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Solanaanalysis

Solana Poised for $100 📈 🪙 Could Solana Be FTX's Lifeline? The cryptocurrency SOL, once championed by Sam Bankman-Fried of the now-bankrupt FTX exchange, has witnessed a remarkable rise, currently priced around $75. At the start of 2023, its cost was approximately $14, indicating an increase of over five times. Additionally, the Solana blockchain ecosystem has expanded considerably, with a total value locked (TVL) that briefly hit $1 billion today, as per DefiLlama's data. (defillama.com) 🛑CoinGecko reveals (www.coingecko.com) that FTX's SOL holdings are at 55.8 million, with 42.2 million of these locked. Initially valued at $1.16 billion, these assets have now ballooned to over $4,2 billion, potentially offering FTX a significant opportunity to settle its claims.
COINBASE:SOLUSDLong
by DEXWireNews
Confluence / Best Fit Theory I've always had a strategy of using horizontal support and resistances as well as finding a downwards and upwards trendline that can be duplicated and still hit multiple swing points amongst different timeframes. Think of it as angled supports/resistances. After having all these lines on the chart you can quickly see how often the various crosses act as a magnet for the price, but the lines create too much "noise", so I decided to turn my lines into channels. I then noticed the areas where the different zones crossed stuck out even easier and decided to mark them with circlesm After all the rough marks I thought it'd be interesting to plot a rough line trying to stay near the middle of each "column" treating the circles as a magnet for price. I'll update as time rolls on, but I think there's enough here to make this a pretty decent strategy!
Long
by brettjessen
1
SOL → Solana At Resistance! Will We Reverse? Or Pulling Back?Solana is at a key resistance level from what used to be Support in March of 2022. This resulted in a hard selloff throughout the crypto market, leaving us wondering what comes next. Are we pulling back then continuing? Or are we heading back down to the $32 area? How do we trade this? 🤔 More price action is required to justify a market entry. Here's what we do have; a bull run with what appears to be the final leg up ending at a resistance level, an RSI over 70.00, and a massive bear signal to follow. These are the signs that the trend is about to change into a trading range then either a reversal or continuation. We need another failed attempt to break resistance to justify playing a reversal and we also need another show of support at the 30EMA or Support Zone to long. Until then, it's reasonable to stay on the sidelines until more price action plays out. 🔑 Key Takeaways 🔑 1. At Resistance Zone after 3 Pushes Up. Pullback Likely. 2. Aggressive Selloff at Resistance, Need More Price Action. 3. RSI Over 70.00, Supports Pullback or Reversal. 4. Look for support at bottom of Resistance Zone or 30EMA. 5. Wait to Enter Market, Need Clarity on the Next Moves. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
by TraderEngineering
Solana Closes Gap on Ethereum with Over $16M in NFT SalesSolana emerges as a formidable threat to Ethereum’s throne as the network looks to outshine it from different angles. Solana’s incredible performance this year has positioned the project as a formidable threat to Ethereum’s reign as the network turns heads with its on-chain and trading activity.  After successfully surpassing Ethereum in on-chain activity, Solana outshines its rival in another important metric, NFT sales.  Solana Outpaces Ethereum Ethereum has ruled the NFT industry for years with its trading volume, projects, user adoption, and more. However, considering its persistent issues like network congestion and rising fees, its dominance is proving fleeting as competitors like Solana close the gap.  Following Solana’s historic run this year, registering over 800% in gains and marking record DEX volumes and network transactions, the network surpassed Ethereum in NFT sales on December 9 after hosting over $16 million.  Bitcoin and Ethereum trailed closely behind with $13.4 and $11.4 million in sales, respectively. Although Solana remained the second-largest NFT protocol at the time of writing, its trajectory signals a credible threat to Ethereum’s throne. Solana’s success in the NFT sector aligns with investors and developers slowly warming up to the network and recognizing its potential. While the network is still miles behind Ethereum when considering historical data, Solana’s uprising could signal a massive shift in the industry’s market dynamics.  Why This Matters Solana overtaking Ethereum signals a potential shift in industry dynamics. Ethereum has long been the dominant force in the NFT sector, boasting high volumes, adoption, and sales. However, Solana is slowly closing the gap and giving the network a run for its money.
