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.

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13m ago•