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Solanaanalysis

Solana ($SOL) Sell Orders and Potential Roadblocks Our previous analysis of Solana has proven to be quite accurate. The asset's price dipped into the $79-$86 support zone before buyers intervened, driving the price back towards $100. CRYPTOCAP:SOL is now contesting a resistance zone between $101.6-$108. Breaching this barrier could lead to encounters with sell orders in the $112.3-$117 range. Beyond this, the yearly high of $126 looms, potentially reachable if Bitcoin maintains its position above $45,000, considering the strong correlation between Bitcoin and altcoins. Should the market turn bearish, CRYPTOCAP:SOL could see its price fall back to the key buying zones at $79.1-$86, $73.1, and $61.8-$68.9.
COINBASE:SOLUSDLong
by DEXWireNews
Solana's Warning Signs: Brace for Impact as Market Signals DumpSolana is sizzling hot, but for the bulls, get ready for another descent. The next target is the $65-$53 support range. Despite remaining within the bullish trend channel, recent rejections at $127 (top of the channel) and $107 (midline – Blue line) suggest a probable visit to the bottom of the channel at $84. In the worst-case scenario, a break or breach of the channel's lower trendline may lead to Solana dropping to $68-$64. For those in short positions, exercising patience is crucial given the current range. Despite optimism about Solana outperforming ETH in the long run, its volatility is on par with ETH, and it's susceptible to Bitcoin's price movements. Brace yourself for potential fluctuations from February to April 2024.
Short
by MachiavelliTrader
3
Am I Right to Short Solana? Let's See! {07/Jan/2024My first trade analysis of 2024 on Crypto Currency. Educational Analysis says SOLUSD may move in this range for some time according to my technical. Broker - Binance This is not an entry signal. I have no concerns with your profit and loss from this analysis. Why this range? Because Solana Made a lot of gains last year 2023, May is a time to push down a bit and there will be a lot of liquidity. Although it is in an uptrend, the market may come down to collect sell-side liquidity and fill fair value gaps. Then shoots up to the new high. Let's see what this pair brings to the table in the future for us. Please check Comment section how it turned out for this trade. I HAVE NO CONCERNS WITH YOUR PROFIT OR LOSS, Happy Trading, Fx Dollars.
BINANCE:SOLUSDShort
by VishalBudhrani
3
Solana's Rocky Road: Navigating Challenges Amidst Market Trend Solana ( CRYPTOCAP:SOL ), often hailed as the "Ethereum Killer," has recently faced a tumultuous period marked by a significant price dip, sparking concerns among investors. As the broader cryptocurrency market experiences a sell-off, Solana's price has plummeted over 7% in the last 24 hours, dropping below $95. This Idea delves into the key factors contributing to Solana's recent challenges, explores its historical performance, and assesses the impact of recent market dynamics on its future prospects. The Current Landscape: In the midst of a positive trend in the overall crypto market, buoyed by optimism surrounding Bitcoin exchange-traded funds (ETFs), Solana stands out with its struggle to maintain stability. Despite the recent positive momentum, Solana's native cryptocurrency has seen a decline in value, casting a shadow over its performance in 2024. Whale Movements and Market Volatility: One of the contributing factors to Solana's price decline is the erratic behavior of cryptocurrency whales. Recent reports indicate that large amounts of Bitcoin and Ethereum were deposited into centralized exchanges, leading to increased market volatility. Solana, being part of this broader market movement, has experienced a notable drop in price, emphasizing its susceptibility to external factors. Investor Sentiment and Losses: Solana investors have not been spared from the recent downturn, experiencing losses as the altcoin slipped over 7% in the last seven days. Despite its impressive 600% year-to-date surge, Solana is still 64% off its all-time high price set in November 2021. This prompts investors to reassess their positions and raises questions about the altcoin's ability to regain its previous highs. Trading Volume and Market Cap: The dwindling trading volume, down nearly 17% to $2.8 billion in the last 24 hours, suggests a diminishing retail interest in Solana. As the fifth-largest cryptocurrency by market capitalization, Solana's market cap has fallen to $40.5 billion, underlining the need for a comprehensive analysis of the factors influencing its market standing. Stability Concerns and Scaling Issues: While Solana gained popularity as a faster and more cost-effective alternative to Ethereum, it faces its own set of challenges. The network's notable outages and scaling issues from the previous year have highlighted its vulnerability. Solana's inability to process transactions without going offline poses a significant hurdle, prompting stakeholders to reevaluate its status as the "Ethereum Killer." Conclusion: Solana's recent struggles underscore the complexity of the cryptocurrency market, where a confluence of factors can impact an asset's value. As investors navigate through market turbulence, Solana must address its stability issues and scaling challenges to regain confidence.
COINBASE:SOLUSDLong
by DEXWireNews
SOLANA And the Full Picture ( More informative chart )Hi Everyone; today we have one of the best risk to reward Investment opportunity it is more than 1000 times the risk and the chart is look very promising. I expect breaking the previous bear market key point will clear the way to the final target Note: this not the right time to jump on the project, I am just showing the full picture for Solana for the current market Cycle (where it was and where it going) good luck everyone.
BINANCE:SOLUSDLong
by AlQasim_Analysis
3
I anticipate a rise in SOL to $160 following the consolidationHello everyone! Congratulations to all on the upcoming new year! I wish you and your loved ones health, prosperity, and success! Now, let's move on to the idea. I suggest considering entering a position on SOLANA either at the current values or by placing buy orders around $100-101. This is a good quote in terms of the round value of $100, so many people are buying the asset in this area, as can be seen on the chart. Additionally, there is a Fibonacci level of 0.236 in this area, and you can see how the price reacts to this zone of interest on the chart. The expected profit is 42-58%. Place sell orders from $150 to $160. This is not financial advice; everything you do is at your own risk!