COINBASE:SOLUSD
by DEXWireNews
Potential future of SOLANA. Silver and NIO. Agree?It's just an interesting fractal that I think is plausible. Personally, I don't hold WHITEBIT:SOLUSDT and don't expect ATH to be updated in the new cycle. Technically, the project is unstable and looks more like a beautiful marketing. For example, WHITEBIT:EOSUSDT has much more advantages technically and is safer as an investment. TVC:SILVER and NYSE:NIO NIO's share are very similar. NIO is also a very beautiful marketing that has a lot of problems.
NYSE:NIO
by sholi_software
SOLUSDT Breakout Signals Strong Bullish Momentum.SOLUSDT shows upward movement post breakout and retracement, aiming for $80 target. Alternatively a potential dip to the Fibonacci .5 level might occur, with the rebound anticipated from that point. It is essential for traders to monitor the market closely and be prepared for both bullish and bearish scenarios. SOLUSDT (4h Chart) Technical analysis SOLUSDT (4h Chart) Currently trading at $61 Buy level: Above $60 Stop loss: Below $55 TP1: $64 TP2: $68 TP3: $70 TP4: $80 Max Leverage 5x Always keep Stop loss Follow Our Tradingview Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts
Long
by GreenCryptoTrades
4
SOLUSDT - SOLANA IdeaHey Traders.. No Comment!! BINANCE:SOLUSDT SOLUSD COINBASE:SOLUSD ⚠️ Disclaimer: The viewpoints shared represent my individual outlook on the market, based on publicly accessible information and historical data. While a portion of these opinions is influenced by my actual trades, others are not. It's important to note that I am not a financial advisor, and I do not assume any responsibility for the decisions you make in your trading activities. ✅ Feel free to share your inquiries or suggestions in the comments. I am more than willing to assess and analyze any cryptocurrency, forex currency pair, or stock index that piques your interest, so, Please don't hesitate to ask or mention the specific currency chart you'd like me to review.
Long
by Arash-RK
2
2028 SOL in 200USDPredicting the future value of any cryptocurrency involves numerous variables and uncertainties, making it a speculative exercise. However, I can outline a hypothetical argument for Solana (SOL) reaching $200 USD by 2028, taking into account potential factors such as the Federal Reserve's interest rate releases in 2024. 1. Technological Advancements: Solana is known for its high-performance blockchain, capable of handling a large number of transactions with low fees. If the development team continues to enhance and optimize the network, attracting more developers and projects, the technological advancements could contribute to the increased demand for SOL tokens. 2. Increased Adoption: As blockchain technology gains wider acceptance across industries, Solana's scalability and efficiency might position it as a preferred platform for various decentralized applications (DApps) and projects. Increased adoption often correlates with a rise in the value of the underlying cryptocurrency. 3. DeFi and NFT Growth: The decentralized finance (DeFi) and non-fungible token (NFT) sectors have shown significant growth in recent years. If Solana continues to establish itself as a leading platform for DeFi and NFT projects, it could experience increased demand for its native token, SOL. 4. Market Sentiment and Speculation: Market sentiment plays a crucial role in the cryptocurrency space. Positive developments, partnerships, and increasing interest from institutional investors can drive speculation and attract more investors to SOL. This increased demand could potentially drive up the token's value. 5. Macro-Economic Factors: The Federal Reserve's interest rate decisions can impact the broader financial markets. If the interest rates are maintained at lower levels or follow a more accommodative monetary policy, investors might seek alternative assets like cryptocurrencies for potentially higher returns, positively affecting SOL's value. 6. Improved Regulatory Clarity: Clarity in cryptocurrency regulations can foster a more favorable environment for investor confidence. If regulatory frameworks become clearer and more accommodating, it could attract a broader range of investors to Solana and the overall cryptocurrency market. 7. Ecosystem Development: The growth and diversification of the Solana ecosystem, including partnerships, collaborations, and the launch of innovative projects, can contribute to SOL's value appreciation. This is not a financial advice.
