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Solana

Is Solana Gearing Up for Another Rally?Since early October 2023, Solana has experienced an impressive 1,000% growth, reaching its peak on March 18, 2024. Following this significant rally, the price entered a corrective rectangle pattern, retracing 50% of the previous wave and preparing for the next upward move. After breaking out of the corrective pattern and achieving notable growth, Solana has now formed a zigzag corrective pattern. The price retraced from the 38.2% Fibonacci level, which aligns with the March 18, 2024 peak. Additionally, the price has shown a positive reaction to the midline of the ascending channel. Given this structure, it is expected that Solana will continue its upward trend and touch the upper boundary of the ascending channel. If you found this (SOL) analysis helpful, let us know by hitting the like button! 💙 Where do you think Solana is headed next? 🚀 Drop your predictions and insights in the comments section below! 👇
Long
by Market-Analyzer
Solana potentially breaking upward from bullishpennant on daily If it can breakout of the pennant already from this spot then it’s price target will be around $343 wouldn’t surprise e if it finds a way back inside the pennant to consolidate a little ore first but I’d be ore than happy with it breaking up fr the pennant already. Odds are good if it doesn’t break upward fro the pennant here that the orange 50ma will eventually force it up out of the pennant when it rises up to enter the pennant in the next few days. *not financial advice*
COINBASE:SOLUSD
by DrDovetail
TRON is the leading large altcoin this cycle!!TRX was especially strong this bear market. It was able to steady itself from falling too far. Similar more to Bitcoin then other alts like Solana. TRX fell around 74% in the bear market like BTC. SOL fell more like 94%. TRX now 150% above old highs and SOL below old highs. This is not to take anything away from SOL but comparing TRX to the other strongest alt this cycle. I suspect SOL might end up following TRX in a TRX like breakout from its old 2021 highs. TRX has been able to capture a key part of the crypto market in being a chain for stablecoin transfers and is trying to expand into more typical defi areas.
by SoftQuant
EW-Analysis // Solana (SOL) 12/03/24Hi everyone, today we'll have a brief lool at Solana... Please note the DISCLAIMER at the end of this idea! A brief overview of Solana: Solana is a blockchain platform launched in 2020, known for its high scalability and low transaction costs. Developed by Anatoly Yakovenko, Solana aims to enable fast and efficient decentralized applications (dApps). Using innovative technologies like Proof of History (PoH), Solana can process thousands of transactions per second, offering a powerful alternative to established networks like Ethereum. ~chatgpt Now, let's move on to the analysis... The broader structure of Solana looks bullish, as it’s highly likely that COINBASE:SOLUSD has already completed Wave 2 and is now in Wave 1 of the following Wave 3. Looking at the current situation, it appears that Wave 3 of 1 has initially concluded, meaning we should currently be in Wave 4. This wave could extend up to $198.05, with the subsequent target around $315. After reaching this level, a somewhat stronger correction is expected. I hope you found my idea helpful and understandable. If so, feel free to drop a rocket! 🚀 Wishing you a successful trading week and hope you are doing well. Best regards, Rafi DISCLAIMER: The information provided above is an idea and does not constitute investment advice or trading recommendations! No guarantee or liability assumed!
COINBASE:SOLUSDLong
by Rara-es
1
XRP's monthly gains overcome all Solana's market capThe XRP price has added an impressive $128 billion to its market cap, surpassing the entire market cap of Solana price in just 30 days. This significant surge has been a major factor in shifting investor attention and capital from Solana to XRP.   Still, is it over for Solana? The rally has sparked bullish expectations, with analysts forecasting a potential price surge to $400 and $600 in the coming months. This continued rise could position Solana as one of the top-performing assets in the crypto market, further solidifying its place among major blockchain projects.  Despite the short-term bearish sentiment, , the Solana's price remains within a crucial range that traders closely monitor. The Relative Strength Index (RSI) for Solana price has recently dipped below the neutral 50 mark, suggesting a weakening in buying momentum. The moving average convergence divergence (MACD) indicator has decreased bullish momentum, reinforcing the expectation of potential price consolidation or further correction in the short term. In conclusion, while Solana’s recent breakout signals growth potential, XRP’s surge has overshadowed its market cap. With fluctuating momentum and mixed market sentiment, Solana’s future remains uncertain,
Long
by paul_endeo
Capital will rotate back into Solana and Solana coinsWithout a doubt in my mind Solana was the altcoin that led crypto out of the bear market. In many metrics it has become the best performing chain. Raydium, Jito, Jupiter and others inc Phantom have be key players in this. Now capital is clearing rotate away from the gains made in Solana to non Solana areas. Perhaps we see further rotation throughout crypto before either rotation to BTC or USD. Should rotation be BTC then I believe Solana could follow closest. Moving into prime position as leading altcoin in rotation this cycle. Of course should Solana get this position again for next BTC leg up (whenever that is) then the Solana coins like RAY, KMNO, MNDE and others are likely to follow.
