Solana’s price fell to 168.88 USD, marking a two-month low, which resulted in significant long position liquidations worth 21 million USD within the last 24 hours. This decline reflects a broader bearish sentiment prevailing in the cryptocurrency market.
In the futures market, open interest dropped by 3.47% as traders close positions amid increasing bearish pressure. Solana needs to surpass the critical resistance level at 188.96 USD to reverse its current downtrend; otherwise, it risks falling towards 170.41 USD.
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