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SOL Solana Invest Or Trade - Technical Analysis and Trade IdeaIn this video we cover two SOL (Solana) options, an entry point if you are looking to dollar cost average in as an investor, and a scalping and or intraday trade idea if you are looking to trade this. As always the video covers my trade entry points my opinion in terms of the trend, market structure and price action, and as always this information is educational in nature and not to be construed as financial advice.
Long
by fxtraderanthony
Solana (SOL) Breakout Signals Major Upside PotentialSolana (SOL) has emerged as a formidable player in the cryptocurrency space, boasting superior transaction speed, low fees, and remarkable scalability. These attributes position Solana as a leading candidate for substantial growth, setting it apart from other similar coins. Technical Analysis: The daily chart of Solana reveals a significant bullish development. On May 15, 2024, Solana experienced a breakout from a consolidation box, a move confirmed by the FCT (Box Breakout) indicator. This breakout is a robust signal of increased buying pressure and potential for further gains. Additionally, Solana is trading comfortably above both the 24-day and 150-day moving averages, underscoring the prevailing bullish trend. Key Technical Indicators: Breakout Date: May 15, 2024 Indicators Used: FCT (Box Breakout), 24-day Moving Average, 150-day Moving Average Current Price Level: Above 24-day and 150-day moving averages Trend: Strong bullish momentum Price Target: Given the current technical setup and market sentiment, we anticipate Solana's price to reach the $250 to $275 range per coin in the near term. This target is derived from the measured move of the breakout and the strong underlying fundamentals supporting Solana. Investment Thesis: Transaction Speed and Scalability: Solana can process up to 65,000 transactions per second (TPS), far exceeding the capabilities of many other blockchain platforms, including Ethereum. This speed, coupled with low transaction fees, makes Solana an attractive option for developers and users alike. Innovative Technology: Solana’s unique Proof of History (PoH) mechanism, which works in conjunction with Proof of Stake (PoS), enhances its scalability and efficiency. This technological edge provides a strong foundation for long-term growth. Ecosystem Growth: Solana’s ecosystem is rapidly expanding, with an increasing number of decentralized applications (dApps) and projects being built on its platform. This growth fosters network effects and adds intrinsic value to the SOL token. Institutional Interest: Solana has been attracting significant institutional interest, further validating its potential and providing additional liquidity and stability to the market. Recent Developments: Breakout Confirmation: The breakout from the consolidation box on May 15, 2024, marks a critical turning point. The FCT indicator's confirmation adds credibility to this move, suggesting sustained upward momentum. Moving Averages: Trading above the 24-day and 150-day moving averages highlights strong buying interest and investor confidence in Solana’s long-term prospects. Price Projections and Risk Management: Short-Term Target: $250 - $275 per coin Support Levels: Initial support around $180 (previous resistance turned support) Risk Management: Investors should consider placing stop-loss orders below the $180 support level to manage potential downside risk. Chart Analysis: The chart illustrates Solana’s breakout and current trading levels above key moving averages. The annotated chart also highlights the consolidation box and the breakout point, providing a visual representation of the bullish setup. Conclusion: Solana’s combination of innovative technology, rapid ecosystem growth, and strong technical indicators make it a compelling investment opportunity. The recent bullish breakout and sustained trend above critical moving averages point to further upside potential. Investors looking to capitalize on this opportunity should consider Solana for their portfolios, targeting the $250 to $275 range per coin. Stay tuned for further updates and happy trading! Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research and consider your risk tolerance before making investment decisions.
