Solana (SOL) has seen immense growth recently, with its price breaking $50 for the first time in 1.5 years. This milestone comes alongside over $17 million worth of short positions being liquidated, signaling a surge of bullish momentum.
SOL’s price is expected to consolidate around the $50 level in the short-term after reaching a recent high of $52. If buyers can push through resistance at $59, experts anticipate SOL targeting $68-80 next. However, failure to hold above $40 could result in a drop back to test support around $30. Despite some pullbacks, repeated breakout attempts underscore bulls’ growing optimism.
Keypoints
- Solana (SOL) price recently surpassed $50 for the first time in 1.5 years, with over $17 million in short liquidations. This signals growing bullish momentum.
- The exit of short-term SOL buyers during the price surge is a bullish sign, as it reduces the risk of a sudden sell-off. This could…
