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Solana

Phemex Analysis #31: Is SOL Ready for a Breakout?PHEMEX:SOLUSDT.P has exhibited a steady upward trajectory, climbing from $138 to $179 in October. This surge has ignited anticipation among investors, with many predicting a resurgence of the Solana bull run. To capitalize on this potential, it's crucial to identify key support and resistance levels that could significantly influence SOL's price movement. 1. Strong Resistance Zone: $181 - $193 This price range has acted as a formidable barrier in the past, rejecting price increases on May 21st and July 30th. If Solana can successfully break through this resistance zone, it could pave the way for a continuation of the uptrend, potentially driving the price towards $210. Traders might consider entering long positions at this breakout point and taking profits around $210, or holding for further gains. However, there's also a risk of rejection at this resistance level. If the price plummets sharply with a large red candle, it could signal a potential downturn, leading to a drop towards the support zones. 2. Intermediate Support Zone: $140 - $126 If Solana encounters resistance at the $181-$193 zone, traders might consider shorting the asset with a take-profit target at the intermediate support zone. For long-term holders, buying the dip at this support zone during a potential retracement could be a strategic move. 3. Strong Support Zone: $105 - $93 While this is the least likely scenario, it's essential to be prepared for a potential drop to the strong support zone. However, given Solana's growing fundamental strength, with more projects onboarding the Solana blockchain and the anticipation of a Solana ETF, a significant price decline seems less probable. Conclusion Solana's price action is influenced by key support and resistance levels. By carefully analyzing these zones, traders can make informed decisions about when to enter and exit positions. While the bullish sentiment surrounding Solana is strong, it's crucial to maintain a balanced perspective and be prepared for potential market volatility. Tips: Elevate Your Trading Game with Phemex. Experience unparalleled flexibility with features like multiple watchlists, basket orders, and real-time adjustments to strategy orders. Our USDT-based scaled orders give you precise control over your risk, while iceberg orders provide stealthy execution. Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
by Phemex
Support Zone: 168.46-171.63 Hello, traders. If you "Follow", you can always get new information quickly. Please click "Boost". Have a nice day today. ------------------------------------- (SOLUSDT.P 1M chart) The important zones are three zones. - 171.63 - 137.04-147.56 - 101.78 Therefore, you can trade depending on whether there is support near 171.63. - (1W chart) The location of the BW (100) indicator is 202.68. Therefore, the point to watch is whether it can rise from around 171.63 and rise above 202.68. If not, since the HA-High indicator on the 1W chart is formed at the 168.46 point, we need to check for support around 168.46-171.63. If it falls below 168.46, we need to check for support around 137.04-147.56. - (1D chart) The HA-High indicator on the 1D chart is formed at the 179.77 point. Therefore, the key is whether it can support around 179.77. Currently, the StochRSI and StochRSI EMA indicators are in the overbought zone and the BW indicator is at the highest point (100). Therefore, although it is showing strong upward strength, it will show a downward trend as the downward pressure increases over time. At this time, the point to watch is whether it can receive support around 168.46-171.63. If it receives support, I think it is highly likely that it will lead to an upward trend to rise above the 202.68 point as I mentioned earlier. If not, and it falls, we should check whether there is support around 158.39, where the M-Signal indicator on the 1D chart is passing. - The arrow was created because the BW indicator touched the 100 point. Since it has been maintaining the 100 point since then, the BW (100) line is not created. If the price shows a downward trend, it will show a trend of creating the BW (100) line. Therefore, it is recommended to proceed with trading according to the movement after the BW (100) line is created. Therefore, it can be seen that the possibility of the BW (100) line being created at the 179.77 point is increasing. Therefore, it is necessary to check whether it is possible to enter a short-term SHORT position. - Have a good time. Thank you. -------------------------------------------------- - ​​Big picture It is expected that a full-scale uptrend will begin after rising above 29K. The section expected to be touched in the next bull market is 81K-95K. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (overshooting) 4th: 134018.28 151166.97-157451.83 (overshooting) 5th: 178910.15 These are points where resistance is likely to occur in the future. We need to check if these points can be broken upward. We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section. #BTCUSD 1M If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33. 1st: 43833.05 2nd: 32992.55 -----------------