COINBASE:MNDEUSDLong
by SoftQuant
Solana (SOL/USD): Bullish Prospects and the Potential for a $10KAn Elliott Wave Analysis As of today, BINANCE:SOLUSD is trading at approximately $263 per coin, and it's become clear from a technical perspective that the cryptocurrency is currently in the midst of an exciting journey within Elliott Wave Theory’s third wave. For investors and traders monitoring Solana’s potential, understanding this wave structure can offer significant insights into its future price trajectory, with a bold possibility that could see the price surpass $10,000 in the coming years — given favorable market conditions. Understanding Elliott Wave Theory and its Application to Solana Elliott Wave Theory is a popular and effective method of technical analysis that identifies recurring price patterns driven by investor psychology and market sentiment. In a typical market cycle, there are five waves in the direction of the trend (impulse waves), and three corrective waves against the trend. Wave 1 represents the initial surge, often unnoticed by the majority of market participants. Wave 2 is a correction or pullback. Wave 3 is typically the longest and most powerful of the impulse waves, driven by widespread adoption and market enthusiasm. Wave 4 brings about a minor correction, and Wave 5 concludes the bullish trend. Currently, Solana appears to be in Wave 3, a phase in which the price tends to expand considerably. This third wave, as per the theory, is usually the longest and most explosive, often surpassing the length of Wave 1. This offers a promising outlook for the SOL/USD trading pair in the medium to long term, especially as Solana continues to mature as a blockchain platform. Why the Third Wave is Crucial for Solana’s Potential The third wave of an Elliott Wave cycle is particularly significant for several reasons: Wave 3 is the longest – Historical price action shows that Wave 3 tends to be the most extended of the five waves in the cycle. If Solana is indeed in this wave, we can expect its upward momentum to be strong, pushing prices to new highs. Market sentiment – Wave 3 is driven by mass market participation, often following a period of increasing institutional interest, technological advancements, and favorable news. Solana’s growing adoption as a blockchain for decentralized finance (DeFi), NFTs, and decentralized applications (dApps) puts it in an ideal position to fuel this momentum. Potential for exponential growth – Given that Wave 3 is typically more robust and substantial than Wave 1, we could see Solana’s price extend into an uncharted territory, far beyond the current $263 mark. Solana’s Path Towards $10,000 Looking forward, if Solana continues its strong development, adopts newer technologies, and maintains robust network upgrades, the price could experience exponential growth. Historical patterns suggest that, when in the third wave, markets can experience significant price appreciation. If we extrapolate this logic, considering the magnitude of Wave 1 and Wave 2, and assuming Solana continues to solidify its place as a leading blockchain platform, the third wave might take the price of SOL above $10,000 per coin. Here’s why this is a potential scenario: Technological Innovation – Solana has distinguished itself as one of the fastest and most scalable blockchains in the crypto space. As the Solana ecosystem continues to evolve, new developments such as the potential for Solana to become a key player in the DeFi and NFT sectors could increase its value drastically. Broader Market Adoption – If more institutional investors and users gravitate toward Solana as their blockchain of choice, the demand for SOL tokens will rise significantly, likely pushing the price even higher. This will be especially true if Solana attracts more decentralized finance projects or integrates with other major platforms. Favorable Political and Economic Environment – The cryptocurrency market’s long-term growth potential depends largely on regulatory clarity and broader political factors. If political environments remain favorable, particularly in key regions such as the US, Europe, and Asia, Solana could benefit from increased adoption. Continued DeFi and NFT Growth – Solana’s blockchain has seen growing use in both the decentralized finance (DeFi) and NFT spaces, with more projects launching on its fast, low-fee network. If these trends continue, demand for Solana's native token could continue to grow, helping to push prices higher. A Long-Term Perspective While it's important to note that cryptocurrency markets are highly volatile, and predicting the exact price of Solana years down the road remains speculative, it’s clear that if Solana continues to develop, and the market conditions align favorably, it could see incredible price growth. The current formation of the Elliott Wave structure on the monthly timeframe suggests that Solana might just be at the beginning of an incredibly bullish phase, with the third wave offering massive upside potential. The price target of $10,000 for Solana may seem lofty at first glance, but considering that Wave 3 tends to be the longest and most powerful phase in an Elliott Wave cycle, such a scenario becomes feasible over the long term. For now, traders and investors should keep an eye on the ongoing price movement and macroeconomic factors that could help shape Solana’s future trajectory. Conclusion The Solana/USD pair is currently in the midst of the third wave in Elliott Wave Theory, which historically is the most powerful and lengthy of the impulse waves. Given Solana's technological advantages, strong growth in DeFi and NFTs, and favorable market conditions, there is a significant possibility that the price of Solana could exceed $10,000 in the future. However, it’s important to monitor the broader market sentiment, technological advancements, and political stability that will influence the trajectory of this crypto asset. For now, if you're holding Solana, the future looks promising, with the potential for massive returns over the coming years — provided the bullish momentum from Wave 3 continues to develop as expected. For research purposes only!
