Solana's price may surge as traders betting against it face losses, with a key level of resistance at $245.

Solana Price Surge

Solana’s price rebounded from $220 support, driven by short liquidations and shifts in liquidity orders. This momentum pushed the price towards $230, with a key supply wall forming near $235-$245. High trading volume, around $7 billion, suggests a potential breakout opportunity.

Analyzing Liquidity and Resistance

Heatmap data reveals concentrated liquidity clusters near $220 (support) and $235-$240 (resistance). Withdrawals of limit orders facilitated rapid price movement, with new liquidity appearing above the current price. The $245 level is now a critical point for sustained upward momentum.

Trading Considerations and Outlook

Traders should focus on observing volume and heatmap clusters for confirmation. A decisive close above $245 with strong volume would indicate a continued breakout; failure to do so could lead to a pullback toward $220. The current Solana breakout is a result of short liquidations and liquidity shifts.