A newly funded wallet caught the market’s attention after opening a 20x leveraged long position worth 230,583 SOLs worth $18.81 million.
The position quickly gained more than $818,000 in unrealized profits in one day, underscoring how quickly SOL was rewarding its aggressive bullish bias.
Data from Lookonchain It also showed that The liquidation price of the whale stood at $67.14, leaving a sizeable buffer below current trading levels.
But the trade also reflected growing confidence among leveraged participants rather than confirming SOL’s next market direction. Large positions often influence sentiment, but they rarely guarantee sustainable gains.
Why did the best investors stay for so long?
Binance data showed that 64.71% of top trader accounts held long positions, while only 35.29% held open positions.
This distribution made it easier Long/Short Ratio It rose to 1.83, confirming that professional traders are maintaining a clear uptrend.
The positioning is also in line with the newly opened whale trade, reinforcing expectations that higher prices could follow if buyers retain control.
However, intense bullish sentiment has also increased downside vulnerability as leveraged positions share similar liquidation levels.
A modest decline could accelerate selling pressure by forcing highly leveraged long positions to automatically close.
Despite this, data shows that experienced traders continue to prefer upside risks despite recent market uncertainty.
Solana regains resistance as buyers regain control
Solana (Sun) It recovered above the previous resistance at $78.50 and traded near $81.30; This confirmed that buyers regained control after defending the $67.39 support zone.
The price also approached the next resistance near $88.10, placing the recovery within a broader rally rather than a completed breakout.
Meanwhile, the 14-day RSI climbed to 64.41 and remains comfortably above the 50.60 signal average.
This recovery indicates that buying pressure is strengthening before reaching the overbought zone above the 70 level.
The recent rally has strengthened the recovery structure by setting off a series of higher lows following the sharp decline in June.
But SOL still needed to reclaim $88.10 before paving the way for major resistance near $100.87, where sellers have repeatedly regained control in previous rallies.
Could the $80 liquidity zone cause chaos?
The Liquidation Heat Map identified the largest concentration of leveraged liquidity around $80. This places the largest liquidation pocket at less than 2% below SOL’s market price.
Positioning has created a fragile structure because any definitive break below support could quickly increase selling pressure.
If the bears force a 5% decline over the weekend, SOL will likely drop to $77.20 and sweep the $80 liquidity cluster before reaching pockets of additional liquidity below.
Such a move could trigger successive long liquidations as leveraged positions are automatically closed and new sell orders are added to the market.
Since 64.71% of Binance’s top trader accounts already have long positions, the crowded uptrend has made it more likely that losing $80 will increase volatility rather than produce a regular correction.
Can SOL defend $80 and continue rising?
Since SOL had already reclaimed $80 and continued to attract aggressive leveraged positioning, it looked more likely to prolong the recovery rather than be rejected immediately.
However, this bullish structure was contingent on maintaining the $80 support.
Since the largest liquidation cluster is located directly below the current price, a break below this level could quickly trigger a succession of long liquidations.
Unless the bears force SOL below $80, a path to $88.10 will remain the more likely outcome in the near term.
Final Summary
- As SOL retraced $80, whale activity and trader positioning continued to support further upside.
- Heavy long positioning leaves Solana’s $80 support critical to prevent gradual liquidation pressure.
