💥 SOL BOUNCES, BUT THE CONTEXT STILL HASN'T CHANGED
The last few hours showed an interesting recovery in SOL.
But a strong candlestick doesn't necessarily mean a trend reversal.
📊 Contextually, the market continues to show signs of weakness:
• Open interest has stopped declining, but it still doesn't show an aggressive capital inflow.
• Funding remains mixed and slightly negative across several exchanges.
• Positioning continues to be slightly tilted towards the shorts.
• Liquidations are still mainly concentrated on the buying side.
📉 Structurally, SOL remains far from the main trading zones and below key value levels.
As long as it doesn't reclaim those areas, any bounce remains vulnerable to new sell-offs.
🎯 The liquidation maps show that the most attractive liquidity continues to be located below the current price.
So it wouldn't be surprising to see attempts to reach the 59-60 USD zone before discussing a more solid recovery.
For now, the bounce exists.
But as long as the market keeps seeking liquidity below, talking about recovery might be premature.
The last few hours showed an interesting recovery in SOL.
But a strong candlestick doesn't necessarily mean a trend reversal.
📊 Contextually, the market continues to show signs of weakness:
• Open interest has stopped declining, but it still doesn't show an aggressive capital inflow.
• Funding remains mixed and slightly negative across several exchanges.
• Positioning continues to be slightly tilted towards the shorts.
• Liquidations are still mainly concentrated on the buying side.
📉 Structurally, SOL remains far from the main trading zones and below key value levels.
As long as it doesn't reclaim those areas, any bounce remains vulnerable to new sell-offs.
🎯 The liquidation maps show that the most attractive liquidity continues to be located below the current price.
So it wouldn't be surprising to see attempts to reach the 59-60 USD zone before discussing a more solid recovery.
For now, the bounce exists.
But as long as the market keeps seeking liquidity below, talking about recovery might be premature.