by readCrypto
Solana Full Analysis Everything You Need to Know Afternoon Traders So I break down Solana for you today as its shaping up our first tp is 189 that we are heading to however if we break past that 195 is a great next tp to get to. In this video I go through the levels and why behind it to make sure you understand what levels to look out for when trading. If you found this video helpful let me know with a comment, follow or boost. I appreciate it Mindbloome Trading/ Kris Trade What You See
CRYPTO:SOLUSDLong
by Mindbloome-Trading
An underrated rocket $DBRThe project has been running for a long time. One of the few projects that bring a good income. Average commission generation per day is ~$20,000. Revenue for all time at the time of writing this review $13,178,759. A small circulating supply of tokens 1,800,000,000 from 10,000,000,000 $DBR. Capitalization at the moment is $47,847,785 At full dilution mcap $265,821,021. Token unlocks are smooth. Couldn't find out what the seed round was priced at. However, the token sale was at a fixed price for all $0.025. I expect that before fixing profits large holders will want to attract traders' attention and contribute to the growth of the project. Pessimistically I expect around $0.25, Optimistically $0.4-$0.5
Long
by Somom
2
Solana Surpasses ETH in Daily Fees What’s Fueling SOL’s MomentumIn a significant milestone, Solana ( CRYPTOCAP:SOL ) has overtaken Ethereum in daily transaction fees, raking in over $4.1 million. The driving force behind this surge is the newfound popularity of AI meme coins, which have spurred a wave of network activity on Solana ( CRYPTOCAP:SOL ), positioning the blockchain for further growth. AI Meme Coin Craze Propels Solana to New Heights The meme coin frenzy, spearheaded by tokens like Goatseus Maximus (GOAT) has been the key catalyst for Solana’s recent surge. GOAT has skyrocketed by 40%, reaching an all-time high of $0.7009, with its market cap soaring past $700 million in just two weeks. GOAT, which gained popularity through promotions by AI bot ‘Truth Terminals,’ highlights how AI and meme coins have captivated the crypto community. This trend is not isolated, as more AI-driven tokens like MEW, POPCAT, PYTH, and RAY are also showing strong performance. These five tokens have gained traction on Solana, with double-digit percentage increases in just a short time. This surge in popularity has made Solana the go-to platform for launching these new-age meme coins, significantly boosting its network revenue. Solana’s Rise to the Top Solana’s success isn’t limited to AI meme coins alone. Over the past month, Solana ( CRYPTOCAP:SOL ) has consistently outperformed other top cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), with SOL gaining 18% in value. At press time, SOL is trading at $174, with a market cap of $82 billion, firmly securing its place among the top five cryptocurrencies according to CoinMarketCap. Analysts are bullish on Solana’s future, with some predicting a parabolic rally that could push the SOL price toward its all-time high of $2,000. Data from Coinglass shows that open interest in Solana ( CRYPTOCAP:SOL ) has surged by 13.7%, reaching $3.4 billion, while derivatives trading volume has increased by 25% to $9.54 billion in the past 24 hours. These figures suggest that more institutional money is flowing into Solana, setting the stage for a continued price rally. Technical Outlook: A Bullish Run for SOL? From a technical perspective, Solana’s price action shows bullish momentum, with CRYPTOCAP:SOL up by 2% at the time of writing, trading above key moving averages. The daily candlestick chart displays a bullish engulfing pattern, a strong indicator that the uptrend could continue. However, the RSI stands at 70.87, signaling that CRYPTOCAP:SOL is approaching overbought territory, which warrants caution. A consolidation phase could see CRYPTOCAP:SOL pull back to the support level of $145. Nevertheless, market sentiment remains positive, with many analysts pointing out that Solana, like most altcoins, often mirrors Bitcoin’s performance. If BTC shows strength in the coming weeks, CRYPTOCAP:SOL could test the $200 resistance level, potentially paving the way for new highs. Conclusion Solana’s ability to surpass Ethereum in daily fees underscores its growing importance in the crypto ecosystem. As the blockchain continues to dominate the AI meme coin space, it is likely to attract more developers and projects to build on its platform. With robust technical indicators and a supportive fundamental outlook, Solana ( CRYPTOCAP:SOL ) is well-positioned for sustained growth, making it one of the top contenders in the Layer-1 blockchain space. Solana’s recent surge and the attention it’s receiving from traders, developers, and investors alike could mark the beginning of a new era for the blockchain. While caution is warranted due to its current overbought levels, the long-term potential remains significant. As the AI meme coin craze continues, Solana ( CRYPTOCAP:SOL ) is set to remain in the spotlight, with its price action likely to captivate the market in the weeks ahead.
