Long

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Solana breach the 4 hours resistance but will it breakout soon?

The current price for Solana is USDT41.52 nearing the 1 day resistance of USDT42.25. Traders need to wait for 2 to 3 weeks time to see the price action will or will not have a 7% above green closing candle stick break out.

If there is a breakout the price will definitely go higher for more than 100% or above USDT84.50. Based on the next nearest resistance is USDT143.31 for the 1 week charts resistance. Once 7% break out it is all clear the price will reach USDT143.31.

If the strong tail wind of Grayscale Bitcoin ETF will be approved soon and the continue war between Israel and Hamas tension continue, then there will be no further issue the price will go higher. This will only happen when there are no new strong headwind coming into play in cryptocurrency in the coming 6 months time

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Current Solana price is about USDT55.58 has successfully breakout from USDT42.25 1 day resistance level. The current price action will be volatile. Now is all clear from here to USDT143.31 of 1 month very strong resistance level.

Trader should keep the Solana tokens from now until USDT143.31 before reassess 2 to 3 weeks before proceeding to continue holding the token of sell.

However, there maybe some risk to keep now until USDT143.31 level because Bitcoin has not reach the breakout level at the 1 day resistance line at USDT39K.

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Solana price today is going crazy after breakout of 25.13% yesterday. The price now is USDT61.95, the high for the day is USDT63.95.

The price yesterday USDT56.67 close, will rise at least more than 70% if there is not strong headwind appears.

Trader's should keep the coins and let it ride to USDT143.31.

Risk: Appearance of any strong headwind then need to sell before reach USDT143.31.

Volatility: will be high or very high.

Trend: uptrend high volatility.

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Forget to write this, most likely parabolic uptrend.

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Solana will reach USDT143.31 within 6 months or 1 year time. Did not posted that in the previous post.

Wild up and down but if you are investing just keep the token until USDT143.31 before reassessing the position.

Still will be volatile correction downtrend coming after every high it make.

Note

It is currently USDT75.55 raising slowly and inches closer to the target USDT143.31.

Trader should keep the token until there is an appearance of a strong headwind. If no strong headwind in the coming months just keep the tokens until USDT143.31.

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SOLUSDT currently at USDT101.50, getting nearer to USDT143.31 target.

Trader should hold the tokens for now until 17 January 2023.

Trader should keep the token until there is an appearance of a strong headwind. If no strong headwind in the coming months just keep the tokens until USDT143.31

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SOLUSDT yesterday closing at USDT120.91 but having a huge correction today as said earlier on the volatility in this high Beta tokens.

Current price USDT110.69 after huge sell off.

Traders are advised to continue to hold the token. The sell off is mainly due to overbought of BTC and SOLUSDT itself.

BTC has a support at around USDT41700.00 which is USDT600 away at the 4 hours support level. Solana will continue to drop until around USDT101.50 at the 30 mins support level.

Hold the Solana token until it reaches USDT143.31 if no strong headwind appear in the coming weeks.

Note

If the SEC approved Bitcoin and Ether spot ETF, the next in line will be Solana since it is rank 4th largest market cap token currently. Most likely next year 2024 we will see a Solana approved spot ETF.

This will most likely cause Solana to breach or breakout the USDT143.31 1 week and 1 month resistance level. Heading to all time high at USDT259.00

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USDT41,637.60 for bitcoin yesterday low for low price.

It is 99.85% accurate projection for yesterday Bitcoin correction.

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Dear Traders,

There is a potential formation of a strong headwind for cryptocurrency this new year and could potentially not cause cryptocurrency of bitcoin to rally to USDT62K or Solana to USDT143.31.

The news of 15 USA companies such a Nike and large S&P 500 companies miss their top line revenue and forecast a poor growth in Q1 2024. There is a potential more of such companies in S&P 500 will miss their top line revenue in 2023 Q4 reporting and forecast weakness in the global market in China, Europe and UK. Due to the recession happening in Europe and UK very likely going into recession also and also weak GDP growth in China 5% or less only.

