SOL Short Scalp Trade IdeaWanted to try this a little earlier, but got caught up with something.
Trying this short here as I see some rejection from the 15 MIN Key Level and then possibly targeting 151.81 as the final TP.
Entry Price: 154.05
SL: 155.35
TP1: 153.33 (A closer target)
TP2: 151.81
Ideally I'd have loved it to retest the trend line, but since it hasn't done that, there is a small possibility that it'd do it making this a little risky which is why I have the SL a little wider.
Just going to wait and watch now.
Let me know your thoughts on SOLANA (SOL). Together we can make the right trades :)
Happy trading!
Solusdt
Why SOL Momentum Isn't Fake This Time?
Since March 1, 2024, SOL has been holding above $126 and is about to complete its 7th month at this level.
During this 7-month horizontal period, the price has formed 3 highs and 3 lows. The probability of the 4th high being even higher is greater because it has held its main support above $126 for this period, indicating a healthy accumulation.
Boxes
Looking at the boxes, we see that the price moved horizontally for a few days in the left blue box, then moved horizontally for a few days in the yellow box, and continued upward.
Looking at the right boxes and the same price regions, we see that the best-filled low region is the blue box, which is the 3rd low region. This is because the candles in the blue box were completely contained within this price range, filling it well. This pushed the price to the yellow box region.
In short, we see a price that is moving forward with a healthier accumulation compared to previous periods. This makes the picture bullish for now.
We can use these box regions as support in case of potential pullbacks. If we lose these regions, we can change our minds. But it may continue upwards without spending more time there.
Explanation of technical terms:
Accumulation: The buying of an asset over time, often at a lower price. A healthy accumulation phase is considered bullish.
Highs and lows: These refer to the highest and lowest prices reached during a specific period.
Support: A price level where buying interest is strong enough to prevent the price from falling further.
Boxes: These are likely referring to specific price ranges or patterns on a chart.
SOL Diamond and Going Up 2nd Time !Solana formed a diamond formation between April 2023 and September 2023 and broke it and went up. The price has now broken above a similar diamond formation in the same month 1 year later.
Repeating the process as it has done so far will push the price up.
Will the rise start in September 2024 as it did in September 2023?
$SOL $SOLUSDT Daily Bias UpdateI would have expected a stronger selling pressure from the supply zone that the price is currently in, but the price seems likely to target higher levels to grab more liquidity and mitigate extreme levels before going down.
Buys look more probable for now in lower time frames. I will look for sells as ( if ) I see strong liquidation and bearish momentum after price mitigating upper levels.
SOLUSDT today The SOLUSDT chart shows a bullish trend within an ascending wedge pattern. The price is currently approaching the resistance zone around 153.42 USD. After hitting this resistance, we might see a short-term pullback before a potential breakout occurs.
Key Insights:
The price has tested the upper resistance twice (red arrows), and a breakout above this level could signal a strong upward move.
The ascending support line (green arrows) indicates that the overall trend remains bullish.
If the price holds above 149–150 USD after a potential pullback, there is a high chance of an upward breakout toward the 158 USD level.
Prediction: If SOLUSDT can break and close above 153.42 USD, expect a bullish continuation toward 158 USD. However, if the price pulls back to retest the ascending support line, this could provide a good buying opportunity before the next upward move.
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Based on the indicator we predict as shown in the charts.
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SOL 152.53 LONG! Solana enters the bullrun zone!👋🤖 Solana is coming out above all the muwings on the daily and is preparing to give a strong impulse into the Long.
🔥🚀🚀 The level to trade is 152.53
Entry pattern breakout
First target 162.02
Second target 172.92
Volume is good, but Solana is a very volatile coin, so leverage above is not more than 20x !
Stop short
SOL shortIn continuation of more general overview (see "Related publications" below)
Expecting the SOL/BTC SOL/USDT pairs to correct together with the market correction, but with much higher amplitude. SOL/BTC is still standing strong compare to overall alt/btc pairs, and the ecosystem.. well, i see the similarities to the XRP behaviour and high value during initial crypto run for example. overall - overvalued. Thus, the correction on BTCUSDT equals to the correction on SOL/BTC, SOLUSDT pair to drop into 60-70 range, prob lower.