COINBASE:SOLUSDLong
by DEXWireNews
Scaling HeightsUptober is finally upon us. But as Bitcoin's price picked up, the real standout price action this month has once again come from Solana. The high-performance chain is the main hub for this cycle's biggest narrative: memecoin trading. Retail traders enjoy the speed, ease-of-use and 'straightforwardness' of Solana's trading experience. The fact that popular memecoin launchpads are on Solana just furthers this virtuous cycle. Recently, Solana's total volume has superseded that of Ethereum and of its Layer 2s combined. No wonder that Solana's year-to-date price performance has blown both ETH and even BTC out of the water. This price movement also highlights another market development: the old paradigms are dead. Bitcoin's rallies were supposed to be followed by Ethereum and then by other Alts. If Ethereum underperformed, Alts were supposed to be absolutely crushed. Yet, the tides have turned entirely. Solana has continuously outperformed Ethereum in this cycle so far. Memecoins have been flying, regardless of Ethereum. Meanwhile, Bitcoin, driven by ETFs and institutional adoption, has continued to move in a 'weight class' of its own. The old paradigm is dead, long live the new one? One of the main challenges for Ethereum in this cycle has been its inability to shape a strong, coherent narrative. While Solana's thesis can be broken down to 'fast casino = gud', Ethereum's complex roadmap, countless Layer 2s and even Layer 3s, and deeply technical conversations have turned away a lot of regular users. Undoubtedly, Ethereum continues to command a lot of developer mindshare. It also comes closest to institutional adoption for smart contract use-cases thanks to its technological maturity. Impressive technical progress is being made towards user-experience improvements such as account and chain abstraction which will make Ethereum easier, faster and better for all users. But if this can already translate into positive price action this cycle remains to be seen. On the wider macro side, markets remain hopeful that a new breakthrough can finally happen to new Bitcoin all-time-highs. The upcoming US elections and continuing wars in Eastern Europe and the Middle East provide for both greed and despair among traders. A more pro-crypto administration post US elections and an end to the wars could ignite a firework. But right now events could turn either direction. For now, the markets are optimistic, yet also at the whim of a coin-flip. Happy trading everyone!
by Coinrule
Solana amid network usage: bull rally ahead? Solana (SOL) has witnessed a notable surge in user activity over the past month. The chain’s daily active address and transaction count have skyrocketed by double digits in the past 30 days.  This uptick in network demand may directly fuel SOL’s rally above the $200 price mark for the first time since April. Over the past 30 days, demand for the Solana network has surged, as evidenced by an increase in daily active addresses. According to data from Artemis, 7 million unique addresses have completed at least one transaction on Solana during this period, marking a remarkable 70% increase. This rise in active addresses has naturally led to a corresponding uptick in daily transaction volume on the network. Over the same 30-day period, Solana has processed 44 million transactions, representing a 24% increase in daily transaction count on the L1.  As more users engage with a blockchain network, the utility of its native asset (SOL in this case) increases. High usage indicates that more transactions are occurring, often requiring more of the network’s token to pay transaction fees. This boosts demand for the asset, driving up its price. If Solana continues to experience increased network activity, driving demand for SOL, its price—currently at $166.15—could break past the resistance level of $172.53.  A successful breach of this resistance would set the altcoin on course to reach $194.12. Should buying momentum continue to increase, Solana’s price could reclaim $210.18, a level it last touched in March. However, if user activity on Solana declines and demand for SOL weakens, the price may test support at $148.15. Failure to hold this level could push the coin down further to $133.76, invalidating the bullish outlook.
