Solana Whale Long Tests Market Nerves Above $80

Solana (SOL) is back above $80 after a significant price swing. The cryptocurrency reclaimed this level despite some concerns over crowded trader positioning and leveraged longs.

A recent trade saw a newly funded wallet open a massive 20x leveraged long position worth $18.81 million, valued at 230,583 SOL. This move has put pressure on the market to support the price above $80.

The largest liquidation cluster is also located near this level, making it critical for short-term volatility. If a decisive break occurs under $80, Solana could drop towards $77.20, increasing the risk of cascading long liquidations.