Long
by neverovv
3
Solana Maxis. This is for youCRYPTOCAP:SOL has seen massive price movements yesterday, coupled up with massive whale activity (see whale alert) Looking at technicals. Weekly to Daily Timeframe: A clear up trend On the 4 hour, we are seeing retracements (Liquidity grab) nearing the weekly S&R. 1) I am looking at a resist turned support, with breakout on 106.58 (1 hour timeframe to place scalp entries) 2) If candles break below 97.90 and forms resist on 93.70, i will place shorts till 80.70 On the overall however, Solana Dev community has been working tirelessly, creating amazing stuff. Im personally bullish about Solana and will HODL the coins till SOL - breaks 1000.
Long
by lesnermj
1
Is it time for short Solana(SOL)? Analysis of price momentumEach spike can target 102% to 132% if momentum is maintained. Currently, X has reached the target of 102, in general, the supply is increasing sharply between the range of 102 to 132 percent. But we have another confirming factor which is the daily pivot supply area For this reason, it is possible to short solana with a loss limit above the daily supply area. Considering that we have hit the daily supply area, the TP can be 3 to 5 times the daily ATR, which is 1.7 and 2.7 times for our trade, respectively.
Short
by Thisis_crypto
An Opportunity for Buyers as DEX Volume Skyrockets Fuel Growth Are you ready to ride the wave of Solana's remarkable resurgence in the world of decentralized finance (DeFi)? Recent developments on the Solana network paint a compelling picture for potential investors, signaling a golden opportunity to capitalize on the platform's thriving ecosystem. 1. Explosive Growth in DEX Volume: Solana's largest decentralized exchanges have witnessed an astounding tenfold increase in liquidity since October 17. According to Dune Analytics and DeFiLlama data, December's decentralized exchange (DEX) volume on Solana has surpassed the previous monthly high, nearly tripling the figures from November. This surge comes hot on the heels of two substantial airdrops, with another one looming on the horizon. 2. Closing the Gap with Ethereum: Solana, once seen as a distant contender, is now narrowing the gap with DeFi's mainstay, Ethereum. December saw Solana's DEXs outpacing Ethereum's in certain week-long periods, a significant feat considering Ethereum's historical dominance. In the past seven days alone, Solana's DEX volume surged by 26% to approximately $5.8 billion, positioning itself as a formidable player alongside Ethereum. 3. Airdrops as Catalysts for Growth: The recent success of Solana's DeFi can be attributed in part to sizable token airdrops from prominent protocols like Pyth and Jito. These airdrops, amounting to millions of dollars, injected vitality into the ecosystem, resembling DeFi's equivalent of stimulus checks. Jito, in particular, faced challenges from sybil abusers, leading to the implementation of robust anti-sybil measures to ensure fair distribution. 4. Jupiter Aggregator's Role: A significant portion of Solana's recent DEX trading volume flowed through the Jupiter aggregator, emphasizing its crucial role in optimizing prices with minimal slippage. Notably, Jupiter has announced its plans to launch its token, with 40% earmarked for a community airdrop. This move aligns with a proven strategy, as seen in Ethereum's DEX volume growth following a Uniswap airdrop in September 2020. 5. Liquid Staking and Recent Developments: While DEX interest soared, liquid staking on Solana experienced a temporary slowdown. A Dune Analytics dashboard indicates a slight decrease in the total amount of Solana staked in the past week. Jito, the second-largest liquid staking protocol, witnessed five straight days of cumulative outflows, suggesting a shift in investor behavior. In conclusion, Solana's DeFi ecosystem is not only rebounding but thriving, presenting a compelling opportunity for potential buyers. The combination of surging DEX volume, successful airdrops, and strategic initiatives like the Jupiter aggregator and upcoming token launch makes Solana a dynamic force in the ever-evolving world of decentralized finance.
COINBASE:SOLUSDLong
by DEXWireNews
SOLUSDT.1DBased on the provided market data, the SOL currency currently has a price of $108.76 against USDT. Looking at the 4-hour timeframe, the Relative Strength Index (RSI) is at 50.16, which is neutral, indicating that the market is neither overbought nor oversold. The Moving Average Convergence Divergence (MACD) is 2.33, showing a bullish trend. The Bollinger Bands (BB) are at 122.78, suggesting that the market volatility is relatively high. The support levels are at $93.20, $72.67, and $61.69, while the resistance levels are at $127.91, $155.71, and $172.00. In the daily timeframe, the RSI is at 88.03, which is considered overbought and could indicate a potential price correction. The MACD is 13.27, which shows a strong bullish trend. The BB is at 126.20, indicating high market volatility. The support levels are at $84.26, $51.26, and $35.40, while the resistance levels are at $142.20, $205.00, and $254.00. On the 7-day timeframe, the RSI is at 155.00, which is extremely overbought and could suggest a significant price correction in the near future. The MACD is 17.78, showing a strong bullish trend. The BB is at 155.00, indicating high market volatility. The support levels are at $44.06, $21.26, and $17.71, while the resistance levels are at $145.00, $263.00, and $330.00. In conclusion, based on the above analysis, the SOL currency is showing strong bullish momentum in the short term. However, the high RSI values on the daily and 7-day timeframes suggest that the market is currently overbought, which could lead to a potential price correction. Therefore, it could be a good strategy to wait for a potential price dip before entering a long position. Please note that this is just an analysis based on the given data and not financial advice. Always do your own research and consider your financial situation before investing in cryptocurrencies.
by MarsSignals