Long
by fardycurry
SOLUSDT Anticipated Return to Previous All-Time Highs Imminent!!After a sustained period of growth followed by a healthy retracement,SOLUSDT is gearing up for a significant upward movement. Market indicators suggest that the cryptocurrency has undergone a necessary correction, setting the stage for a resurgence towards its previous all-time highs. With investor sentiment buoyant and technical analyses signaling bullish momentum, SOLUSDT appears poised to reclaim its former glory and potentially surpass previous ATH levels. SOLUSDT (1D Chart) Technical analysis SOLUSDT (1D Chart) Currently trading at $137 Buy level: Above $132 Stop loss: Below $105 TP1: $150 TP2: $175 TP3: $210 TP4: $260 Max Leverage 2x Always keep Stop loss Follow Our Tradingview Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts
Long
by GreenCryptoTrades
Solana Surges in Profitability, Outpacing Ethereum for the FirstIn a significant development for the cryptocurrency landscape, Solana (SOL) has emerged as a more economically profitable blockchain than Ethereum (ETH) for the first time ever. This news comes amidst a strong year for SOL, which has significantly outperformed Ethereum in terms of price gains as well. Solana's Profitability Milestone On-chain analyst Leon Waidmann reported this milestone, highlighting a chart that depicts the total economic value (TEV) of both Solana and Ethereum over a specific period. TEV considers transaction fees and Maximum Extractable Value (MEV) to determine the overall economic profitability of a blockchain. This suggests that Solana's network activity is currently generating more economic value for its validators compared to Ethereum. This newfound profitability is likely due to Solana's key advantage: its blazing-fast transaction speeds and significantly lower fees compared to Ethereum. These factors have attracted a surge in user activity on the Solana blockchain, leading to a rise in transaction fees and MEV. Ethereum's Challenges Ethereum, the dominant smart contract platform, has been plagued by scalability issues for some time. The network often experiences congestion, resulting in high gas fees that can deter users and developers. While Ethereum is undergoing upgrades to address these issues, the process is ongoing. Solana's Price Performance Solana's economic momentum translates well to its price performance in 2024. SOL has significantly outpaced Ethereum in terms of returns year-to-date. As of May 20, 2024, Ethereum has delivered a respectable 31.5% return for investors. However, Solana has surged by an impressive 61.5%, currently trading comfortably above the $160 support level. This price surge reflects growing investor confidence in Solana's potential. The faster transaction speeds and lower fees make Solana a more attractive platform for developers to build decentralized applications (dApps) upon. Additionally, the increasing adoption of DeFi (decentralized finance) protocols on Solana further fuels its growth. Looking Ahead Solana's newfound profitability and strong price performance mark a significant development in the ongoing competition within the blockchain space. While Ethereum remains the industry leader in terms of market capitalization and established dApps, Solana poses a serious challenge with its superior scalability and lower costs. The coming months will be crucial in determining the long-term trajectory of both platforms. Ethereum's success hinges on the successful implementation of its planned upgrades. Conversely, Solana will need to maintain its network stability and attract a wider range of high-quality dApps to solidify its position. Investor Considerations The recent developments highlight the importance of considering both economic factors and price performance when evaluating cryptocurrencies. While Ethereum boasts a larger ecosystem, Solana's recent surge in profitability suggests it could be a more lucrative investment for validators. Investors with a long-term perspective should consider the potential of each platform to overcome its current challenges. Ethereum's established network may prove more resilient in the long run, while Solana's faster and cheaper transactions could attract a broader user base. Ultimately, diversification across these leading blockchains might be a prudent strategy for investors seeking exposure to the ever-evolving cryptocurrency landscape.
COINBASE:SOLUSDLong
by bryandowningqln
2
SOLUSDT / SOLANA USD SPOT Money Heist PlanMy Dear Robbers / Traders, This is our master plan to Heist SOLUSDT based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart. Our target is Red Zone that is High risk Dangerous level market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level, Once it is cleared we can continue our heist plan to next new target. support our robbery plan we can easily make money & take money 💰💵 Join your hands with US. Loot Everything in this market everyday.
by Thief_Trader
1
SOLUSDT / SOLANA USD SPOT Money Heist Plan My Dear Robbers / Traders, This is our master plan to Heist SOLUSDT based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart. Our target is Red Zone that is High risk Dangerous level market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level, Once it is cleared we can continue our heist plan to next new target. support our robbery plan we can easily make money & take money 💰💵 Join your hands with US. Loot Everything in this market everyday.
by Thief_Trader
Price and time analysis of Solana, Structure of Wave BHello dear friends, I hope you're doing well. As you can see, Wave A has completed, and we're now inside Wave B. The structure of Wave B closely resembles Wave 4, with the difference being a throw-over. Typically, it moves within a pattern like a triangle or a sideways range. In this wave, the likelihood of a fake breakout is high. Essentially, it's a wave of deception. I hope you find this beneficial. ---------------- (As you can see, in Wave 4, the price moves within a triangle or sideway.) ---------------- Time analysis: March 30th is a very important day. The period until April 13th is likely to be the last bearish days for Solana. I take a short position from 190$ area. My final target is 120~110. I'd be happy to share your opinion with me. Your likes, follows, and comments give me energy.
Short
by Sadegh_Sh
59
Long SolanaTraders, As you know, I have restarted my signals subscription. My followers and I have done very well since the restart. But I don't want to forget about all of my TV followers. So, from time to time I do not mind throwing out a freebie. Here's my case for going long Solana here to $300. #1 - As indicated in the weekend video update, there are multiple indications that our pullback in the U.S. stock market is over for now. Blow-off top to continue. #2 - Bitcoin will not be held down. And as it pertains to our Solana chart: #3 - Solana has hit .618 fib fan retracement #4 - Double bottom held. #5 - Back above the 100 day SMA #6 - RSI downtrend broke #7 - Green RSI support held #8 - Hidden Bullish Divergence on RSI #9 - Awesome Oscillator on the rise! My target will be 2x the current price (so, $300) for a rrr of 3.25. This will be a longer-term swing. It may take a month. It may take the rest of the summer. Unknown.