SOLUSDT Based on the current SOLUSDT chart, Solana has broken out of a descending channel and is attempting to continue its upward momentum. Here are the key highlights from the technical analysis and market impact:
Breakout from the Descending Channel:
Solana has broken through the upper resistance of the descending price channel. This indicates strong bullish momentum, and SOL is now targeting higher price levels.
Key Support and Resistance Levels:
The support zone is around 146 - 148 USDT (highlighted in green). This area may provide a foundation for further upward movement if the price pulls back slightly.
The major resistance is at 152 - 154 USDT (highlighted in orange). If SOL breaks this resistance, it could push higher with a clear bullish trend.
Short-Term Expectations:
SOLUSDT is likely to experience a slight correction towards the support level around 148 USDT before finding new buying pressure and attempting to test the resistance zone at 152 - 154 USDT.
A successful breakout above the resistance could lead to a significant upward move, with higher targets becoming viable.
Forecast: In the short term, SOLUSDT is expected to retrace slightly towards the 148 USDT area before bouncing back to test the key resistance at 152 - 154 USDT. The weakness of the US dollar and positive sentiment in the cryptocurrency market could fuel further growth for SOLUSDT.
SOL Very Risky SHORT Trade Idea (with Profits)Taking a very risky Short trade here with some of the profit's I made.
Price is coming into the 5 Min Key Level to retest after breaking it once.
Saw a little rejection so I'm just picking up a short with a very very tight Stop-Loss.
Entry Price: 152.22
SL: 152.80
TP1: 151.15
TP2: 150.23
TP3: 149.10
NOTE: This is mainly a gamble trade otherwise I normally don't trade like this. Trade with caution :)
Let me know what you guys think. I appreciate comments.
Good luck and Happy Trading!
SOLANA - Double Top or ready to breakout?Solana, the coin that has performed best against Bitcoin so far, is at a critical level, right now I do the same reasoning as I did on BTC, I observe only for the simple reason that you don't buy under the major resistance, you wait for the Breakout + retest or you wait for a nice support, in this case the long-term reversal points are clear and the first important support I see is very Lower than where the price is now, it's time to use the best of a trader's virtues which is patience
SOL Gamble Scalp Long TradeEntering SOL once again here. I think BTC is trying to stay in a range and so is SOL.
I'm just playing the range with a tight SL with a possible 1:3 Risk-Reward.
Entry Price: 142.96
SL: 142.44
TP1: 143.99
TP2: 144.92
I took the trade based on the 5min TF. It can go either way, so definitely risky.
If we go down to the Key Level and it's respecting the support, I might add some more. But given that it has already retested the support level, it's not that strong. Let's see!
Let me know what you guys think.
SOLANA - On the VERGE of CRITICAL TerritoryIt has been trading lower and lower and is now approaching the most important level in this region: $122.
It's hard to predict what will happen once it reaches that level. Both bulls and bears have a strong case to try and take control of that area.
As for me, I will remain neutral in this area unless:
There is a clear retest of $122 followed by a reclaim of the EQLs at $134.
There is a deviation below $122 with a strong reclaim.
Alternatively:
I might consider taking a significant short position below $122.
This level is crucial for bulls if the price is to continue moving higher. September is becoming increasingly interesting.
SOL Short Trade Round 3 [Very Risky]Trying this for the third time. BTC pumped and so did the other alt's.
Idea is to short it at the previous 15 min key level since we got a rejection there.
Entry price is: 148.07
Target prices are listed on the chart:
TP1: 147.49
TP2: 146.08
TP3: 144.83
TP4: 141.90
SL: 149.12
Note: This is a risky trade, but I do like the risk reward ratio here so just using my profits to trade.
Ideally if the price goes below 147, it'd be a safe short from there.
Do not chase the trade and do you own research before entering.
Happy trading!
There is currently a MASSIVE Cup & Handle in SOLANA!!SOLANA (SOL) has been building a massive cup-and-handle formation on the weekly chart that has taken 3 years and 8 months to achieve. If SOL breaks out of this pattern to the upside, the gains could be unbelievable!
Good luck, and always use a stop-loss!
SOL Short Trade Round 2Risking the winning from the last trade again for a Short:
Entry: 145.24
SL: 146 (Tight... Very tight)
Target Prices same as last time:
Target: Moving Target (143.89, 142.86. 141.74, 139.81)
This one is a comparatively risky trade, so not expecting much from this, but just taking the risk with profit money since this is a strong key level for both 1Hour and 15 min time frame.