For S&P 500 revenue companies that rely heavily on China or Europe or UK this could be bad for them. This will cause an S&P 500 to have a sell off. Since USA cryptocurrency trader made up 35% of the global market. Europe might not have large buying during this period because of recession, China does not trade crypto and will be leaving other Asia country to rally the market for Q1 2024.

Only thing to get back to all time high is to pray for global speculation uptrend for Bitcoin during the spot ETF launch and the halving in April 2024.

I decided to take profit a few days ago and leave only USDT1K in cryptocurrency due to the unconfirm formation of a strong headwind in the cryptocurrency market.

I am uncertain about the market direction now.

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Crypto SOLUSDT trade direction has become clear since the potential strong headwind of many S&P 500 companies reporting negative revenue due to lower growth of recession in UK, Europe and China is most likely not happening for the the earning reporting.

Currently there is no strong headwind for S&P 500 and the crypto market. There is a strong tailwind happening for cryptocurrency market like the halving of bitcoin coin in April 2024. This is an anticipation rally.

Trader should buy now are at the dip and hold the token until USDT 143.00 before deciding to buy or sell. It is a clear path to USDT 143.00 with any resistance from Technical Analysis charts from here.

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If the US Fed's FOMC remain cutting 2-to-3-time rate and the GDP remain strong for the entire 2024 SOLUSDT price currently at 134.46 can go higher and breach the strong resistance at USDT143.00 and possible back to previous record high.

SOLUSDT currently remains a buy for traders since the core PCE for January 2024 drop from 2.9% to 2.8% which is good news even the CPI and PPI numbers are bad and hotter.

There is a potential that SOLUSDT will reach the all-time high in the coming months when there is no strong headwind appears in the cryptocurrency market and US equity market. All time high is at USDT249.68. Reaching this price level again currently is still possible.

BUY! BUY! BUY! Solana SOLUSDT.

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Today 7 March 2024 the price of Solana USDT147.03 breach the resistance level of USDT143.31 and will go higher to record high to USDT249.68 when in these coming 6 months there is no strong headwind appears in the US equity market or Cryptocurrency market.

If the FED FOMC meeting on 20 March 2023 say that the cut of 2 to 3 time on Fed's funds rate remain in play. Then this will drive cryptocurrency price higher and SOL USDT higher also.

The new next level resistance for 1 week and 1 month is around USDT169 to USDT179. The current price action will most likely breach this price and go higher. Again if there is no appearance of any Strong headwind in the market.

Trader should keep the coin or if trader want to buy at current level also can. Keep the tokens until 20 March 2024 for FOMC news. If good news keep the token further.

My analysis is right that the price of Solana on to reach USDT143.31 projected on November 11, 2024.

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Solana USDT posted a high at USDT210.18 on 18 March 2024. My call that the price action to breach the 1 week and 1 month resistance at USDT 169.00 to USDT 179.00 was right call. The FOMC and core PCE on March 20 and March 29, 2024 was good new causing the SOLUSDT price to increase to above USDT200 or slightly less.

Today price is USDT196.27 on March 31, 2024. The March 2024 CPI, PPI, Jobs report and 1st Q GDP and Fed FOMC data will be crucial for the price action to reach all time high at USDT249.68.

If trader can brace for a correction on some of the CPI and PPI data is hot. Then continue to hold further to wait for the BITCOIN halving effect that is coming. There may or may not be a bull run in cryptocurrency. It is still uncertain but best to hold the position until potential a strong headwind appears in the cryptocurrency market of US equity market.

HOLD now but there is some risk. If trader can take 25% correction in few days then keep the coin and wait until USD249.68 price.

Happy trading and investing.

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Current SOLUSDT price is at USDT150.95 a major drop from slightly USDT200 on 31 March 2024. Has there been already 25% drop from the high we had seen in March 2024.