COINBASE:SOLUSDLong
by stewdamus
2
Solana Surges: Can It Break Past $204 Resistance?Solana (SOL) has defied the recent crypto market slump, surging nearly 15% and reclaiming the crucial $150 resistance level. This positive momentum has analysts excited about the possibility of further gains, with $204 emerging as the next key hurdle to overcome. Breaking Through Resistance The recent SOL price increase follows a period of consolidation. After finding support around $138, Solana staged a breakout above the $150 resistance level. This bullish signal is further bolstered by the price now trading above the 100-hourly simple moving average, an indicator often used to gauge short-term momentum. Technical Analysis Paints a Bullish Picture Technical indicators on the hourly chart add weight to the bullish sentiment. The SOL/USD pair successfully breached a key bearish trend line with resistance at $148. This breakout suggests a shift in market control from sellers to buyers. Analysts believe that if SOL can maintain its position above $158, a clear path towards the $165 resistance zone opens up. Recent Developments Fueling Optimism Several recent developments are likely contributing to Solana's positive price movement. The highly anticipated launch of staking on Robinhood, a popular trading platform, has undoubtedly boosted investor confidence in SOL. Staking allows users to earn rewards for holding their crypto assets, making SOL a more attractive investment option. Furthermore, Solana's continued focus on innovation with the introduction of its new Liquidity Layer is another factor generating excitement. This layer aims to improve decentralized exchange (DEX) functionality on the Solana blockchain, potentially attracting more users and developers to the platform. Challenges on the Horizon Despite the current bullish outlook, some analysts remain cautious. Overcoming the $165 resistance level will be a significant test for SOL. If the price fails to hold above $158 and falls back below $150, it could indicate a potential reversal in the uptrend. Moreover, the broader cryptocurrency market remains volatile. A significant downturn in Bitcoin (BTC) or Ethereum (ETH), the leading cryptocurrencies, could trigger a sell-off in SOL, even if its own fundamentals remain strong. Looking Ahead Solana's recent surge is a welcome sign for investors who believe in the project's long-term potential. The successful break above $150 and the positive technical indicators suggest that the momentum is currently with the bulls. However, the $204 resistance level presents a significant challenge. Close attention should be paid to whether SOL can maintain its gains above $158 and how the broader cryptocurrency market performs. If these factors align, there's a good chance Solana could continue its upward trajectory and establish a new price floor above the current resistance level. Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please consult with a financial professional before making any investment decisions.
COINBASE:SOLUSDLong
by bryandowningqln
1
Solana SOL Update: Bullish Breakout or Bearish Retreat?As I have reported out yesterday, technically Solana is trading in the "no man's land" and can move in either direction. A bullish move towards and a break-out of $165 will push SOL towards $205 and, possibly, higher. Below $165 , risk of bearish move towards $131 is still there and, if $131 is broken to the downside, we can see a further bearishness to $113. Note, as long as Solana is trading between $131 and $165, the price action will be slow and choppy.
by Trade-Lean
1
Solana Price Puzzle: $165 Breakout or $131 Plummet?Solana is trading in the middle of the daily range zone between $131 and $165, where (1) it can move from in either direction and (2) the price action is expected to be slow and choppy. A bullish break-out of $165 will push SOL towards $205 and, possibly, higher. It is yet to make a higher high relative for the most recent swing and until then there is a a risk of bearish move towards $131 and, if broken to the downside, lower to $113.
by Trade-Lean
1
Solana Slides on FTX Liquidation, Open Interest DropsSolana ( CRYPTOCAP:SOL ) has experienced a drop in price due to renewed concerns over FTX liquidation, leading to a decrease in trading activity and a significant drop in open interest. The token, known for its high speed and low fees, has shown resilience amid the ongoing FTX bankruptcy. However, the price has dropped due to renewed concerns over FTX liquidation, resulting in a decrease in derivatives trading volume and a 5.53% drop in open interest. In the last 24 hours, Solana ( CRYPTOCAP:SOL ) witnessed $7.61 million in total liquidations, with long positions accounting for $4.7 million and short positions for $2.91 million. Long-short ratios on Binance and OKX indicate traders' optimism about a potential rebound, while technical analysis shows bullish signals. Solana's technical indicators show a predominantly bullish sentiment, with both the 10-day Exponential Moving Average (EMA) and the Simple Moving Average (SMA) signaling buy. However, longer-term moving averages, including the 30-day EMA and SMA, indicate potential resistance at higher levels. Oscillators are generally neutral, with the Relative Strength Index (RSI) at 48.35 indicating neither overbought nor oversold conditions. Technical indicators reflect current market sentiment rather than predicting future movements. Solana ( CRYPTOCAP:SOL ) has been battling ongoing congestion issues, largely caused by increased DEX volumes. Understanding Solana's technicals provides insight into the market's reactions to SOL's FTX sales, which is crucial for both traders and investors in the SOL ecosystem.
COINBASE:SOLUSD
by DEXWireNews