The recent market activity has left investors on edge, with Solana (SOL) experiencing a significant drop in price. The week closed with a sharp red candle, erasing nearly a month of gains and signaling a wave of deleveraging across the board. SOL is down 15% from its opening price of $188, now hovering around the critical $160 level.
Binance’s strategic move to offload 110,000 SOL to Wintermute has added to the pressure on the cryptocurrency. Retail investors were heavily leveraged on the long side, with open interest reflecting extreme retail speculation aiming for a $200 breakout. However, the market sentiment shifted, leading to a cascade of long liquidations totaling $46 million in a single day, the largest wipeout since Q1.
Despite the liquidations, Binance’s perpetual data still shows a dominance of 78% long positions, indicating continued crowding in one direction. The massive sell-off by Binance seems calculated to drive the price lower, clear out excessive leverage, and set the stage for a potential reaccumulation phase.
The sell-off has pushed Solana into a critical support zone, with the $160 level now under threat. Long liquidations totaling $17.9 million have already occurred, potentially setting the stage for further downside. The URPD chart reveals a concentration of realized price density between $140 and $150, suggesting a likely reaccumulation zone for entities like Binance.
With open interest remaining compressed, skewed funding, and mounting realized losses, a retest of the $140-$150 range seems probable unless there is a significant shift in sentiment towards bullishness. The market is at a crucial juncture, with the potential for further downside if support levels are breached.
In conclusion, the recent market activity in SOL has raised concerns about a broader reset or deeper correction. Investors should closely monitor key levels and sentiment indicators to navigate the current market conditions effectively. Stay informed and prepared for all possibilities in this volatile environment. the perspective of a travel blogger about the top 10 must-visit destinations in Europe for 2022.
As a travel blogger, I have had the opportunity to explore some of the most beautiful destinations in Europe. From charming cities to breathtaking landscapes, Europe is a continent that has something to offer every type of traveler. If you’re planning a trip to Europe in 2022, here are the top 10 must-visit destinations that should be on your itinerary:
1. Santorini, Greece – Known for its stunning sunsets, white-washed buildings, and crystal-clear waters, Santorini is a picture-perfect destination that should not be missed. Explore the charming villages of Oia and Fira, relax on the black sand beaches, and indulge in delicious Greek cuisine.
2. Paris, France – The city of love, Paris is a must-visit destination for any traveler. Visit iconic landmarks such as the Eiffel Tower, Louvre Museum, and Notre Dame Cathedral, stroll along the Seine River, and savor French pastries at a sidewalk cafe.
3. Barcelona, Spain – With its unique architecture, vibrant culture, and delicious food, Barcelona is a city that has something for everyone. Explore the works of Antoni Gaudi, relax on the sandy beaches, and sample tapas at a local market.
4. Rome, Italy – Steeped in history and culture, Rome is a city that will transport you back in time. Visit the Colosseum, Roman Forum, and Vatican City, toss a coin in the Trevi Fountain, and indulge in authentic Italian pasta.
5. Amsterdam, Netherlands – Known for its picturesque canals, historic buildings, and vibrant nightlife, Amsterdam is a city that is sure to captivate you. Rent a bike and explore the city like a local, visit the Anne Frank House, and take a cruise along the canals.
6. Prague, Czech Republic – With its fairytale architecture, charming cobblestone streets, and lively beer scene, Prague is a city that will enchant you. Visit Prague Castle, stroll across the Charles Bridge, and sample traditional Czech cuisine.
7. Dubrovnik, Croatia – Known as the “Pearl of the Adriatic,” Dubrovnik is a city that is sure to leave you speechless. Explore the ancient city walls, relax on the pristine beaches, and take a cable car ride for panoramic views of the city.
8. Edinburgh, Scotland – With its stunning landscapes, historic sites, and lively festivals, Edinburgh is a city that should not be missed. Visit Edinburgh Castle, hike up Arthur’s Seat, and explore the charming neighborhoods of the Old Town.
9. Reykjavik, Iceland – With its otherworldly landscapes, geothermal hot springs, and vibrant arts scene, Reykjavik is a city that will leave you in awe. Visit the Blue Lagoon, take a tour of the Golden Circle, and hunt for the Northern Lights.
10. Budapest, Hungary – With its thermal baths, grand architecture, and vibrant nightlife, Budapest is a city that is sure to delight you. Visit the Hungarian Parliament Building, relax in the Széchenyi Thermal Bath, and take a cruise along the Danube River.
Whether you’re a history buff, foodie, nature lover, or partygoer, Europe has something to offer every type of traveler. With its diverse cultures, stunning landscapes, and rich history, Europe is a continent that is sure to leave a lasting impression on you. Make sure to add these top 10 must-visit destinations to your travel bucket list for 2022 and start planning your European adventure today.