SOL Faces Selling Pressure as Long Liquidations Build

SOL trades below its nine-day EMA as a descending channel keeps sellers in control and puts the $100 support level at risk. Large positions remain 87% long, while roughly $53 million in potential long liquidations sit below spot across the displayed price range. RSI at 36.36 reflects weak momentum, while a recovery above $105 could challenge the descending channel and improve market structure. SOL technical analysis indicates that the bull market is coming under pressure near the support, which is the time when leveraged bull market positions are at risk.

Source: CryptoNewsLand