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SOLETH trade ideas

Scaling HeightsUptober is finally upon us. But as Bitcoin's price picked up, the real standout price action this month has once again come from Solana. The high-performance chain is the main hub for this cycle's biggest narrative: memecoin trading. Retail traders enjoy the speed, ease-of-use and 'straightforwardness' of Solana's trading experience. The fact that popular memecoin launchpads are on Solana just furthers this virtuous cycle. Recently, Solana's total volume has superseded that of Ethereum and of its Layer 2s combined. No wonder that Solana's year-to-date price performance has blown both ETH and even BTC out of the water. This price movement also highlights another market development: the old paradigms are dead. Bitcoin's rallies were supposed to be followed by Ethereum and then by other Alts. If Ethereum underperformed, Alts were supposed to be absolutely crushed. Yet, the tides have turned entirely. Solana has continuously outperformed Ethereum in this cycle so far. Memecoins have been flying, regardless of Ethereum. Meanwhile, Bitcoin, driven by ETFs and institutional adoption, has continued to move in a 'weight class' of its own. The old paradigm is dead, long live the new one? One of the main challenges for Ethereum in this cycle has been its inability to shape a strong, coherent narrative. While Solana's thesis can be broken down to 'fast casino = gud', Ethereum's complex roadmap, countless Layer 2s and even Layer 3s, and deeply technical conversations have turned away a lot of regular users. Undoubtedly, Ethereum continues to command a lot of developer mindshare. It also comes closest to institutional adoption for smart contract use-cases thanks to its technological maturity. Impressive technical progress is being made towards user-experience improvements such as account and chain abstraction which will make Ethereum easier, faster and better for all users. But if this can already translate into positive price action this cycle remains to be seen. On the wider macro side, markets remain hopeful that a new breakthrough can finally happen to new Bitcoin all-time-highs. The upcoming US elections and continuing wars in Eastern Europe and the Middle East provide for both greed and despair among traders. A more pro-crypto administration post US elections and an end to the wars could ignite a firework. But right now events could turn either direction. For now, the markets are optimistic, yet also at the whim of a coin-flip. Happy trading everyone!
by Coinrule
SOL/ETH: Buy the Dip? Bearish Signal Flashes Before Bull RunSOL/ETH: Bearish Divergence Hints at Correction Before Next Leg Up The SOL/ETH chart paints a picture of a potential short-term pullback before continuing its upward trend. While the overall outlook remains bullish, the presence of a bearish divergence on the RSI warrants caution. Potential Correction: A correction to the 0.04 level is plausible, offering a potential entry point for those looking to capitalize on the long-term uptrend. This correction would provide a healthy retracement before the next leg up. Targets: Target 1: Target 2: These targets represent key levels that SOL/ETH could reach once the upward momentum resumes after the potential correction. Bearish Divergence on RSI: The bearish divergence on the RSI is a notable warning sign. While the price has been making higher highs, the RSI has been making lower highs. This divergence suggests that bullish momentum may be waning, increasing the likelihood of a price correction. Technical Analysis Breakdown: Uptrend: The overall trend for SOL/ETH remains bullish, as evidenced by the rising trendline and higher highs in price. Bearish Divergence: The bearish divergence on the RSI suggests weakening bullish momentum and increases the probability of a price correction. Potential Correction: A correction to the 0.04 level is possible, providing a healthy retracement before the next leg up. Strong Support: The green box highlights a strong support zone that could act as a floor during the potential correction. Key Targets: The defined targets (Target 1 and Target 2) provide clear price objectives for the next leg up. Investment Considerations: Risk Management: The potential correction highlights the importance of risk management. Consider using stop-loss orders to limit potential losses. Entry Point: The potential correction to 0.04 could offer an attractive entry point for those looking to capitalize on the long-term uptrend. Confirmation: Wait for confirmation of the correction before entering a long position. Look for a bounce off the strong support zone or a bullish reversal pattern on the RSI. Patience: Exercise patience and avoid chasing the price. Wait for the correction to play out before making any trading decisions. Disclaimer: This is not financial advice. Please conduct your own research and consult with a financial advisor before making any investment decisions
Short
by Broker_Hunter
1
SOL/ETH: Buy the Dip? Bearish Signal Flashes Before Bull RunSOL/ETH: Bearish Divergence Hints at Correction Before Next Leg Up The SOL/ETH chart paints a picture of a potential short-term pullback before continuing its upward trend. While the overall outlook remains bullish, the presence of a bearish divergence on the RSI warrants caution. Potential Correction: A correction to the 0.04 level is plausible, offering a potential entry point for those looking to capitalize on the long-term uptrend. This correction would provide a healthy retracement before the next leg up. Targets: Target 1: Target 2: These targets represent key levels that SOL/ETH could reach once the upward momentum resumes after the potential correction. Bearish Divergence on RSI: The bearish divergence on the RSI is a notable warning sign. While the price has been making higher highs, the RSI has been making lower highs. This divergence suggests that bullish momentum may be waning, increasing the likelihood of a price correction. Technical Analysis Breakdown: Uptrend: The overall trend for SOL/ETH remains bullish, as evidenced by the rising trendline and higher highs in price. Bearish Divergence: The bearish divergence on the RSI suggests weakening bullish momentum and increases the probability of a price correction. Potential Correction: A correction to the 0.04 level is possible, providing a healthy retracement before the next leg up. Strong Support: The green box highlights a strong support zone that could act as a floor during the potential correction. Key Targets: The defined targets (Target 1 and Target 2) provide clear price objectives for the next leg up. Investment Considerations: Risk Management: The potential correction highlights the importance of risk management. Consider using stop-loss orders to limit potential losses. Entry Point: The potential correction to 0.04 could offer an attractive entry point for those looking to capitalize on the long-term uptrend. Confirmation: Wait for confirmation of the correction before entering a long position. Look for a bounce off the strong support zone or a bullish reversal pattern on the RSI. Patience: Exercise patience and avoid chasing the price. Wait for the correction to play out before making any trading decisions. Disclaimer: This is not financial advice. Please conduct your own research and consult with a financial advisor before making any investment decisions
Short
by Broker_Hunter
Is money moving from Ethereum to Solana?Solana quoted in Ether is in a decisive region. It has already broken the 2021 high, but it is necessary to be aware of a possible bull trap. It is interesting to note that Solana's TVL¹ is still 9% of Ethereum . We obtain this number by dividing the TVL's. So the chart shows a break above the 2021 all-time high, when it was 8.64%: However, in the USD quote, the price is in a turbulent region; there may be false breakouts up or down. ¹ Total Value Locked: total value of assets that are locked in a DeFi protocol through smart contracts
by andre_007
1
SOL should continue to significantly outperform ETH SOL outperformed ETH in 2023 920% to 91%. SOL outperformed ETH so far in 2024 43% to 4%. I am projecting SOL to continue to significantly outperform ETH in this cycle from now until the approximate market top in Oct 2025. As such I've decided to unstake the Lido stETH in Ledger and claim the equivalent ETH six days from now. The plan is to send that ETH to Coinbase, sell it for USD, and then use the proceeds to buy more SOL. Notice the Elliot Wave projection for the SOLETH weekly chart until Oct 2025. The 0.0612 value now I am projecting to about .33 by Oct 2025 or a 5 fold increase. That could be $3300 SOL when ETH reaches $10000 at the same time. :)
Long
by shubbs
1