expressed concerns about Solana ($SOL) in its latest market assessment, citing significant liquidation risks due to excessive leverage.
According to Alphractal, Solana’s price is currently facing an unstable situation with liquidations clustered at critical levels:
- Short-term outlook: If the price of $SOL reaches the $247 to $252 range, the bears are likely to face liquidations, creating potential upside pressure.
- Long-term outlook: The situation becomes more concerning as significant numbers of long positions are not being liquidated at lower price points, particularly around $210 and below $200. These levels present the highest concentration of liquidation risk among major exchanges.
Additionally, Alphractal highlighted a shprt position pool around $267, noting that if this is exceeded, it could impact volatility.
The firm said Solana is “less suitable for medium-term exposure” due to the combination of risks, and caution is advised for medium-term investors.
*This is not investment advice.