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SOLUSD trade ideas

Solana showing weakness in the weekly timeframe a possible -12%Despite the strong movement in the monthly timeframe, solana seems to want to cool off a little bit before a continuation and in the weekly timeframe is showing several bearish divergences for almost the entire year of 2024. So in resume solana could retrace around the $200 level initially and the last downside target will be between $180 to $160 , with various confluences wvap, fibonacci levels and the strong weekly bearish divergences and the retest of the bull flag.
COINBASE:SOLUSDShort
by Miketubarao
SOL/USD Working with Clear Pennant PatternFollowing an all-time high of US263.72 in November (up 45%), SOL/USD (Solana versus the US dollar) price action on the daily timeframe is in the process of drawing up a pennant pattern between the record high and a low of US$220.78. Pennant Pattern and Ichimoku Support Combination What is interesting here is that the pennant pattern has formed ‘into’ an area of support between the Ichimoku Conversion Line (blue at US$238.96) and Base Line (red at US$208.84). This could see buyers attempt to enter the fight from this area, with a break north of the pennant pattern possibly employed as bullish confirmation. Should price fail to breakout higher from current levels, investors will likely look towards the Ichimoku Cloud support area. This consists of the Leading Span A (green at US$223.90) and the Leading Span B (orange at US$198.15). You may also note that the Ichimoku Cloud is positioned closely with support at US$188.42 and a trendline resistance-turned-possible support line formed from the high of US$209.27. Price Direction? Because of the pennant pattern's convergence, SOL/USD traders will likely gravitate to the support area between the Ichimoku Conversion and Base Lines. As noted, a breakout above the pennant pattern’s upper boundary may see more buyer commitment, leading to price challenging (and possibly breaching) all-time highs.
FPMARKETS:SOLUSDLong
by FPMarkets
Solana potentially breaking upward from bullishpennant on daily If it can breakout of the pennant already from this spot then it’s price target will be around $343 wouldn’t surprise e if it finds a way back inside the pennant to consolidate a little ore first but I’d be ore than happy with it breaking up fr the pennant already. Odds are good if it doesn’t break upward fro the pennant here that the orange 50ma will eventually force it up out of the pennant when it rises up to enter the pennant in the next few days. *not financial advice*
COINBASE:SOLUSD
by DrDovetail
SOL LONG H44H 200MA SUPPORT OB +other confluences Founded by former Qualcomm, Intel, and Dropbox engineers in late-2017, Solana is a single-chain, delegated-Proof-of-Stake protocol whose focus is on delivering scalability without sacrificing decentralization or security. The Solana protocol is designed to facilitate decentralized app (DApp) creation. Core to Solana's scaling solution is a decentralized clock titled Proof-of-History (PoH), built to solve the problem of time in distributed networks where there is not a single, trusted, source of time. Due to the innovative hybrid consensus model, Solana has attracted the attention of small traders and institutional traders. An important focus of the Solana Foundation is to make decentralized finance available on a larger scale.
CRYPTO:SOLUSDLong
by kmiarka
SOL LONG H44H 200MA SUPPORT OB +other confluences Founded by former Qualcomm, Intel, and Dropbox engineers in late-2017, Solana is a single-chain, delegated-Proof-of-Stake protocol whose focus is on delivering scalability without sacrificing decentralization or security. The Solana protocol is designed to facilitate decentralized app (DApp) creation. Core to Solana's scaling solution is a decentralized clock titled Proof-of-History (PoH), built to solve the problem of time in distributed networks where there is not a single, trusted, source of time. Due to the innovative hybrid consensus model, Solana has attracted the attention of small traders and institutional traders. An important focus of the Solana Foundation is to make decentralized finance available on a larger scale.
