Solana SOL: Stuck in the Middle of the Daily Range
SOL remains undecided around $146.32, assessing bullish strength.
Breaking above $165.05 could target $205.27, but slipping below $130.93 might revert SOL to $112.58.
Solusdt
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.
solusdt update solusdt is tradin around 143 , and we are looking forward to drop it to 130 area from there on confirmation we will look for buying opportunity , good luck
Sol ideaSol is one of my faviourite coin because of its liquidity and volatility. Its forming a clean setup OB+FVG+SSL setup. But first i will look foe liquidity sweep from supply zone then tap into sell side liquidity where is our fvg and order block. This is my setup and shown on the chart.
It can be easy for SOLSolana is ranging on a strong support trendline and it's actually sitting on strong daily support. This chart is extremely bullish, and i think we are going up for the next weeks till the local top. Invalidation only below the black box
📈🔍 Altcoin Trade Analysis (SOL) 🔄💼Trade Overview:
BTC's sharp reversal off support has uplifted the overall market, presenting a potential opportunity to go long on bullish altcoins like SOL, currently resting on support.
Trade Setup:
Entry: Enter the trade at $142.00.
Take Profit: Consider taking 25% profit at $150 and the remaining balance at $160 - $170.
Stop Loss: Set the stop loss just below $138 to manage risk effectively.
Risk Management:
Until BTC can regain higher resistance levels, view this as a relief bounce.
Take profits opportunistically and manage trades closely amid market volatility.
📊🛡️ Exercise diligence and monitor SOL's price action for trade management! #SOLTrading #CryptoAnalysis 📉🚀
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.
Will Solana stay on current support?Hello everyone, let's look at the 4H SOL to USDT chart, as we can see the price is staying in the sideways trend channel marked with blue lines.
Let's start by setting goals for the near future that we can include:
T1 = $145.9 was rejected
T2 = strong zone that effectively reverses the price from $153-$163
AND
T3 = $189
Now let's move on to the stop loss in case of further market declines:
SL1 = $143.4
SL2 = $133.56
SL3 = $126.48
AND
SL4 = $117.53
Looking at the RSI indicator, you can see that we are moving around the middle of the range, which gives a possible move in both directions, but the STOCH indicator is moving at the lower border, which should result in an upward price rebound if the price stays at the current support.
Why most people still bullish on $SOL price?#solana #sol chart structure is weakened and needs more correction in MID TERM. Orange boxes are the support zones. Not financial advice.
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.
SOL can ascend further!
BINANCE:SOLUSDT 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).
Stay awesome my friends.
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✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
$SOL - LONG to ~$919CRYPTOCAP:SOL
Plan for CRYPTOCAP:SOL Remains Un-Changed.
Consolidation Before Much HIGHER.
Study CONVICTION.
#SOLANA ⚡️
--- A study on chart fractal / greater cycle theory/fib extensions. CRYPTOCAP:SOL to ~$919 area this cycle.
- @CryptoCurb
Solana's Intraday Surge: Will $157 Mark the Path to $170?Yesterday, Solana moved bullish in the H4 chart towards $157.
1. A bounce off $150, followed by a bullish surge to $157, could pave the way for $169-$175. However, reclaiming $157 is essential first.
2. A move to below $143 may exert further downward pressure towards $137 and $131, the key intraday support, with expectations for a slow and choppy price movement in this scenario.
Find more information in signature!
🚀🔍 SOL Long Trade Analysis 🔒💼Trade Overview:
SOL appears promising for a spot long trade, being one of the fastest Layer 1 blockchain platforms. Its performance potential during the current bullish market phase is notable.
Trade Setup:
Entry: Consider entering the trade around $141.
Take Profit: Aim for profit targets at $160 - $170 and the next resistance area at $200 - $220.
Stop Loss: Place the stop loss just below $135 to manage risk effectively.
📊🔐 Exercise diligence and monitor SOL's price movement for trade execution! #SOLTrading #CryptoAnalysis 📈🌐
$SOL chart' s bearish continuationWith the price declinations, #sol #solana price formed bearish double top in short term. Bearish continuation expected. Not financial advice.
