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Solana

Is Solana (SOL) reclaiming $180?Solana price has displayed a similar price action by recording a significant correction in its respective portfolio. With the rising price volatility in the crypto space, will Solana price record a bullish reversal this week or plunge toward its new low? Following, the ongoing cross-border market correction, the Solana price has lost 4.61% in valuation within the past 24 hours with a trading volume of $2.265 Billion, a change of +9.53%. Further, it has plunged 10.48% during the past week and 18.90% over the past 30 days. The Solana price has been trading within a closed range since mid-April, indicating a weak price action for the altcoin in the crypto market. Moreover, the SOL price has formed a resistance zone above its resistance level of $155, highlighting a strong selling point at that level. However, strong buying pressure has also formed close to its crucial support trendline around the $120 level, indicating a high possibility of a bullish reversal for the Solana price at that point. If the market holds the SOL coin price above its crucial support level of $127, the bulls will regain momentum and head toward its resistance level of $155. Maintaining the price at that level will set the stage for Solana price to attempt to test its upper resistance level of $181.50 this month. However, if the bears continue to dominate the market, the SOL crypto will plunge toward its crucial support level of $127.00. Moreover, if the bulls fail to hold the price at that level, it will prepare to test its low of $100 during the upcoming weeks.
by paul_endeo
Solana Price Might Explode as a Breakout Pattern EmergesThe Solana price managed to record a slight gain over the past 24 hours to trade at $137.33 at press time. Despite the slight uptick, the SOL price is still in the red on the weekly and monthly timeframes. A symmetrical triangle has formed on the 4-hour chart for the Solana price. This specific pattern suggests the altcoin might make a strong move soon. Although the triangle pattern does not give any clear indication of which direction SOL could move in, the crypto is trading near the upper boundary of the chart pattern. Should the Solana price break out towards the upside, it could attempt to flip the resistance level at $144.30 into support. Continued buy volume should the crypto overcome this threshold might then lead to SOL climbing to as high as $151.45 in the short term. On the other hand, a downside move could lead to the altcoin losing the $136.45 support. Thereafter, the Solana price might be at risk of plunging to $127.70 and possibly fall to $121.65 if bears keep exerting pressure on the crypto’s price. Technical Indicators Sending Mixed Signals Technical indicators on SOL’s 4-hour chart are currently sending mixed signals. The Moving Average Convergence Divergence (MACD) indicator shows that SOL entered into a short-term positive cycle in the last couple of hours. This is evident by the MACD line breaking away above the MACD Signal line. However, the Relative Strength Index (RSI) warns that sellers are on the verge of gaining an upper hand against buyers on SOL’s 4-hour chart. With the RSI on the cusp of falling below its Simple Moving Average (SMA) line, bears could very well take control of the Solana price. This could lead to a drop below the immediate support at $136.45. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
by Ecoinimist
1
Here's How You CONSOLIDATE Your Portfolio Into WinnersGoing through my entire portfolio to judge performance vs Solana, which has been my golden goose this cycle. I bought TSX:FIL in October 2023. If I put that money in Solana instead, I’d be up 345% vs breakeven right now. Obviously I’m selling that position here and flipping it into CRYPTOCAP:SOL How to compare: Jump onto TradingView and on the chart name type: BINANCE:SOLUSDT/BINANCE:FILUSDT You can swap out tickers and exchanges to compare your own portfolio.
Education
by jonnieking
Comprehensive Analysis of Solana (SOL) Bull Market and Future PrSolana (SOL) has captured the attention of traders and investors alike with its impressive price movements and robust technology. This comprehensive analysis dives into the current state of Solana's bull market, examining key indicators, historical trends, and potential future scenarios based on the weekly chart data. Historical Context and Past Bull Markets Solana has experienced several notable bull markets in the past, with the most significant occurring from late 2020 to mid-2021, lasting approximately 7-8 months. These periods were characterized by rapid price appreciation and heightened market activity, driven by strong market sentiment and broader cryptocurrency market cycles. Current Market Analysis Key Support and Resistance Levels Support Zones: $130.13: Immediate support level. $99.47: Important mid-level support. $61.54: Critical long-term support. Resistance Zones: $160.79: Significant resistance level. $204.45: Higher resistance level indicating potential upside targets. Technical Indicators Moving Averages (MA): The fast MA (9-week) is above the slow MA (21-week), indicating a sustained bullish trend. Relative Strength Index (RSI): Currently in a neutral zone, not indicating overbought or oversold conditions, suggesting room for further price movements. MACD (Moving Average Convergence Divergence): Positive but showing signs of weakening momentum. A bullish crossover in the normalized MACD line above the signal line would reinforce the bullish scenario. Enhanced Indicators: Large Traders Index (LTI): Increased activity by large traders often precedes significant market moves. Retail Traders Index (RTI): Measures the activity of retail traders. Normalized Combined Volatility: Indicates potential for significant price movements. Market Sentiment and Volatility The enhanced normalized volatility suggests a period of high market activity, typical in bull markets. Increased activity by large traders (blue line) and retail traders (red line) provides insights into market sentiment, with large trader activity often indicating upcoming major moves. Future Projections Short-Term (Next 3-6 Months) Bullish Scenario: If Solana maintains support above $130.13 and bullish indicators remain strong, we could see a continuation of the uptrend, potentially testing the $160.79 resistance level. Bearish Scenario: A break below $130.13 could lead to a test of the $99.47 support level. A sustained move below this level might signal further downside. Medium-Term (6-12 Months) The bull market could potentially extend, with the possibility of reaching new all-time highs driven by strong market sentiment, technological advancements, and broader market recovery. Long-Term Bull markets in cryptocurrencies can last beyond a year, influenced by major events, adoption, and technological progress. Continuous monitoring of key support and resistance levels, along with broader market trends, will be crucial. Conclusion The current bull market for Solana shows strong potential for continuation, with key support levels at $130.13 and $99.47 providing crucial benchmarks. Breaking the $160.79 resistance level could signal further upside. Monitoring technical indicators like the moving averages, RSI, MACD, and enhanced volatility measures will provide valuable insights into the market's direction. Based on historical trends and current analysis, the bull market could last another 3-12 months. P.S. My scripts are free to download.
