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Solanausdt

SOL (Solana): Descending TriangleTrade setup : Price has regained 200-day moving average, which is a sign of long-term Uptrend. Swing Traders: we would be buyers on pullbacks near $125-$135 support, which could be an attractive swing trend entry, with +30% upside to $160. Stop Loss (SL) level at $110. Trend Traders: wait for a breakout from Descending Triangle, ideally above $160 resistance, which could be followed by an upswing to $200. Pattern : Price is trading in a Descending Triangle pattern. Typically, a breakout will occur in the direction of the existing trend. Most traders will take a position once the price action breaks through the bottom line of the triangle with increased volume, which is when the price should decline an amount equivalent to the widest section of the triangle. Learn to trade chart patterns in Lesson 8. Trend : Short-term trend is Strong Up, Medium-term trend is Neutral and Long-term trend is Neutral. Momentum : Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70). Support and Resistance : Nearest Support Zone is $125.00, then $100.00. Nearest Resistance Zone is $160.00, then $200.00.
Long
by altFINS
Solana Surges: Price Breaks Resistance, Eyes Higher GroundThe price of Solana (SOL) has embarked on a notable upward trend, surpassing the key resistance level of $135 against the US Dollar. This bullish momentum has instilled optimism in investors, suggesting the potential for further gains in the near future. Breaking Through the $135 Barrier Previously, the $135 mark had acted as a significant hurdle for SOL. However, recent buying pressure has propelled the price past this resistance, signifying a potential shift in market sentiment. This breakout indicates increased investor confidence and could pave the way for a sustained price increase. Technical Indicators Bolster the Bullish Outlook Technical analysis, which utilizes historical data and price charts to predict future movements, strengthens the bullish case for Solana. One key indicator is the 100-hourly Simple Moving Average (SMA). The price currently sits above this average, implying an upward trend. Additionally, the formation of a bullish trend line on the hourly chart, with support at $138, provides further technical validation for the ongoing price surge. Potential for Continued Price Increases Analysts are cautiously optimistic about the potential for SOL to extend its upward trajectory. Some projections suggest the price surpassed the $145 resistance level. However, it's important to remember that the cryptocurrency market is inherently volatile, and unforeseen events can trigger price corrections. Factors Fueling Solana's Rise Several factors are likely contributing to Solana's current bullish run. Here's a look at some of the potential drivers: • Growing Adoption of DeFi Applications: Decentralized Finance (DeFi) allows users to access financial services without relying on traditional intermediaries. Solana, known for its fast transaction processing and scalability, is increasingly being utilized for DeFi applications. This surge in adoption could lead to a higher demand for SOL tokens, driving up the price. • Upcoming Network Upgrades: The Solana development team is constantly working on improvements to the network. News or anticipation of upcoming upgrades could attract investors and contribute to the price increase. • Positive Sentiment in the Broader Crypto Market: If Bitcoin, the leading cryptocurrency, experiences a significant price increase, it often has a ripple effect on the entire crypto market, including Solana. Potential Challenges on the Horizon Although the current outlook for Solana is positive, there are still uncertainties to consider. For instance, increased regulatory scrutiny on cryptocurrencies by governments or a major security breach on a Solana-based DeFi platform could dampen investor confidence and trigger a price decline. Conclusion: A Cautious Optimism Solana's recent surge above $145 is a positive development for investors. Technical indicators and potential catalysts like DeFi adoption and network upgrades suggest the possibility of further gains in the near term. However, the cryptocurrency market remains unpredictable, and investors should exercise caution and conduct thorough research before investing in any cryptocurrency.
