Solana SOL0.11%-> is one of the large and liquid crypto assets that corrects sharply when the crypto market goes down. This makes it a frequent short target, especially in times of panic selling or when leverage is used massively.
During the period from November 5 to December 10, the Solana market exhibited a fairly active liquidation pattern, with the liquidation of Long positions dominating nominally. However, the pressure on Short positions remained consistent and relevant – especially when SOL prices experienced unexpected spikes.
The peak of liquidations occurred around November 21, where the volume of Long liquidations jumped sharply to close to $74 million, followed by significant pressure on Short positions. This reflects the highly volatile market conditions, where rapid and unexpected price movements triggered liquidations on both sides.
However, throughout the chart we see that Short liquidations consistently appear almost every day, albeit on a smaller scale than Longs. This indicates that most traders are still trying to challenge Solana’s uptrend by going Short – and paying a heavy price as the SOL price stays above $100 for most of the period.
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