Long
by paul_endeo
$GIGA: The Rise of the Giga Chad Meme Coin on SolanaIn the ever-evolving world of cryptocurrency, where memecoins often attract speculators and enthusiasts alike, BME:GIGA stands out as the new contender aiming for the top. Built on the Solana blockchain, BME:GIGA positions itself as more than just another memecoin. It's inspired by the Giga Chad meme—a symbol of self-improvement and discipline—and has garnered significant attention from the crypto community. Whale Moves and the Growing Memecoin Market The memecoin sector has recently seen explosive growth, with a 36% surge in market capitalization, rising from $41.49 billion to $56.46 billion in just 30 days. Memecoins such as DOGE, SHIB, and PEPE might not be regaining their earlier momentum, but new entrants like BME:GIGA , alongside GOAT and FWOG, are seizing the spotlight. One of the most significant moments in BME:GIGA ’s recent history was a whale movement involving a $5.46 million investment in memecoins, including $GIGA. The whale allocated 11,750 SOL (around $1.96 million) to purchase 31.71 million GIGA tokens at an average price of $0.062. This move, noted by blockchain monitoring service Lookonchain, signals increasing confidence in BME:GIGA ’s potential. The Giga Chad Movement BME:GIGA isn't just about profits; it draws its philosophy from the Giga Chad meme, which emphasizes self-discipline, time management, and personal growth. This foundational ethos resonates within its community, where members strive to improve themselves and inspire others around them. Beyond its meme origins, BME:GIGA has captured mainstream attention thanks to endorsements from notable figures like Ernest Khalimov, the face of the Giga Chad meme, and bodybuilder Mike O’Hearn. These endorsements have been particularly influential on social media, contributing to price spikes and further embedding BME:GIGA into the fitness and sports culture. The coin's association with Giga Fitness solidifies this unique blend of meme culture and fitness, making BME:GIGA stand out in a crowded marketplace. Price Movement and Market Sentiment As of now, BME:GIGA is trading at $0.0615, with a 24-hour volume of over $11 million, showing strong market interest. The memecoin has also climbed by 8.06% in the past 24 hours, pushing its market cap to $572 million, securing its position at #210 on CoinMarketCap. Technical Analysis: Is There More Growth Ahead? On the technical side, BME:GIGA is currently navigating a critical resistance level, struggling to break past the $0.077 pivot point. Despite this, the coin remains bullish with its Relative Strength Index (RSI) sitting at 63, suggesting more upside potential. However, to reach its next significant resistance level, a substantial influx of volume will be necessary. Immediate support is found at $0.048, a level that has held strong during market pullbacks. With BME:GIGA trading above key moving averages, its recent bullish spark has been sustained. Should the broader memecoin market remain heated, BME:GIGA could see further gains in the short term. Final Thoughts While BME:GIGA ’s association with high-profile figures and its growing community make it an attractive investment in the short term, its long-term potential hinges on its ability to maintain momentum and evolve beyond its meme origins. Like most memecoins, BME:GIGA thrives on social media hype, and its continued success will depend on sustaining that buzz while delivering real-world value. For traders, BME:GIGA offers an exciting opportunity, particularly for those who can navigate the volatility of the memecoin market. With technical indicators pointing towards a possible surge and growing whale interest, BME:GIGA could be primed for more upside in the coming weeks.
