Sol is comming up against alot of resistanceWill it get through the hurdles?
We have mapped put potential upside targets are ascending resistance zones.
Are you buying or shorting at resistance?
SOLUSD trade ideas
Bullish bounce off 38.2% Fibonacci support?SOL/USD is falling towards a support level which is a pullback support that aligns with the 38.2% Fibonacci retracement and could potentially bounce from this level to our take profit.
Entry: 155.02
Why we like it:
There is a pullback support level which lines up with the 38.2% Fibonacci retracement.
Stop loss: 149.20
Why we like it:
There is a pullback support level which aligns with the 61.8% Fibonacci retracement.
Take profit: 174.62
Why we like it:
There is a pullback resistance 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 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.
Running into resistance. Can it break through?Sol has taken off but now is in a bit of a pickle.
It is in the resistance zone.
Can it break through or will it retrace.
My short resistance zone is near the $169.
If it breaks through that then its off to the races
$SOLUSD breaks out of base SOL is breaking out of base after 16 April. Looks like it will continue it's uptrend.
My target's on Solana's next ATH in the 2024 - 2025 cycleThese are just price and mcap projections and not to be taken as financial advice.
Imho there are basically 3 cryptocurrencies that matter in terms of organic user and developer adoption. That's Bitcoin, Ethereum and Solana, other chains don't come close.
Currently Solana is the fastest blockchain, and processing more transactions than Ethereum and it's L2s combined.
Ethereum:
Top to top, 2018 - 2021 ETH made a 244% gain, from around $1400 - $4800
Solana:
In my model, my conservative target is $500 in the upcoming bull cycle, which is only a 94% gain top to top. "2021 - 2024/2025"
In my aggressive target, it's a 284% gain top to top, ie: from roughly $260 to $1000. Which is just slightly more than ETH's 244% performance, but we're talking about a chain with atm a much smaller marketcap, but much more potential of mass adoption.
The $1000 liberal target which give SOL at current supply a $420 billion mcap, which is still under ETH's 2021 top mcap size of $578 billion.
Solana's Triangle Breakout Rally Could Reach $250Triangle Tension: SOL is currently compressing within a triangle pattern, indicating a critical juncture that could lead to significant price movements.
Support Stress: The ongoing retracement is putting pressure on the long-standing support trendline, heightening the stakes for future price direction.
Resistance Hurdles: Solana faces challenges at the overhead resistance trendline, with recent actions failing to break above the $150 psychological mark.
Bullish Break Potential: A successful bullish break from the triangle pattern could propel Solana towards the $200 mark in the short term.
Bearish Warning Signs: The MACD indicators are nearing a bearish crossover, suggesting potential downward pressure that could threaten the current support levels.
Market Cap Context: Despite a recent 3.26% drop, Solana's substantial market cap underscores its significant position in the cryptocurrency market.
Intraday Insights: A minor intraday rise of 1.30% suggests bearish exhaustion, hinting at the possibility of a pending bullish reversal.
Critical Crossroads: Solana's price at a pivotal crossroads captures market attention, with significant upside if the bullish momentum takes hold.
Downside Risks: If the bearish scenario plays out, Solana could see a decline towards the $100 support level, marking a crucial test for the token's resilience.
Long-Term Aspirations: Optimistically, a sustained uptrend could see Solana reach up to $500 by 2024, pending overall market conditions and breakthroughs above key resistance levels.
SOL/USD potential bullish bounce off overlap support?Price is falling towards a support level which is an overlap support and could potentially bounce from this level to our take profit.
Entry: 138.77
Why we like it:
There is an overlap support level.
Stop loss: 128.26
Why we like it:
There is a pullback support level which aligns with the 78.6% Fibonacci retracement.
Take profit: 153.98
Why we like it:
There is a pullback resistance 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.
Can go long on sol coinIts in consolidation phase the ranges of consolidation is 120-160 and its taking support at fib 0.6 level the 160 level will break within a week or on 19th may as per my data
Can go long after the breakout of 160 levels for targets of 240
Happy trading
SolanaDue to its strong fundamentals and recent bullish momentum. With ongoing network upgrades, increasing adoption of its blockchain technology, and a robust ecosystem of decentralized applications (dApps), SOL is well-positioned for significant growth. Target entry: $10X.XX, with a short-term target price of $170.XX, reflecting a potential gain of 60%.
✴️ Support Weakens | Solana To Crash Below 100A trend following system uses a moving average as the main tool to generate trading signals for a system trader; the moving average is like the holy grail of technical analysis, together with the RSI.
