Solana’s ‘2-week high’ – Can your memecoins save SOL’s price again?

📆 4/4/2024 4:16 AM
📰 CryptoAmb

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Solana [SOL] witnessed a surge in long liquidations on 2nd April, as the coin’s price fell below $180 during that day’s trading session.

witnessed a surge in long liquidations on 2nd April, as the coin’s price fell below $180 during that day’s trading session. According toLiquidations exist in a coin’s derivatives market when a trader’s position is forcefully closed due to insufficient funds to maintain the position.

Firstly, the coin’s futures open interest, which measures the total number of futures contracts that have yet to be settled or closed, has trended downward since 1st April. When an asset’s open interest falls in this manner, it suggests that market participants are exiting their trading positions without opening new ones.

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