CRYPTO:SOLUSDLong
by kmiarka
EW-Analysis // Solana (SOL) 12/03/24Hi everyone, today we'll have a brief lool at Solana... Please note the DISCLAIMER at the end of this idea! A brief overview of Solana: Solana is a blockchain platform launched in 2020, known for its high scalability and low transaction costs. Developed by Anatoly Yakovenko, Solana aims to enable fast and efficient decentralized applications (dApps). Using innovative technologies like Proof of History (PoH), Solana can process thousands of transactions per second, offering a powerful alternative to established networks like Ethereum. ~chatgpt Now, let's move on to the analysis... The broader structure of Solana looks bullish, as it’s highly likely that COINBASE:SOLUSD has already completed Wave 2 and is now in Wave 1 of the following Wave 3. Looking at the current situation, it appears that Wave 3 of 1 has initially concluded, meaning we should currently be in Wave 4. This wave could extend up to $198.05, with the subsequent target around $315. After reaching this level, a somewhat stronger correction is expected. I hope you found my idea helpful and understandable. If so, feel free to drop a rocket! 🚀 Wishing you a successful trading week and hope you are doing well. Best regards, Rafi DISCLAIMER: The information provided above is an idea and does not constitute investment advice or trading recommendations! No guarantee or liability assumed!
COINBASE:SOLUSDLong
by Rafi-S
1
Solana (SOL/USD): Bullish Prospects and the Potential for a $10KAn Elliott Wave Analysis As of today, BINANCE:SOLUSD is trading at approximately $263 per coin, and it's become clear from a technical perspective that the cryptocurrency is currently in the midst of an exciting journey within Elliott Wave Theory’s third wave. For investors and traders monitoring Solana’s potential, understanding this wave structure can offer significant insights into its future price trajectory, with a bold possibility that could see the price surpass $10,000 in the coming years — given favorable market conditions. Understanding Elliott Wave Theory and its Application to Solana Elliott Wave Theory is a popular and effective method of technical analysis that identifies recurring price patterns driven by investor psychology and market sentiment. In a typical market cycle, there are five waves in the direction of the trend (impulse waves), and three corrective waves against the trend. Wave 1 represents the initial surge, often unnoticed by the majority of market participants. Wave 2 is a correction or pullback. Wave 3 is typically the longest and most powerful of the impulse waves, driven by widespread adoption and market enthusiasm. Wave 4 brings about a minor correction, and Wave 5 concludes the bullish trend. Currently, Solana appears to be in Wave 3, a phase in which the price tends to expand considerably. This third wave, as per the theory, is usually the longest and most explosive, often surpassing the length of Wave 1. This offers a promising outlook for the SOL/USD trading pair in the medium to long term, especially as Solana continues to mature as a blockchain platform. Why the Third Wave is Crucial for Solana’s Potential The third wave of an Elliott Wave cycle is particularly significant for several reasons: Wave 3 is the longest – Historical price action shows that Wave 3 tends to be the most extended of the five waves in the cycle. If Solana is indeed in this wave, we can expect its upward momentum to be strong, pushing prices to new highs. Market sentiment – Wave 3 is driven by mass market participation, often following a period of increasing institutional interest, technological advancements, and favorable news. Solana’s growing adoption as a blockchain for decentralized finance (DeFi), NFTs, and decentralized applications (dApps) puts it in an ideal position to fuel this momentum. Potential for exponential growth – Given that Wave 3 is typically more robust and substantial than Wave 1, we could see Solana’s price extend into an uncharted territory, far beyond the current $263 mark. Solana’s Path Towards $10,000 Looking forward, if Solana continues its strong development, adopts newer technologies, and maintains robust network upgrades, the price could experience exponential growth. Historical patterns suggest that, when in the third wave, markets can experience significant price appreciation. If we extrapolate this logic, considering the magnitude of Wave 1 and Wave 2, and assuming Solana continues to solidify its place as a leading blockchain platform, the third wave might take the price of SOL above $10,000 per coin. Here’s why this is a potential scenario: Technological Innovation – Solana has distinguished itself as one of the fastest and most scalable blockchains in the crypto space. As