COINBASE:SOLUSDLong
by bryandowningqln
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
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
a complete roadmap for SOL coinWhat happened in 2021 is very similar to what is happening now A positive pattern forms after an accumulation period Then, after breaking and retesting, a bullish rally occurs Solana is one of the largest projects ever and you deserve to own a part of it in your portfolio Entering now is a good decision, even if you are corrected a little with u Breaking the $200 resistance on the weekly frame will create a huge bullish rally for Solana best regards ceciliones🎯
by ceciliones
5
VanEck Seeks First-Mover Advantage with Solana ETF FilingVanEck, a leading innovator in the exchange-traded fund (ETF) space, has made a strategic move to capitalize on the growing popularity of Solana by filing an application with the Securities and Exchange Commission (SEC) to launch the first-ever Solana ETF in the United States. This filing, announced on June 27 via the X platform, signifies VanEck's commitment to expanding its cryptocurrency investment offerings and reflects the company's belief in the potential of the Solana blockchain. The proposed ETF, named the VanEck Solana Trust, aims to directly track the price performance of Solana (SOL), a prominent cryptocurrency known for its high transaction speed and scalability. According to the preliminary prospectus filed with the SEC, the Trust will achieve this by directly holding SOL tokens in its reserves. These tokens will then back the shares issued by the VanEck Solana Trust, essentially offering investors indirect exposure to Solana's price movements. The listing venue for the VanEck Solana Trust is planned to be the Cboe BZX Exchange, a prominent platform for trading exchange-traded products. This selection indicates VanEck's intention to provide investors with a familiar and well-established marketplace for accessing Solana exposure through a traditional ETF structure. This filing by VanEck holds significant implications for both the company and the broader cryptocurrency market. Here's a closer look at the potential impact: For VanEck: • First-Mover Advantage: By positioning itself as the first applicant for a Solana ETF in the US, VanEck has the potential to capture a significant share of the market if the SEC approves the filing. This could attract investors seeking convenient and regulated exposure to Solana without the complexities of directly acquiring and managing cryptocurrency tokens. • Diversification of Crypto Offerings: The VanEck Solana Trust filing represents the company's continued expansion into the cryptocurrency asset class. With existing offerings like the VanEck Bitcoin Strategy ETF (VBIO) already in the market, VanEck demonstrates its commitment to providing investors with a range of options for participating in the digital asset space. For the Crypto Market: • Increased Investor Adoption: A SEC-approved Solana ETF could significantly increase mainstream investor adoption of Solana. ETFs offer a familiar, regulated investment vehicle, potentially attracting those hesitant to directly engage with cryptocurrency exchanges. This broader investor base could bring increased liquidity and stability to the Solana market. • Validation of Solana: The SEC's potential approval of the VanEck Solana Trust would serve as a significant validation of the Solana blockchain's technology and its potential for real-world applications. This recognition from a traditional financial institution could further bolster confidence in the Solana ecosystem. However, it's important to acknowledge some key considerations: • Regulatory Hurdles: The SEC has historically taken a cautious approach towards approving cryptocurrency ETFs. The VanEck Solana Trust will need to meet the SEC's stringent regulatory requirements before it can be launched. The approval process could be lengthy and uncertain. • Market Volatility: The cryptocurrency market remains highly volatile. Investors considering the VanEck Solana Trust should be prepared for significant price fluctuations in the underlying SOL token, which will directly impact the value of their ETF shares. In conclusion, VanEck's application for the first US-based Solana ETF marks a significant development for both the company and the cryptocurrency market. If approved, the VanEck Solana Trust could pave the way for wider investor adoption of Solana and further validate the potential of this innovative blockchain technology. However, investors should be aware of the regulatory hurdles and inherent price volatility associated with cryptocurrency investments.