Long
by Mat_cl
Solana (SOL) Price Tanks 7% Amid FTX Cold Wallet TransfersSolana's price, though correcting, remains above crucial support at $59. We anticipate a swift recovery, pushing SOL to surpass $70. Amidst a period of mild consolidation across the wider cryptocurrency market, Solana (SOL), a prominent competitor to Ethereum Layer-1, is undergoing a notable price correction today. As of the latest update, the Solana (SOL) price has experienced a 7% decline, currently trading at $60.32, with a market capitalization of $25.5 billion. Why Is Solana Price Down? Solana has witnessed a massive price rally over the past month and so, becoming the sixth-largest cryptocurrency by market cap. The recent SOL price drop also coincides with a massive transfer taking place through an FTX cold wallet. In a recent development reported by Lookonchain, an address closely associated with the FTX cold wallet, identified as 4Axqyo…HswTAh, unstaked a significant amount of 1.5 million SOL (equivalent to approximately $90 million) today at 7:55 UTC+8. The entirety of this unstaked amount was subsequently transferred to the address 3vxheE5…5mgkom. According to Lookonchain, there is speculation that the receiving address, 3vxheE5…5mgkom, may be linked to Coinbase’s internal address. As we know, crypto exchange FTX has been holding a massive amount of Solana before its bankruptcy filing last week. Now, the exchange has been liquidating its holdings in order to repay the creditors. However, this hasn’t deterred Solana investors from embarking on a bullish price rally. SOL Price Action and DeFi TVL In the latest market update, SOL is currently quoted at $60.10, registering a 6.87% decline in the past 24 hours. Despite this minor setback, SOL has demonstrated resilience over the week, marking a 12.23% increase, and an impressive 46.84% surge over the last 30 days. Recent market dynamics reveal an unsuccessful attempt by the SOL price to breach the $65.3 mark. Moreover, the asset has recently dipped below the critical support level of $62.5. Analysts suggest that a potential bullish scenario could materialize if the price successfully breaks above $63.4, paving the way for a retest of the $65.3 resistance level. In the event of a bullish breakthrough, market observers anticipate a potential ascent towards the $79.1 level. Conversely, a dip below the $59 level could signal a downward trajectory, potentially testing the support level at $56.4. Investors and analysts are closely monitoring these key levels for potential market shifts. Cryptocurrency analyst Ali Martinez warns of potential correction for Solana! TD Sequential signals sell on CRYPTOCAP:SOL weekly chart, and RSI is overbought. A profit-taking surge could lead to a retracement to $47.6. SOL needs a weekly close above $68.4 to counter the bearish outlook, targeting $108. Moreover, Solana, renowned for its exceptional throughput and scalability, is making waves in the decentralized finance (DeFi) realm. The recent surge in Total Value Locked (TVL) to an impressive $655 million showcases Solana’s growing influence and confidence within the DeFi sector. This milestone not only reflects numerical success but also highlights Solana’s emergence as a formidable player in decentralized finance. While DefiLlama’s October statistics placed Solana’s TVL at around $326 million, a recent update reveals a remarkable doubling to over $655 million, marking the highest TVL in over a year and signaling robust and sustained growth.
