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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.
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.
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.
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SOL: ny money management📊Analysis by AhmadArz:
🔍Entry: 134.97
🛑Stop Loss: 130.59
🎯Take Profit: 139.35 - 143.91
🔗"Uncover new opportunities in the world of cryptocurrencies with AhmadArz.
💡Join us on TradingView and expand your investment knowledge with our five years of experience in financial markets."
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SOL/USDT It shows will be back test on the support trendline!💎 Paradisers, #SOL is indeed attracting attention as a coin worth keeping a close eye on.
💎 After facing rejection at the resistance area, SOL appears poised to retest the support zone around $127 - $116. This zone not only represents a local support but also coincides with a support trendline.
💎 A successful bounce from this area would signal bullish strength, potentially propelling the price upward to reattempt breaking the resistance around $162 - $169.
💎 If this resistance is breached with a successful bounce, it could pave the way for further upward movement, ultimately aiming for our target strong resistance area.
💎 However, should SOL fail to find support and instead break below the support area, it would raise concerns as it would not only invalidate the local support but also breach the bullish trendline support.
💎 In such a scenario, the price could descend towards the last bullish stronghold at the demand zone around $105. This could lead to SOL entering the oversold territory on the RSI indicator, typically below the 30 RSI mark. If SOL bounces from this oversold condition, attention would shift to reclaiming the $127 support area to resume the upward trajectory.
💎 However, if SOL breaks down below the demand area, it would confirm a bearish trend in the short term, signaling further potential downward movement.
MyCryptoParadise
iFeel the success🌴
ICT Short Setup Intraday SOLUSDTHello Traders,
Our AI system detected that there is an ICT short setup in SOLUSDT as scalping,
Please refer to the details Stop loss, Supply Zone(Sell Zone), TP 1 and TP2 for take profit.
For more ideas, you are welcome to visit our profile in tradingview.
Have a good day!
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SOL: back to latest renge📊Analysis by AhmadArz:
🔍Entry: 143.96
🛑Stop Loss: 125.30
🎯Take Profit: 159.64 -190.98
🔗"Uncover new opportunities in the world of cryptocurrencies with AhmadArz.
💡Join us on TradingView and expand your investment knowledge with our five years of experience in financial markets."
🚀Please boost and💬 comment to share your thoughts with us!
#SOL Below 50 USD in Future I am also confused about what problems might arise in SOL. But the technical chart on the daily time frame is indicating that SOL will crash in the coming time and could go below $50. I would be happy in the future if my analysis proves wrong. But if you are long in SOL futures or margin, you should definitely reconsider this once.
SAFE TRADING.. SOL IS NOT SAFU..
SOL: sell in cycle📊Analysis by AhmadArz:
🔍Entry: 180.85
🛑Stop Loss: 187.18
🎯Take Profit: 175.44-169.76-163.92-156.88-150.02
🔗"Uncover new opportunities in the world of cryptocurrencies with AhmadArz.
💡Join us on TradingView and expand your investment knowledge with our five years of experience in financial markets."
🚀Please boost and💬 comment to share your thoughts with us!
Solana Weekly Analysis Here's the corrected version:
Solana has demonstrated its strength in this bullish market, showcasing a long accumulation phase from Mon 30 May '22 to Mon 30 Oct '23. Subsequently, the price began breaking highs directly to $200, marking a 2500% increase from Mon 26 Dec '22. It's been quite a volatile market, and I believe Solana has the potential to become one of the leading blockchains in the next few years.
In the technical analysis, we observe the price starting to drop as buyers from the accumulation phase begin taking their profits. Additionally, there's market anxiety due to geopolitical tensions and rising inflation. However, this decline is healthy, as it provides an opportunity for new buyers to accumulate Solana and potentially drive it to new all-time highs.
The optimal price point to buy Solana is in the sweet spot below the 50% Fibonacci level, indicating a discount area for accumulation.