The moving average that is active on this Solana chart is ema100; blue line on the chart.
Notice how Solana (SOLUSD) becomes bullish September 2023 as soon as it breaks above this indicator; a test happens in October 2023 of ema100 as support and it holds. From October 2023 through March 2024 Solana moved straight up, trading safely above ema100.
Now... Everything changed!
➖ The market sentiment change;
➖ The short- to mid-term direction changed;
➖ Solana is now bearish for almost two months!
👉 ema100 is the last and critical support at $140.
If this level breaks, expect a sudden and fast crash below $100 next.
Thank you for reading.
Namaste.
Needs to hold support or Potential Breakdown AlertSOL needs to hold the upward sloping trendline as support.
If not, there is trouble brewing.
Potential breakdown alert.
We have mapped out the downside support price targets.
Solana, reverse head and shoulders, yey or ney?Is what we seeing a pattern for going long? Wdyt? COINBASE:SOLUSD
SOLSOL looks good to run highs in coming weeks, sitting nicely atop midrange, and above vPOC of all price action that has transpired above midrange. Also, has mid BB (weekly) confluence as support from this juncture. Essentially more likely to begin filling inefficiency above than lose support below.
Double bottom in sol/usdDouble bottom in sol/usd
bearish reversal
entry/buy stop -159
stop loss -119
MAY 10 ’24 - SOL - FORECASTMAY 10 ’24 - SOL - FORECAST
This is a prediction of the next 24 hours
I use a combination of indicators from ChartPrime and luxAlgo.
The Green
is the daily channel extrapolation continuation ranging from the middle of the previous day’s extrapolation
The Orange
is the projected extrapolation forecast based on the current day
Happy Trading!
-MV
SOLANAUSD Projcetion of reversalThe Bat reversal Harmonic Pattern is forming which is going to take some time to mature as there is no divegence. Possible PRZ is 122 to 124 level so add solana in the watchlist for possible trend reversal or trade the bearish trend accordingly due to no divergence.
Solana Slides on FTX Liquidation, Open Interest DropsSolana ( CRYPTOCAP:SOL ) has experienced a drop in price due to renewed concerns over FTX liquidation, leading to a decrease in trading activity and a significant drop in open interest. The token, known for its high speed and low fees, has shown resilience amid the ongoing FTX bankruptcy. However, the price has dropped due to renewed concerns over FTX liquidation, resulting in a decrease in derivatives trading volume and a 5.53% drop in open interest.
In the last 24 hours, Solana ( CRYPTOCAP:SOL ) witnessed $7.61 million in total liquidations, with long positions accounting for $4.7 million and short positions for $2.91 million. Long-short ratios on Binance and OKX indicate traders' optimism about a potential rebound, while technical analysis shows bullish signals.
Solana's technical indicators show a predominantly bullish sentiment, with both the 10-day Exponential Moving Average (EMA) and the Simple Moving Average (SMA) signaling buy. However, longer-term moving averages, including the 30-day EMA and SMA, indicate potential resistance at higher levels. Oscillators are generally neutral, with the Relative Strength Index (RSI) at 48.35 indicating neither overbought nor oversold conditions.
Technical indicators reflect current market sentiment rather than predicting future movements. Solana ( CRYPTOCAP:SOL ) has been battling ongoing congestion issues, largely caused by increased DEX volumes. Understanding Solana's technicals provides insight into the market's reactions to SOL's FTX sales, which is crucial for both traders and investors in the SOL ecosystem.
SOL bullish breakoutAs momentum is building I expect a breakout from this and I've opened a long position.
If the price breakouts down the trade is invalidated.
Thank you and DYOR. This is not a financial advice.
SOL Target Short DailySOL touched the forming trendline as predicted and it will go back to touch again the recently broken resistance and make it a support. And then it will go even higher.
SOL Potential Further DownsideSOL is currently exhibiting signs of bearish continuation after failing to break above key resistance. We see a possible double bottom forming around the current price level, indicating a potential test of support at $115.
Price action has been consolidating after a recent decline, potentially forming a double bottom pattern.
Fibonacci retracement levels (not shown, but recommended to add to your chart) suggest a measured downside target near $115.
The failure to break above resistance indicates continued weakness in the market.
Risk/Reward:
The potential reward-to-risk ratio favors a short position, with a target of $115 and a stop-loss placed slightly above the recent resistance level.
Then hey, if we're lucky, up to $340.
SOLANA (SOL)$SOLANA is getting ready for another bullish leg, It's showing a reversal pattern and I'm positive in the next few weeks we will see an incredibly bullish move
