Solana: New Wallet Opens 20x Long on 500K SOL

A newly created wallet deposited 8.43M USDC and opened a 20x long on 500K SOL worth $22.78M via TWAP at average entry $76.29, underscoring Solana futures 20x leverage risks and liquidations plus TWAP execution large SOL positions impact. SOL now trades at $77.15 inside the Bollinger band with price testing upper resistance at $78.33 while RSI(14) sits at 71.3 overbought and MACD shows bullish golden cross; the structure holds above EMA50 support at $74.68, pointing to a probable healthy retracement to that level before any further upside continuation.