CRYPTO:SOLUSD
by TAS1TheActualSnail
Solana Hits Big Resistance and Drops to SupportGood Morning Traders, It's important to review price action on Solana because it is our fourth largest altcoin (excluding stables) and does lead much of our altcoin market now in this position. The inverse head and shoulders pattern is playing out thus far. Solana touched my $122 support precisely before bouncing and rounding the bottom of our right shoulder. The 200 day SMA helped to hold price for support. Price then exceeded our .618 Fib fan level which intersected with a level I had drawn at $145. This now becomes support. Price had attempted to move higher but there is great resistance ahead on both our price chart and the RSI chart below. Both charts show big areas of confluence that are acting as major resistance. If the bulls can get above these, we are then safe to tackle that neckline. Once broken, we should have a price target of $235-245 before more rest. Don't forget, holiday weekends often give crypto a big boost. With the 4th of July being a big holiday here in the U.S., I would not be surprised to see price movement float up over the long weekend. Stew
COINBASE:SOLUSDLong
by stewdamus
SOL : wait for buy Detailed Analysis of SOL/USDT Chart By AhmadArz📊 Key Levels and Zones Support and Resistance Zones: Support Zones: 118.69 - 120.00 USDT: This is the lower major support zone marked in red. 🔴 130.93 - 132.00 USDT: Another support zone where price action might find support. 🟢 Resistance Zones: 150.77 - 158.89 USDT: This is the first major resistance zone marked in red, with the grey shaded area indicating a potential supply zone. 🔴 170.02 - 175.60 USDT: This is a higher resistance zone indicating potential targets if the price breaks above the lower resistance. 🔴 Signal : 💲 Entry :136.65⬅️ Stop Loss : 130.93🔴 TP 1: 141.94 USDT 🎯 TP 2: 146.40 USDT 🎯 TP 3: 150.77 USDT 🎯 TP 4: 158.89 USDT 🎯 TP 5: 163.98 USDT 🎯 TP 6: 170.02 USDT 🎯 Trend Analysis Downtrend: The chart shows a general downtrend, with lower highs and lower lows being formed. 📉 Current Pullback: The price recently pulled back from the resistance zone around 150.77 USDT and is now testing lower levels. 🔄 Price Action Current Price: The current price is around 137.92 USDT, and it appears to be testing the minor support level at approximately 136.65 USDT. 🔍 Possible Rebound: If the price holds above the minor support level, it could attempt to bounce back and test the resistance levels again. 🔄 Potential Scenarios Bullish Scenario: Hold Above Support: If the price holds above the 136.65 USDT support, it might attempt a rebound towards the first resistance level at 150.77 USDT. 📈 Break Above Resistance: If the price breaks above 150.77 USDT, it can target higher levels, potentially reaching the subsequent take profit levels (TP 2 to TP 6). 🚀 Bearish Scenario: Failing Support: If the price fails to hold above the 136.65 USDT support, it could move down to the next support zone around 130.93 - 132.00 USDT. 📉 Further Downside: A break below the 130.93 USDT support could lead to a further decline towards the major support zone around 118.69 - 120.00 USDT. 🛑 Indicators and Patterns Candlestick Patterns: Observe for any bullish reversal patterns at support levels or bearish continuation patterns near resistance levels to gauge potential price movements. 🔍 Volume: Higher trading volumes near support or resistance levels can provide additional confirmation of potential breakouts or breakdowns. 📊 Conclusion The chart indicates critical support and resistance zones that can guide trading decisions. The next move will depend on the price action around the current support level at 136.65 USDT. Traders should look for confirmation signals to determine whether the price will rebound or continue its downward trend. ⚖️
Long
by ahmadarz
2
SOLANA is Bullish now & many Traders don't see it !!Hello! BINANCE:SOLUSDT SOLUSDT is in the ascending phase by the cup and handle. SOL is in a large C&H if it follows these pattern, the price will have a nice rally. ⭐The pattern increases the price by the amount of the measured price movement (AB=CD). ❗ Note that if the cup and handle is broken down with the power of descending candles, our analysis will fail. 🤑 Stay great my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Thank you and for more ideas ❤️like❤️ and 🌟follow🌟!
Long
by CobraVanguard
1