2026-01-14 22:37:05

Solana just broke through a key resistance level while the broader crypto market witnessed massive liquidations. Short position holders got wiped out to the tune of $689 million, signaling a potential shift in market sentiment. The move caught many traders off-guard, especially those betting on further downside. This kind of sharp liquidation cascade often comes when price action pierces through critical technical levels, forcing algorithmic positions to unwind rapidly. Market observers are watching closely to see if Solana can sustain above this breakout zone or if we'll see a retest of the level.

SOL-0.89%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

14 Likes

Reward
14
10
Repost
Share

Comment

0/400

ImpermanentPhobia

· 01-17 11:09

689 million liquidation? My friends who are shorting probably will be crying in the bathroom today. --- SOL's recent breakdown was quite fierce, but being able to hold is the real skill. --- It's the same situation again: the bears get wiped out, and the bulls don't dare to chase together, it's really awkward. --- Forced liquidation of algorithmic orders is truly a nightmare; I should have set stop-losses earlier. --- Breaking the level is just breaking the level; the key is whether the next retest will drop back again. It's exhausting. --- That's why I never heavily short... I'm always awakened by these reverse moves. --- 689 million... Oh my, someone probably went bankrupt today. --- If Solana can't hold, we'll be playing the retracement game again, which is no fun at all. --- A violent surge at liquidation levels is indeed sudden and unpredictable; who the heck can forecast that? --- The optimists are celebrating, the shorts are bottom-fishing—just the old routine.

View OriginalReply0

MiningDisasterSurvivor

· 01-17 06:08

It's the same old broken technical analysis rhetoric again. The 68.9 billion liquidation sounds intimidating, but I experienced the 2018 mining disaster—now that was true despair. How long this crack can hold remains to be seen; the project team is never short of storytelling skills.

View OriginalReply0

MissedTheBoat

· 01-15 16:57

6.89 billion liquidations? Another batch of shorts wiped out, haha, I'm laughing my head off --- SOL's recent breakout looks real, just afraid of a pullback and another round --- That's why I hate chasing shorts, always get trapped --- Break the key level and run, I don't believe in technical analysis --- The algorithmic longs are probably panic selling now, so satisfying --- Can it hold this position... I can't bet on it --- It's the same group of people missing out on the market, typical --- 6.89 billion liquidations, now that's the voice of the market

View OriginalReply0

GateUser-9ad11037

· 01-14 23:07

6.9 billion short positions exploded, this is the consequence of shorting haha

View OriginalReply0

ChainMemeDealer

· 01-14 23:06

68.9 billion liquidation, shorts are directly wiped out. This market move really caught everyone off guard. --- This time, the breakdown of SOL feels different; finally, we can breathe a sigh of relief. --- Once again, people caught in the trap are crying, and those shorting are calling the market. It's so exciting. --- At the moment of the breakdown, how many short positions are flashing away? So satisfying. --- Waiting to see if SOL can hold its ground. It feels like there will be repeated tests. --- 68.9 million liquidation. This is when technical analysis speaks.

View OriginalReply0

MetaMisery

· 01-14 23:04

689 million liquidation? The shorts are really going to cry now, SOL can't hold this wave anymore --- SOL breaking through resistance levels is so fierce, the algorithmic orders are probably torn apart --- It's the same old story, a breakdown must lead to liquidation, it's a miracle if it can hold steady --- Short-term aggressive liquidation? Feels like I need to reconsider the strategy --- No way, is someone still shorting SOL to death... --- This time, can it hold or will it retest? Let's see the volume later --- 689 million, now that's a real kill and psychological blow, the shorts are completely out of the game --- Breaking down is accompanied by liquidation, the market is that straightforward --- Feels like a new round of chasing highs is starting again, can't hold on anymore

View OriginalReply0

MEVSandwichMaker

· 01-14 23:01

689m liquidation, shorts are directly wiped out. This rhythm is incredible. Solana's recent breakdown is really strong; how crazy must the automatic liquidation of algorithmic orders be? Let the rebound happen if it will, but the question is, can it hold steady? I think it might retest lower. Another wave of people who bought the dip are thrilled, while those shorting are crying their eyes out. I hate this kind of market the most; it's too easy to get swept out. Is breaking support really that simple?

View OriginalReply0

MEVHunter

· 01-14 22:59

689 million short positions liquidated, the move to break the level was indeed fierce. I totally understand the feeling of algorithmic orders being torn apart, just imagine how outrageous that gas war in the mempool must have been.

View OriginalReply0

GweiTooHigh

· 01-14 22:41

689 billion USD liquidation, shorts are directly wiped out. This wave of SOL is really fierce. Can SOL hold steady this time, or will it test again? Feels risky. Sigh... It's that kind of algorithmic liquidation chain reaction again, bloodbath every time. If it breaks the level, it crashes outright. Shorts don't react in time and are gone. Too ruthless. Contract killers are still the same, just waiting for you to place your bets.

View OriginalReply0