CRYPTO:SOLUSD
by bryandowningqln
Detailed SOL Technical AnalysisLet's dive deeper into the technical analysis of the SOL/USDT chart. We will analyze each aspect of the chart in greater detail, including support and resistance levels, trend lines, moving averages, and price action. The price of SOL is currently trading at $147.76.The sol breaks its resistance level at $138.01 and now makes its support. After rejection from the trend line and resistance zone(Pink) at $167.65 - $175.42 it falls at the support zone (Green) at $113.72 – $126.94 and now bounces from here. The price has been trading on the EMA 200 (Black) is showing a bullish trend. Support and Resistance Levels Support and resistance levels are crucial in technical analysis as they indicate potential price reversal points. Support Zones (Green) $113.72 - $126.94 This level has previously acted as a strong support, where buyers have consistently stepped in to prevent the price from falling further. Support Level at $99.62 This is another critical level where buying pressure might re-emerge if the price falls below the major support. Support Zone (Yellow) at $75.11 - $79.81 This yellow zone represents a strong support area, providing a cushion if the price experiences a significant decline. Support Level at $138.01 This level is the current support. The price could retest this level. Resistance Zone (Pink) at $167.65 - $175.42 This zone indicates a significant resistance that could pose a challenge if the price moves higher. Resistance Zone (Blue) at $199.65 - $212.99 This zone marks a significant resistance area where the price previously faced strong selling pressure. Exponential Moving Averages The price is currently above the 200 EMA, which is a long-term bullish signal. The 200 EMA often acts as dynamic support or resistance, and trading above it suggests that the overall trend is positive. Descending Trend Line The trend line from the recent high indicates a downward slope, representing a resistance trend line. This trend line could act as resistance if the price approaches it again. Price Action Recent Movement Currently, the price is trading at $147.46 at the time of writing. The price has bounced off the major support zone (Green) and EMA 200. Now the price breaks out from the $138.01 level. Volume Analysis At the time of writing the trading volume is at 3.622M, indicating significant trading activity and interest at the current price level. Observations - Currently, the price breaks the $138.01 resistance level and makes it a support. - If the price holds above this level, it could trigger a bullish run towards the next resistance zone(Pink). - If the price fails to hold this support, it could fall back towards the support zone(Green). Potential Scenarios There are 2 scenarios Bullish Scenario If it holds the support level at $138.01, we could see the price targeting the next zone(Pink) and the trend line. If the bullish momentum continues and breaks above from Pink zone and the trend line, we could see the price will reach a higher resistance zone in Blue. Bearish Scenario If the price fails to hold the $138.01 support, it could fall back to the support zone in Green. If the price breakdown from the major support zone Green could lead to a further decline toward the support at $99.62 and possibly it could break down further to the next support zone in Yellow. The last zone is marked on the chart. Technical Indicators Based on technical indicators on a daily time frame The relative Strength Index (RSI) value is at 51.32 (Neutral) Momentum is at 4.45 signaling a (Buy) MACD Level (12, 26) is at -6.04 signaling (Buyl) Exponential Moving Average (50): 150.60 (Sell) Exponential Moving Average (100): 148.58 (Sell) Simple Moving Average (100): 159 (Sell) Exponential Moving Average (200): 130.40 (Sell) Ichimoku Base Line (9, 26, 52, 26): 148.80 (Neutral) Volume Weighted Moving Average (20): 141.98 (Buy) Hull Moving Average (9): 139.71 (Buy) Interpretation The oscillators are neutral, and the moving averages' strong buy signals suggest that the overall sentiment for SOL/USDT is bullish, with an expectation of upward price movement in the near term. This could be an opportune moment for traders to consider entering a buy position, while also being cautious and monitoring for any shifts in market sentiment. Conclusion The overall technical analysis for SOL/USDT suggests a neutral sentiment with mixed signals from oscillators and moving averages.
Long
by TheCryptoCity
Solana - TWO Bearish IndicationsSolana has lost a longstanding trendline that acted as support since October 2023. The price has been unable to bounce back, and we're seeing a steep decline as bears are outweighing buyers: A Technical Indicator (which I use mainly to determine trend swings from a macro perspective) has just flashed SELL in the weekly timeframe. Now based on previous instances, this took us MUCH lower. These alerts happen in real time when a certain conglomeration of parameters are met (based on Strength, Trend, Averages, Real Time) and so naturally, the higher the timeframe the better the result: The only way we will be safeguarded against a steep incoming drop, is if the price can reclaim the green trendline in the Weekly Timeframe. From a candlestick analysis perspective, seeing Three White Soldiers in the daily could be a step in the right direction ( which is UP ). ____________________________ COINBASE:SOLUSD
COINBASE:SOLUSDShort
by CryptoCheck-
2