SOLANA trade ideas
Solana is approaching the main trendHey Traders, in today's trading session we are monitoring SOLUSDT for a buying opportunity around 139.00 zone, Solana is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 139.00 support and resistance area.
Trade safe, Joe.
Buy the dip on Solana - bouncing off support soonTouching the strong resistance line, likely to bounce up in the coming months on technical basis. Fundamentally it is strong in adoption and once the fed cuts interest rate by year end, money market funds and idle cash will start to flood into risk assets such as solana.
SOLUSD Not the time to buy yet.Watch the 1WRSI. Is 4k realistic?Solana (SOLUSD) has been on a correction mode since the March 2024 High, in an attempt to technically harmonize the massive rally of 2023. The 1W RSI Double Topped in the same month and this is where all the essence of the current price action is.
The 1W RSI peaked on the exact same level (86.00) back on the week of August 24 2020. It didn't find a bottom before entering into bearish territory again around 41.50. That correctional Channel was more aggressive than the current, so this time we may only seek confirmation from the 1W MA50 (blue trend-line), which has been supporting ever since the late September 2023 bullish break-out.
In any case, we believe that the RSI's Bull Cycle Buy Zone, will again give the most optimal buy entry, so we haven't bottomed yet. In any case, we are well within the Mayer Multiple Bands, in fact March's rejection came on its 2 SD above, at the bottom of the Red Wave.
During the previous Cycle, Solana rose by 51250% from the time is started to form the current long-term Fibonacci Channel Up. If we measure the same % growth from the recent Bear Cycle bottom, then we are looking at a peak a little above $4000.
Odd as it may look, keep in mind that Solana has already rose by +2500% up to March's High and if it indeed reaches 4k this Cycle, the rise will be less (+1900%) from March's High than it was from December 2022 to March 2024.
Unrealistic or not, it is up to your mind and capital to judge that but it is a fact that the market is only now entering the most aggressive phase of it Bull Cycle.
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SOLANA getting ready for big moveSOLANA getting ready for big move
Buy near 147-148
Stop loss at 139
Target 180-190 short term
Bullish rise?SOL/USD is currently reacting off the support level which is a pullback support and could potentially rise to our take profit.
Entry: 145.30
Why we like it:
There is a pullback support level
Stop loss: 138.32
Why we like it:
There is a pullback support level which aligns with the 138.2% Fibonacci extension.
Take profit: 161.68
Why we like it:
There is an overlap resistance level which is slightly below the 61.8% Fibonacci retracement.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
SOL analysisHello guys,
Here's my next trade for Solana
I'm entering long as the price bounced from the trendline and I'm expecting to hit at least the upper trendline from the channel.
DYOR and stay safe :P
SOL AnalysisHello,
Here is my plan IF we see a breakout from this trendline to the upside.
I am planning to hold it until it reaches the diagonal trendline that was validated with the recent swing high. I've marked it for you.
Stop loss is below the swing low and the downside of the trend channel for more security and to avoid fake outs.
Please dyor and enter only if the price breaks like mentioned above.
Stay safe and keep earning :)
Bearish drop?SOL/USD is reacting off the resistance level which is a pullback resistance and could potentially fall to our take profit.
Entry: 149.31
Why we like it:
There is a pullback resistance level.
Stop loss: 157.34
Why we like it:
There is a pullback resistance level which aligns with the 38.2% Fibonacci retracement.
Take profit: 138.24
Why we like it:
There is a pullback support level.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Solana to tap around $150 before sending to new ATHThis wedge pattern is a strong bullish signal for Solana, in my opinion. It's in a slight downward trend currently, but I do believe considering the high volume support around the $150 zone, that it will tap there and then eventually soar to new all-time highs.
Bearish divergence H&SMarket is weak and the price is strong, mean hard reversal.
Clearly, H&S 99% is formed.
Bull Trap. The cheese must be good. $90 - $75 TP.NFA. DYOR.
We are in a distribution phase. TP and buy zone set out $90 to $75.
SOL AnalysisHello Traders!
I've been analyzing the market today and I decided to open this trade.
It is a bit risky but the risk to reward ratio is big. I'm expecting this move to be a bear trap. I might be wrong as this is like trying to catch a falling knife (which almost never works as expected). I am just trying some new things and my experience allows me to try this from time to time. I'll keep you updated. I do not recommend taking this trade, but I want to show you that I am fully transparent and I will show you all of my trades. No matter losing or winning. Stay safe, do not risk more than 3% of your portfolio and keep earning! :)
$SOL is about to enter orbitCOINBASE:SOLUSD has established a strong rebound from a massively oversold RSI basis (4h)-- the trend shows that there is massively bullish potential if/when it does break out
