Solana (SOL) price rebounded by 3% on Wednesday, halting a three-day losing streak, as markets reacted positively to the US Federal Reserve's rate pause decision. The recovery comes after SOL suffered three consecutive losing sessions amid macroeconomic uncertainty. Traders are showing strong bullish sentiment, with long leverage positions surpassing short contracts by more than 50%. Technical indicators suggest further upside potential for SOL.
Solana price rebounded by a mild 3% on Wednesday, halting a three-day losing streak. Aggregate long leverage SOL futures positions hit $212 million at press time, surpassing the active short contracts by more than 50%. Technical indicators show that SOL is still within oversold territories, signaling further upside potential. Solana price rebounded by a mild 3% on Wednesday, halting a 3-day losing streak, as markets reacted positively to the latest US Fed rate pause decision.
The liquidation map tracks clusters of leveraged positions across different price levels, which often dictate price movements as market makers hunt for liquidity to trigger liquidations. Solana Liquidation Map, January 2025 | Source: Coinglass According to the Coinglass data, long positions on Solana surged past $212 million on Wednesday, significantly outpacing short contracts, which stood at just $106 million.
SOLANA CRYPTO FED RATE PAUSE BULLISH SENTIMENT
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