RAYDIUM:GIGASOL_4XXM4C.USDLong
by DEXWireNews
SOLUSDT - the real indicator of bear market!I think everyone should take this chart as a basic reference for trading Why is sol considered a real indicator of the market situation? sol is one of the biggest coins in terms of market cap ( 5th in ranked with 78.2B in marketcap) As you can see on the chart in front of you, sol rose more than 600% last October when it broke the 300 day of accumulation and it was a strong entry signal for all other currencies Now on the weekly chart we see that sol is forming a wyckoff distribution pattern. I uploaded a picture to verify this for yourself. check it and you will find it matches what is happening on the chart You will find the 0.786 level is the bottom, which if it is broken weekly, it is a clear and explicit signal to get out of all your money from the market and make it 100% cash according to this data i see that will happen within 2 months Best regards Ceciliones🎯
by ceciliones
11
Solana (SOL) Eyes $200 Breakout Amid Market SurgeSolana ( CRYPTOCAP:SOL ) has seen a remarkable surge in market activity, with its price climbing 12% in the past week alone. The altcoin currently trades at $165.35, just below a crucial resistance level of $171.74. This rapid rally has ignited speculation that Solana ( CRYPTOCAP:SOL ) could soon break through the $200 mark, setting the stage for a potential extended uptrend. Solana’s recent performance is driven by several technical and fundamental factors, which suggest both opportunities and risks for investors. Here’s a comprehensive look at the key drivers behind SOL's current price movement. Technical Analysis: Solana's price action has been characterized by sustained buying pressure, with the token testing the $171.74 resistance level. A successful breach of this resistance could pave the way for Solana to rally toward its next major resistance at $186.32. If CRYPTOCAP:SOL breaks through this, it could potentially push past the psychological $200 mark, a price not seen since March. The Relative Strength Index (RSI) is at 68.50, indicating that the asset is nearing overbought territory. While not yet in the danger zone (above 70), the RSI suggests that Solana ( CRYPTOCAP:SOL ) has experienced strong buying momentum, which could slow down if the token becomes overbought and faces selling pressure. Despite this, the asset is still in a bullish position, with its RSI confirming the strength of its upward trend. Symmetrical Triangle Formation Another important technical indicator is the symmetrical triangle pattern that has formed on Solana’s daily price chart. This pattern is often associated with the potential for a breakout in either direction, but given Solana’s current upward trajectory, a breakout to the upside is more likely. The key pivot point for this pattern is set at $200—if CRYPTOCAP:SOL reaches this level, it could trigger an explosive rally as traders pile in, sensing a clear upward trend. However, traders should keep an eye on support levels at $131.38. A failure to maintain momentum could lead to profit-taking, pushing the price lower and testing these critical support areas. Such a scenario would invalidate the bullish thesis, at least in the short term. Open Interest and Market Sentiment One of the key factors driving Solana’s price rally is the significant rise in open interest for its futures contracts. Open interest has surged by 29% since October 18, reaching $2.31 billion—its highest level since August. This spike in open interest signals growing market participation and interest in Solana, indicating that traders are actively betting on continued price appreciation. When rising open interest accompanies price increases, it typically confirms the strength of an uptrend, as it shows that more market participants are willing to place long positions. Solana’s **positive funding rate of 0.012%** further supports this trend, indicating that traders are paying a premium to hold long positions, reflecting bullish sentiment in the market. Avoiding a Short Squeeze Unlike many other altcoins that face short squeezes when their prices rise rapidly, Solana’s rally has been driven by demand for long positions rather than short covering. This dynamic suggests that the current price surge is based on genuine market demand rather than forced liquidations, which bodes well for the sustainability of the rally. Ecosystem Growth and Technological Advancements Solana’s growth isn’t just driven by speculative interest; the altcoin’s underlying ecosystem is expanding rapidly. Solana’s high throughput and low transaction fees make it an attractive option for decentralized applications (dApps) and decentralized finance (DeFi) projects. As Solana continues to attract developers and users, its utility as a platform token strengthens, further driving demand for SOL. Moreover, Solana’s scalability solutions have continued to evolve, making it one of the most promising blockchain networks for the long term. The ongoing growth of **Solana-based dApps, NFT platforms, and DeFi projects** has brought more attention to the network, increasing its appeal to both institutional and retail investors. Looking Ahead While Solana’s technicals suggest a potential breakout, it’s important to consider the broader market environment. If Bitcoin (BTC) continues its bullish trend, it could help propel Solana ( CRYPTOCAP:SOL ) and other altcoins higher. However, if the broader crypto market experiences a correction, Solana ( CRYPTOCAP:SOL ) could face headwinds, especially if traders decide to take profits at key resistance levels. If Solana ( CRYPTOCAP:SOL ) breaks through $171.74, the next major hurdle is $186.32. A move past this level could see CRYPTOCAP:SOL rally toward $200. However, failure to break through could result in a retracement to $131.38, where key support lies. Conclusion Solana ( CRYPTOCAP:SOL ) is at a critical juncture, with its price action signaling both opportunities and risks for traders. The altcoin’s technical indicators, such as the RSI and the symmetrical triangle pattern, suggest a potential breakout to the upside, while its rising open interest and positive market sentiment confirm the strength of the rally. However, investors should remain cautious of potential profit-taking and overbought conditions, which could lead to a pullback. The next few days will be crucial in determining whether Solana can sustain its upward momentum and break through the $200 mark. For now, the bullish case remains intact, and all eyes are on whether Solana ( CRYPTOCAP:SOL ) can achieve its next leg up in the ongoing rally.