COINBASE:SOLUSDLong
by DEXWireNews
SOL → Solana Double Top Reversal!? Are We Going to $40 or $80?Solana is struggling at Previous Resistance showing signs that a major reversal is near. If the price fails at this level and leaves a raging red bear candle, what does that mean for the next trade? How do we trade this? 🤔 There are two ways to handle this chart, short scalp or wait to long. We cannot long at resistance, the Risk/Reward AND Probability are all bad, best to wait for a pullback to the 30EMA and look for a bounce. The RSI is above the Moving Average, but also over 61.00 and given the other data points, is weak evidence to support a long position. It may be reasonable to short-scalp this chart with a 1:1 Risk/Reward Ratio, entering the market on a smaller timeframe of the 1HR or 4HR chart looking for a bear confirmation candle. Scalp to the $52.35 area then move your stop up to the entry price, take another profit somewhere below the Daily 30EMA or whenever you see a bull reversal bar. This trade has a lower probability on this chart because we technically don't have a bear confirmation candle, which is why I recommend playing a smaller timeframe for a scalp and maybe swing the rest. Wait on the sidelines for a long. The Alt market is still relatively weak even though Bitcoin is showing some nice bullish price action, so we really need bullish confirmation candles to justify entering the market. 💡 Trade Idea 💡 Short Entry: $61.50 🟥 Stop Loss: $69.65 ✅ Take Profit #1: $52.35 ✅ Take Profit #2: $45.20 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Breakout to Downside of Bull Channel, Bias to Short. 2. Bear Breakout, Watch for Sell Signal. 3. Potential Double Top at Previous Resistance. 4. Still Above 30EMA, Watch for Support. 5. RSI at 61.00, above Moving Average. Bias to Long. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Short
by TraderEngineering
2
Potential Breakout for Solana with Favorable IndicatorsI wanted to bring your attention to an exciting opportunity in the cryptocurrency market, specifically regarding Solana (SOL). Based on recent market analysis, it appears that SOL is poised for a potential breakout. Several key indicators suggest a favorable outlook for SOL's price movement. Firstly, the Relative Strength Index (RSI) is currently in a neutral position, indicating that the cryptocurrency is not overbought or oversold. This suggests a balanced market sentiment and potential room for upward movement. Additionally, the Commodity Channel Index (CCI) is in the upper band, further reinforcing the positive outlook for SOL. This indicates that SOL's price is trending higher than the average price over a given period, signaling potential bullish momentum. Furthermore, the moving average combination displays a buy signal for SOL. This combination of moving averages is widely regarded as a reliable indicator for determining market trends. In this case, the moving average combination indicates a potential upward movement for SOL's price. Considering these indicators, it is reasonable to conclude that SOL is presenting a compelling opportunity for investors. The combination of a neutral RSI, CCI in the upper band, and a buy signal from the moving average combo suggests a potential breakout shortly. I wanted to share this information with you, as I believe it could be of interest to you and align with your investment strategy. However, I encourage you to conduct your research and consult with your financial advisor before making any investment decisions. Should you have any questions or require further information, please do not hesitate to comment away. I am here to assist you.
Long
by bryandowningqln
SOL → Which Way Solana? Let's Answer That Question With a Chart.Solana is at a crucial decision point; fail to break resistance or rocket to the next level? Right now it's failing to get back into the bull channel, but hasn't yet broken to the downside. How do we trade this? If you're not already in a trade, wait to enter one! For a long, we need a test of Support at the 30EMA, or a break of the Previous Resistance line followed by a support test and confirmation. To short, we need a failed breakout attempt of Previous Resistance and preferably, a confirmation bear candle closing on or near its low below the 30EMA. Until then, let's see where the price action goes. FOMO (Fear of Missing Out) is your worst enemy. You're making more money by not falling for the seduction of market profit. Trade Idea Short Entry : $48.00 Stop Loss: $54.15 Take Profit: $35.70 Risk/Reward Ratio: 1:2 Long Entry : $73.00 Stop Loss: $107.00 Take Profit: $61.65 Risk/Reward Ratio: 1:3 Key Takeaways 1. Bull Channel, Bias to Long. 2. Bear Breakout, Watch for Sell Signal. 3. Still Above 30EMA, Watch for Support. 4. Do not Long until we break Previous Resistance. 5. RSI at 61.00, below Moving Average. Supports Short. You are solely responsible for your trades, trade at your own risk! If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
by TraderEngineering
1