BINANCE:SOLUSDLong
by Adilforgood
5
#SOL 4H: EXPECTING A LOCAL CORRECTION. 12/01/24Currently, the price is moving sideways and remains under a descending trendline that acts as resistance. If this trend persists, I anticipate a slight breakout upward followed by a correction to the $222-$218 range. This area could be ideal for considering a futures position or cautious spot accumulation, with near-term targets of $260-$290. #SOL is definitely a must-have in your portfolio. My minimum expectations for #SOL are $300-$400. Everything is illustrated on the chart. DYOR.
Short
by trendbooster
DIEGO GUZMAN DE ABC TRADERS Y LA IGLESIA DEL POLLO AHUMADOBoth Diego, founder of ABC TRADERS, has shaken the cryptocurrency world once again, but this time it's not about Bitcoin or Ethereum—it’s about meme coins. In a recent essay, we revealed that due to rising geopolitical tensions, he has drastically reduced his meme coin portfolio. Surprisingly, the only meme coin he has kept is :SCF (Smoking Chicken Fish). What makes :SCF special, and why is he betting on this little-known token? Diego's Move The decision to sell most of his meme coins is noteworthy, especially given the overall volatility of the cryptocurrency market amidst geopolitical tensions. Following Iran’s missile attack on Israel, Hayes expressed concerns about the potential for significant losses in an already uncertain market. His strategic reduction underscores the unpredictability of how crypto assets, especially meme coins, will respond to global conflicts. However, in a surprising move, he held onto :SCF, a relatively obscure meme coin, signaling his belief in its long-term potential despite the market's inherent volatility. According to Diego, *"The only meme coin I currently hold is 'Church of Smoking Chicken Fish (SCF).”* This vote of confidence suggests that there might be something fundamentally unique about :SCF that sets it apart from other meme coins. What is :SCF (Church of Smoking Chicken Fish)? :SCF is one of the latest meme coins to capture attention, blending humor and speculation in a way that appeals to retail traders looking for explosive growth. Meme coins have been an exciting subset of the cryptocurrency space, characterized by high risk and high reward. While many of these tokens fail after the initial hype, :SCF has gained an unusual level of attention, especially with a high-profile investor like Hayes, CO-FOUNDER OF BITMEX, keeping it in his portfolio. Technical Outlook for :SCF: What the Charts Say On the technical front, :SCF is showing signs of consolidation, currently trading at $0.1011, down from its all-time high of $0.14. With an RSI of 44, the token is not yet in oversold territory but is dangerously close to testing key support levels. The token is testing its only real resistance level at $0.1019. A breakout above this level could indicate "blue skies" ahead, suggesting significant upside potential. On the downside, :SCF has a critical support level at $0.1011. If the token fails to hold this level, further declines could occur. However, if it holds, MIL:SCF could consolidate and build momentum for another bullish push. While currently trading 8% lower, :SCF has been consolidating within a channel, a typical pattern observed before a potential breakout. Both traders and investors will be closely watching to see if :SCF can break through its resistance and stage a comeback rally. Volatility and Market Sentiment Like many meme coins, :SCF is subject to significant volatility. However, the continued support of the community, combined with Hayes’ public endorsement, adds a layer of bullish sentiment that could spark renewed interest in the token. Additionally, Arthur Hayes' ongoing investment in presale tokens and less-liquid meme coins through his company, Maelstrom**, indicates that he is positioning for future opportunities while maintaining a strategic position in SCF. Why Hayes and I Chose :SCF Over Other Meme Coins While Hayes has not fully disclosed his reasoning for preferring :SCF, several factors likely influenced the decision: 1. Low Risk, High Reward Potential: Given :SCF's relatively low price and market cap compared to larger tokens, the upside potential may far outweigh the risk. 2. Limited Downside: With :SCF already down 8%, the token could be near its floor, making it a strategic hold during volatile periods. 3. Community and Meme Culture: Meme coins like :SCF thrive on community-driven hype. As one of the very few meme coins in my portfolio this week, :SCF could benefit from renewed attention following its endorsement. The Bigger Picture: A Strategic Play in a Volatile Market Arthur Hayes’ decision to reduce his exposure to meme coins while retaining :SCF reflects a broader trend among cryptocurrency investors: shifting toward safer, more predictable assets in times of uncertainty. However, by holding onto :SCF, Hayes is also betting on the continued popularity of meme coins, which have shown remarkable resilience in previous market cycles. While the long-term growth prospects for Bitcoin remain intact, Hayes acknowledges the high volatility of meme coins and the potential collapse of weaker projects. By choosing :SCF, he positions himself in a way that limits risk while keeping a foothold in the meme coin market, which could offer explosive gains during the next bull run. Conclusion: Will :SCF Soar or Sink? :SCF is at a critical juncture. With Arthur Hayes backing it, the coin has the potential to gain significant traction. However, it remains to be seen if it can break its key resistance level and return to its all-time highs. For now, :SCF offers a high-risk, high-reward bet that appeals to both speculative traders and meme coin enthusiasts. This is why I stand firm and committed to this with conviction! Success ahead!
Long
by TRADER_DIEGO_GUZMAN
1