Long
by DEXWireNews
Solana Update: Holding $162 or Dropping to $147? Here’s the breakdown, fam – if SOL holds $162, we could see a move up to the $178-$184 take-profit zone. But if $162 doesn’t hold, expect a dip to $147 before trying for that same target again. If $147 breaks, we could be in for a deeper bearish move. Stay sharp, manage your levels, and let’s see how it plays out! Like, comment, or follow if you want more updates like this! Mindbloome Trading Trade What You See
COINBASE:SOLUSD
by Mindbloome-Trading
5
Solana (SOL) Price Prediction: Poised for a Breakout and New AllThe chart of Solana (SOL) is painting an exciting picture for the medium term. We're currently witnessing the formation of a massive triangle pattern, and a breakout seems imminent. This technical formation, combined with other indicators, strongly suggests that SOL is preparing for a significant upward move that could propel it to new all-time highs (ATH). Key Takeaways: Triangle Breakout: The price action is consolidating within a large triangle pattern. A decisive break above the upper trendline of this triangle will signal a bullish breakout, potentially triggering a strong rally. Fibonacci Targets: Based on Fibonacci extensions, we can project potential price targets for this anticipated move. The primary target zone lies between $257 and $260. This aligns perfectly with the 1.618 Fibonacci extension level, a key area where price often encounters resistance or support. Historical Support: The lower trendline of the triangle has provided solid support for SOL during its consolidation phase. This reinforces the significance of a breakout above the upper trendline. Why This Matters: Solana has been a strong performer in the cryptocurrency market, and this potential breakout could mark the beginning of a new bullish chapter. A surge to new ATHs would not only be a major milestone for SOL but also a testament to its growing adoption and utility in the decentralized finance (DeFi) and NFT spaces. Get Ready: If you're bullish on Solana, now is the time to pay close attention. A breakout above the triangle could happen quickly, leading to rapid price appreciation. Keep a close eye on the $257-$260 resistance zone, as this will be a crucial area to watch for potential profit-taking or further continuation of the uptrend. Disclaimer: This is a technical analysis based on the provided chart and historical price action. It's not financial advice, and the cryptocurrency market is inherently volatile. Always do your own research and invest responsibly.
COINBASE:SOLUSDLong
by Broker_Hunter
The US ELECTION gives Wall St confidence and Bitcoin pumps.Satoshi 4 year cycle neatly intertwines the the USA #election cycle and the debt/interest rate cycle / The business cycle. To gives us predictable patterns of outperformance. The months of November into Spring post halving is essentially the Banana zone. Let's make the most of it ... you should be allocated into you main core coins and buying into strong #altcoins that are capturing the zeitgeist. I believe #Solana is likely to outperform on their respective ratio #Pulsechain may surprise people once #ETH closes in on the $4,000 mark And #TitanX ecosystem to continue to flourish in a #DEFI resurgence. (TitanX is the best example of DEFI i have seen so far.) VC coins may likely continue their relative underperformance as the collective crowd shuns the poor deals offered to us.
INDEX:BTCUSDLong
by BallaJi
8
SOL Looks Bullish (4H)From where we placed the red arrow on the chart, it seems that the price has entered the correction phase. This phase seems to be a diametric, which we are now in the middle of the F wave. From the green range, we expect SOLANA to move towards the TPs indicated on the chart. The targets are marked on the chart. Closing a daily candle below the invalidation level will violate this analysis. For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark