Looking at the max pain prices in terms of liquidation levels on the monthly chart, a few things stand out. BTC's "max pain" prices are located at ~115K & ~106K which correspond with the local price range. This makes sense as those liquidity levels are untapped for some time now as price ranges. SOL's max pain price for shorts lies much higher than the one for longs. This has to do with the recent larger decline with most of the big shorts likely still sitting comfortable from much higher. It's good to keep in mind with this data that these are complete estimations. If 1 person opens & the samen position 10 times, it's liquidation cumulative value will also show as 10 times. That's why you should never trust these posts saying: "We will liquidate X billion of shorts if price reaches X level!". These values are always extremely exaggerated. It's all just estimations and these liquidation charts don't know which positions have closed already. So it just adds all of them up. The levels itself can still be of some value as it corresponds roughly with untapped highs/lows and does look at when a lot of volume has come in.(Daan Crypto Trades)