SOL (SOLANA) Technical Analysis and Trade IdeaThis video presents an in-depth examination of a technical analysis and trading strategy for SOL. Our evaluation indicates the possibility of a trading prospect. We conduct a detailed review of the prevailing price movements, examine the market's framework with precision, and take into account the market's forces. Given the positive circumstances, we pinpoint a prospective point of entry. Nevertheless, it is essential to emphasize the importance of applying strong risk management measures. It is important to remember that the content of this video is intended solely for educational purposes and should not be interpreted as investment advice.
SOLUSDT:🟢Buy opportunity🟢By examining the Solana 2-hour chart we can figure out, this coin has the potential to rise.
As you can see, the price collected the liquidity below the old low and had a bullish reaction and respect to the bullish PD Arrays.
So, now we can expect the price respect to the FVG and go for buy-side liquidity.
What you should know: Solana is a blockchain platform that uses a proof-of-stake mechanism to provide smart contract functionality. Its native cryptocurrency is SOL. Solana was launched in 2020 by Solana Labs, which was founded by Anatoly Yakovenko and Raj Gokal in 2018.
SOL/USD: Riding the Waves of Resistance with SOLANAWelcome back, crypto crusaders! Today, we're diving into the turbulent waters of SOL/USD trading with our favorite meme-like analysis. So grab your life vests and let's navigate the waves of resistance together!
Right off the bat, SOL is giving us some serious déjà vu as it flirts with resistance levels that harken back to its previous all-time high (ATH). Talk about a blast from the past! But fear not, because we've got our trusty charts and Fibonacci levels to guide us through this storm.
Zooming out to the monthly timeframe, we're seeing some unconfirmed structure, but the weekly suggests that resistance is looming large. However, amidst the chaos, there's a glimmer of hope – a bullish trendline on the monthly, aligning perfectly with the 615 Fibonacci level and structure. I smell a potential support zone brewing at the $100 level, assuming the price plays nice with the ATH as resistance. Cue the dramatic music!
Now, here's the golden rule: Buy if and only if the structure is confirmed at the $100 level. We're talking about touching a support trendline here, folks – a break could send us spiraling down faster than you can say "crypto crash." And trust me, nobody wants to visit the dreaded $40 level!
But wait, there's more! We're not just looking for confirmation of support – we're also keeping a keen eye on that pesky ATH level. If it decides to flex its resistance muscles, we might just find ourselves eyeing the $140 level as our new loading zone. Talk about a plot twist!
As for our TP (take profit) level, we're setting our sights on the lofty $412.00 mark. But beware, brave traders – the ATH will be standing guard, ready to thwart any further push. Better review those lower timeframes to confirm our strategy.
Remember, it's all about probability, folks – no trading advice here, just some good old-fashioned risk-taking. And hey, don't forget to stay up to date with the latest news on SOL – fundamentals are the wind beneath our trading sails!
So, here's to riding the waves of resistance with SOLANA – may the memes be plentiful and the profits be ever in your favor!
Keywords: SOL/USD, trading analysis, resistance levels, support zones, Fibonacci levels, bullish trendline, ATH, loading zone, take profit level, risk management, investing, trading advice, dollar-cost averaging, cryptocurrency news, meme culture.
SOLUSDT Elliott Waves AnalysisHello friends.
Please support my work by clicking the LIKE button👍(If you liked). Also i will appreciate for ur activity. Thank you!
Everything on the chart.
wave v of (iii) was completed,
im waiting for decreasing in wave of (iv) and continuation of growth.
Entry zone: 120 - 90
Good luck everyone!
Follow me on TRADINGView, if you don't want to miss my next analysis or signals.
It's not financial advice.
DYOR!
SOLUSDT: Price is likely to continue to rise! SOLUSDT: Our previous analysis of SOLUSDT was conducted when the price was at $20. Given the current bullish sentiment in the cryptocurrency market, we believe that the price will continue to rise. Our revised target range is $240 to $300. However, due to the low trading volume during the Easter holidays, we recommend waiting for the market to return to normal volume before executing any trades. Please note that this analysis is specific to SOLUSDT and should not be compared to our previous analysis of BTCUSD, as the market dynamics and biases are different.