# SOL has fallen again, is this a liquidity issue or a real Bear Market?

Last night SOL fell through 180, and some people bought the dip with 300,000 U and directly got stuck with a 6% loss. I checked the liquidation data and found a clue—980 million U was liquidated across the network within 1 hour, of which 97% were long positions from retail investors. This is not a fundamental collapse; it is a leveraged sell-off.

**Key Data**:
- SOL fell from 188 to 180, with a drop of nearly 3%
- Long position liquidation ratio 97% (mostly chased last night at 185-188)
- The volume actually decreased by 30% when it fell to 180 —— this is considered a shrinking decline.

What traders fear most in this market is not a sharp fall, but the grinding market. There is neither panic selling that breaks through support nor bottom-fishing funds driving prices up, making it easy for retail investors to get trapped even deeper here.

**Two Key Levels**:
1. **178 is a lifeline support** —— In the past half month, SOL has fallen to 178 twice and rebounded, the first time rising to 192 (+14), and the second time rising to 188 (+10), indicating that there are many bottom-fishing funds defending this level. If 178 can hold, you can try to buy with a 10% position, setting a stop loss at 175, with a maximum loss of 3 dollars. If it rebounds to 185, sell half first.

2. **188 is a rebound barrier** —— Last night SOL attempted to break 188 three times but couldn't pass, indicating there are trapped positions here. If it rebounds to 188 without volume, it will likely fall instead. Don't ask, just reduce your position by 50% first.

**Don't step on the two pits**:
- Don't listen to the saying "when it falls a lot, it's time to buy". You need to assess whether the support is strong enough. If it couldn't hold 178, don't buy recklessly.
- Long-term (6 months+) can hold below 180, short-term (1-3 days) if it falls more than 5 points then cut.

**Additional Information**: SOL is strongly correlated with Nasdaq tech stocks. When US tech stocks rise, the probability of SOL rebounding is 70%. If it falls, SOL will still need to test 178.