Depending on the price action, I might move the SL a little higher.
Federal Reserve Cuts Interest Rates by 50 BPS, Crypto RalliesMarket Update - September 20th, 2024
Takeaways
The Federal Reserve cuts rates: The Federal Reserve announced Wednesday it will cut the federal benchmark interest rate by a half-percentage point (50 basis points), lowering the range to between 4.75% and 5%. Crypto markets responded well to the move, with the price of bitcoin pushing past $63,000.
US crypto legislation still possible this year: US senator Cynthia Lummis (R-WY) said in an interview Tuesday she thinks crypto legislation could be passed during the lame-duck session of Congress.
US spot bitcoin ETFs pull in $187 million in inflows: US spot bitcoin ETFs drew $187 million in inflows Tuesday, marking the fourth consecutive day of inflows after a significant drawdown.
Republicans ask for clarity on crypto airdrops: US representative Patrick McHenry (R-NC) and other top Republican lawmakers sent a letter to SEC chair Gary Gensler asking for clarity on crypto airdrops.
Federal Reserve Cuts Interest Rates by 50 BPS, Crypto Rallies
The Federal Reserve announced Wednesday it is lowering the benchmark federal funds rate by a half-percentage point (50 basis points) to between 4.75% and 5%. It marked the first interest rate cut in more than four years and signaled the Federal Reserve is ready to ease up on its fight against inflation.
The move marked the first time since 2008 the Federal Reserve had cut interest rates by 50 basis points at one meeting. Many analysts had expected a quarter-point percentage cut, but cooling inflation and a soft labor market allowed Federal Reserve chair Jerome Powell to be more aggressive. In August, the Consumer Price Index (CPI), a key inflation metric, dropped to 2.5% year-over-year, roughly hitting Powell’s 2% inflation target.
The long-anticipated move sparked the broader markets. And crypto prices also rallied, with bitcoin pushing to roughly $63,500 and ether increasing to roughly $2,350 respectively.
A low interest-rate environment is widely viewed as a greenshoot for risk assets including crypto, but it remains to be seen if a rate-cutting campaign will ultimately shoot bitcoin and other cryptocurrencies to all-time highs.
🌐 Topic of the week: Global Stablecoin Ecosystem
🫱 Read more here
Can Solana (SOL) top $200 in October?With Bitcoin touching the GETTEX:64K today, the altcoins are witnessing a massive demand boost. Amid the bull market, Solana releases major development announcements at Token2049, fueling the SOL price rally.
In the daily chart, the Solana price action reveals a new bull cycle gaining momentum. Over the last three days, the Sol price has increased by 14.50%, creating three consecutive bullish candles.
As Solana hits the $150 psychological mark, it trades with an intraday gain of 5.47%. The overall bull run in the last two weeks has witnessed a price surge of 20.52%, taking support from the crucial level of $125.
With the rounding reversal, the SOL price approaches the neckline near the $160-$163 supply zone. Hence, the tectonic shift in Solana supports the bullish rally and teases an uptrend continuation.
Honestly, I don't feel like explaining, the chart says it all !!SOLUSDT is in the ascending phase by the cup and handle.
SOL is in a large C&H if it follows these pattern, the price will have a nice rally.
⭐The pattern increases the price by the amount of the measured price movement (AB=CD).
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SOLUSDT - UniverseMetta - Analysis#SOLUSDT - UniverseMetta - Analysis
Formation of a 3-wave structure from the lower boundary of the correction movement, since the movement is lateral, one can expect a move to the upper boundary. In the opposite scenario, for further decline, it is necessary to exit the sideways movement. Since rebounds from the boundary are within 50%, one can see an excellent risk/profit ratio of 1:5 and 1:7.
Target: 149.75 - 187.46
#SOL/USDT#SOL
We have an upward trend pattern on a 1-hour frame, the price is moving within it and adhering to its boundaries well
We have a resistance area in green at a price of 140 after the price touched it and rebounded from it
We have a trend of stability below the moving average of 100
We have a downward trend on the RSI indicator that supports further decline
Entry price 135
First target 132
Second target 130.24
Third target 128.40