Solana Faces Headwinds as Short Positions Mount After All-Time High

Quick Summary:

Solana (SOL) has encountered significant selling pressure following its recent ascent to an all-time high of $264.63 on November 24.

Currently trading at $232.72, the cryptocurrency has experienced a 12% retracement, prompting a notable shift in market sentiment and trading behavior.

This imbalance is reflected in the long/short ratio of 0.96, indicating that traders are increasingly positioning themselves for further downside movement.

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Article Details

Author / Journalist: Vignesh k

Category: Crypto

Markets: United Arab Emirates

Topics: Solana Investing News SOL Editors News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-27 @ 19:25:00 (23 hours ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 245 words

Reading Time: 2 minutes read

Sentences: 23 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 23912886

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About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 12 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 11 hours ago

Coverage Areas: United Arab Emirates

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #125

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