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SOLUSD

SOLUSDTUnderstanding the Head and Shoulders Pattern in SOL/USDT What is the Head and Shoulders Pattern? The head and shoulders pattern is a classic technical analysis formation that signals a potential reversal in the trend. It consists of three peaks: a higher peak (the head) between two lower peaks (the shoulders). This pattern is often used by traders to predict a shift from a bullish to a bearish trend. Breakdown of the Pattern Left Shoulder: The price rises to a peak and then declines. Head: The price rises again to a higher peak, forming the head, and then declines once more. Right Shoulder: The price rises once more but to a peak similar to the first peak and then declines again. The neckline, drawn by connecting the lowest points of the two troughs, is a crucial support level. Once the price breaks below this neckline, it confirms the pattern and suggests a potential bearish move. Current Situation in SOL/USDT Solana (SOL) has recently completed a head and shoulders pattern and has broken below the neckline. This indicates a potential bearish trend reversal, making it an interesting short trade opportunity. Expected Returns If the head and shoulders pattern fulfills, traders could expect about an 8.35% return on this short trade. This return is calculated based on the height of the pattern from the head to the neckline, projected downward from the point of the breakout. Technical Analysis Insights Inverse Head and Shoulders Pattern: For context, the inverse head and shoulders pattern is the opposite and signals a bullish reversal. Currently, SOL's formation is a standard head and shoulders, indicating a bearish outlook 2. Support and Resistance: Key resistance levels are around $150.77 - $158.89, with significant support around $118.69 - $120.00 2. Risk Management Risk management is crucial in trading. Always use a stop-loss to limit potential losses. For this trade, setting a stop-loss slightly above the neckline can help manage risks effectively. Conclusion The head and shoulders pattern in SOL/USDT suggests a possible bearish trend with an 8.35% return on a short trade. As always, conduct your own research and consider your risk tolerance before making any trading decisions. Further Reading Technical Analysis Basics: For those new to technical analysis, understanding the basics can provide a solid foundation. Risk Management Strategies: Implementing effective risk management can help protect your capital in volatile markets. By understanding and utilizing these patterns and strategies, traders can better navigate the complexities of the cryptocurrency market. Note: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research before making any trading decisions.
Short
by XTradeSetup
1
SOL Analysis: Key Support at $122 & Bull Run ProjectionsSOLUSD is currently showing strong support at $122, providing an excellent opportunity for significant gains. If this support level holds, we could witness a notable upward movement. However, if the $122 support breaks, the next crucial support level lies at $84, from where a bounce is expected, especially with the approaching bull run in Q4 2024. Historically, bull runs bring high volatility and substantial price rises. This bull run is expected to follow the same pattern, with the market potentially peaking around March or November 2025. It is crucial to be prepared to exit the market around this time, as the bull run is likely to end then. Based on historical data and calculations, the minimum target for SOLUSD in this bull run is $7,385. If SOL can flip the $7,385 resistance by February 2025, we might see it reaching a maximum target of $9,464. During the previous bull run in 2021, SOL pumped from a bottom of $0.21 to a peak of $260, delivering an astonishing return of 121,295% between April 2020 and November 2021. The bear market began in 2022, consistent with historical patterns of price pumps during bull markets. We anticipate similar volatility in this bull run. Monitoring resistance zones and adjusting trades accordingly is crucial. Plan to exit long positions by March or November 2025 to capitalize on the bull run's peak. For more detailed analysis and updates, follow us on TradingView to stay informed about our latest trading ideas and insights. Make the most of our expert analysis to enhance your trading strategy.
CRYPTO:SOLUSDLong
by Houseofcryptokings
2
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
The time for the growth of cryptocurrencies is nearGreetings, Dear friends, I hope you are well and have had a week filled with successful and profitable transactions. My analysis text: "Cryptocurrencies and the Solana market are in the third wave, and of course, we witnessed very good growth. But currently, the fourth wave can be a zigzag pattern and it is not yet completed. It is expected to go below wave A once again, and then we will see the price action by the impulse pattern. Although the index of cryptocurrencies, in my opinion, if Bitcoin grows in its current market, then we are likely to see Solana grow, of course, this is in the second interest." Note: I am a new analyst in the world of wave principles with three years of experience, and I am developing an analytical idea. There is no 100% certainty in financial markets due to the complexity of various patterns that can change. However, I do my best to back up any analysis I share with you guys with everything I've learned so far. A brief explanation of the three fundamental laws of the wave principle: 1. The second wave should never go beyond the beginning of the first wave. 2. The third wave should never be the shortest wave between waves 1, 3, and 5. 3. The fourth wave must never enter the territory of the first wave. Ralph Nelson Elliott was the founder of this theory, and when asked about his view of the market, he always referred to five waves in the direction of a larger trend and three waves against the direction it was taking. After completing an eight-wave cycle, a larger cycle is formed in the future. It's as simple as that. May his memory be cherished, and may his soul rest in the shelter of God Almighty and the eternal world. I am attaching the analysis of this market that I shared with you earlier to this current analysis. The last word of my analysis text is repetitive, except for the explanation of the current analysis, because I also trade in the financial markets and am active in my social networks, working hard to improve my skills in analysis and trading to reach my goal. I apologize for repeating the text. I welcome suggestions and criticisms, and I will certainly respond, but a logical reason is important to me. Thank you for taking the time to review my analysis, and thank you all. To all my dear friends and colleagues, first of all, I wish you health and success in your goals. Mehdi Abbasi with the nickname (Mr. Nobody)
BINANCE:SOLUSDLong
by Mehdi_Abbasi_EWP
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
SOLANA - Top In Place! Down We Go...In our last analysis, we shared an unpopular opinion where we forecasted Solana to move down towards the $10 region. We appear as if we've made the top and looking for further downside. The overall pattern we're seeing is a 535 Zigzag correction. We had our confirmation to sell as the break of the red trendline, which we used to signalise the end of wave B and the start of wave C. We're keeping invalidation levels for the bearish scenario above 210. We'll be looking for further shorting opportunities. We'll be sure to update when we see another entry point! Goodluck and as always, trade safe!
BINANCE:SOLUSD
by WicktatorFX
24
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