Where is the price action heading next? Up or down.

There is a strong tailwind in the cryptocurrency market of effect from spot Bitcoin ETF and the halving in April 2024. However, there is a potential strong headwind playing out in the US S&P 500 equity market. The rate cuts from the Fed's predicted on May or June 2024 has been differed to September 2024 due to hotter than expected CPI and PPI numbers, both core and no core.

Market will most likely be a downtrend or sideways from 13 April 2024 to 29 April 2024 to price in the deferral of the Fed's rate cut to September 2024. 29 April 2024 is the PCE number for USA. If FOMC good news which is not the case on May 01, 2024 since there will be both good and bad news projected.

If good news on FOMC then combine with Bitcoin halving SOL price will reach the all time high at USDT249.68 or even higher. If this play out without any bad and sticky CPI and PPI numbers. Need to wait and see next 3 months CPI and PPI numbers.

The sideline money of USDT6.1T will only most likely invest in the market when the CME Group Fed's rate cuts charts probability confirm 90% above when the CPI data release on September 2024 and also confirm by the Fed's FOMC outcome in September 2024. This might not be the reason for the sideline money to come in when worse and hotter CPI and PPI numbers comes in on Q2 2024. Causing no rate cuts in 2024. This will cause the S&P 500 to go into a major correction.

USA equity will most likely be down trend and sideways due to the mixture of possible good and bad news due to the sticky inflation reads.

Note

Solana USDT will be downtrend or sideways from today 13 April 2024 to 29 April 2024. 80% outcome is downtrend or sideways.

20% upside chance to reach previous high of USDT249.68.

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The April 13, 2024 projection is correct and accurate that the Solana price will go downtrend or sideways. It was USDT138.47 on April 13, 2024 and today as of May 01, 2024 the price is USDT121.05 currently.

Currently waiting for the Feds FOMC tonight to see if the bad news continue in the USA. If yes, then it will go downtrend further. May 2024 CPI, PPI, PCE and ECI will play a big role in the market price action.

Not buying until 1 month before the Fed announce rate cut in 2024 with supporting reading from the CME Group Fedwatch tool that suggest rate cut on that particular month.

The Feds watch tool from the CME group is currently showing Dec 2024 or 1 rate cut in 2024 only. I hope that the data point for Q2 will be better so the entire year will have 2 rate cuts again.

Solana price will continue to be down trend if the Feds is hawkish tonight and the Q2 2024 CPI, PPI, PCE and ECI is a hotter number.

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The Fed;s FOMC was not hawkish and good news to the market and the CPI and PPI did not look so bad as the CME Fed's watch tools keep fluctuation between 2 cuts and 1 cut.

The May 1, 2024 price was USDT121.05. Today the price on 11 June 2024 is USDT154.30 uptrend as suggested previously if good news.

If the CPI number tomorrow is good and also good news on the Fed's FOMC then the token will continue to rise further.

The next level of resistance for this year is still the all-time high at USDT259.90. If there is 2 rate cuts this year in September 2024 and December 2024. Breaching the all time high at USDT259.90 is not a problem.

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The current price for Solana is USDT191.78 as of July 29, 2024 up from the previous USDT154.30 previously due to the anticipation rally of Solana spot ETF in the USA.

This thing will go higher when Fed's FOMC 31 July 2024 announced 2 rate cuts this year.

Buy the dip for Solana.

Note

December 27, 2024 posted and mention about a possible Solana ETF. Hence VanErk has proposed one to the SEC 1 month ago.

The Solana price is going to skyrocket to all time high USDT259.90 soon on the anticipation rally of a spot ETF.

If the USA macro picture is good then S&P 500 after a correction and the Fed's FOMC is good news. Then the Bitcoin Halving rally will start. It seem like have started few days ago.

Buy the dip in Solana.

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S&P 500 is still in a correction, the dip for Solana is not there yet. Most likely will go lower from USDT 149.96.

TioJunYong8623

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