the Solana ecosystem continues to evolve, new developments such as the potential for Solana to become a key player in the DeFi and NFT sectors could increase its value drastically. Broader Market Adoption – If more institutional investors and users gravitate toward Solana as their blockchain of choice, the demand for SOL tokens will rise significantly, likely pushing the price even higher. This will be especially true if Solana attracts more decentralized finance projects or integrates with other major platforms. Favorable Political and Economic Environment – The cryptocurrency market’s long-term growth potential depends largely on regulatory clarity and broader political factors. If political environments remain favorable, particularly in key regions such as the US, Europe, and Asia, Solana could benefit from increased adoption. Continued DeFi and NFT Growth – Solana’s blockchain has seen growing use in both the decentralized finance (DeFi) and NFT spaces, with more projects launching on its fast, low-fee network. If these trends continue, demand for Solana's native token could continue to grow, helping to push prices higher. A Long-Term Perspective While it's important to note that cryptocurrency markets are highly volatile, and predicting the exact price of Solana years down the road remains speculative, it’s clear that if Solana continues to develop, and the market conditions align favorably, it could see incredible price growth. The current formation of the Elliott Wave structure on the monthly timeframe suggests that Solana might just be at the beginning of an incredibly bullish phase, with the third wave offering massive upside potential. The price target of $10,000 for Solana may seem lofty at first glance, but considering that Wave 3 tends to be the longest and most powerful phase in an Elliott Wave cycle, such a scenario becomes feasible over the long term. For now, traders and investors should keep an eye on the ongoing price movement and macroeconomic factors that could help shape Solana’s future trajectory. Conclusion The Solana/USD pair is currently in the midst of the third wave in Elliott Wave Theory, which historically is the most powerful and lengthy of the impulse waves. Given Solana's technological advantages, strong growth in DeFi and NFTs, and favorable market conditions, there is a significant possibility that the price of Solana could exceed $10,000 in the future. However, it’s important to monitor the broader market sentiment, technological advancements, and political stability that will influence the trajectory of this crypto asset. For now, if you're holding Solana, the future looks promising, with the potential for massive returns over the coming years — provided the bullish momentum from Wave 3 continues to develop as expected. For research purposes only!
BINANCE:SOLUSDLong
by Adilforgood
5
SOLUSD SELL IDEAHere is a SOLUSD Sell Idea. After seeing significant buy pressure on Solana brough upon by BTC shooting to near $100k, I believe we will see a retest of previous support levels for few different reasons. There is alot of liquidity between $220 & $260 so those order are likely to get activated before the price continues to rise. As well as the time of the year. December is traditionally a rocky month for crypto and based on price action from years past a slower more bearish market is to be expected. ENTRY: 261 TP1: 245 TP2: 225 SL: 272
COINBASE:SOLUSDShort
by BigRichh
10
SOLANA (SOLUSDT): Great Buying OpportunityWe spotted a positive signal for bullish momentum on Solana's chart following a retest of a key daily resistance level that was recently broken. The price has formed a small ascending triangle pattern on the 4-hour timeframe. To confirm this signal, watch for the descending triangle pattern on the 4-hour chart. A strong confirmation would be a breakout above the horizontal neckline, indicated by a 4-hour candle closing above $245. Consider entering a long position aggressively or on a retest of the breakout. Target prices for this trade are $260, $280, & $300.
COINBASE:SOLUSDLong
by linofx1
1
Solana The dominant trend appears bullish, as the price consistently trends above the moving average and remains near or above the upper Bollinger Band. Support: Around $230–$240 (middle Bollinger Band and prior consolidation zone). Resistance: The recent high near $265. Bollinger Bands: Price retraction towards the middle band could signal cooling-off before resuming the uptrend. Volume: Watch for rising volume on breakouts above $265 or breakdowns below $230 for confirmation. Bullish Continuation: If price consolidates and stays above $240, it could aim for new highs beyond $265. Bearish Pullback: A breakdown below $230 may test lower supports around $200 or the lower Bollinger Band.
COINBASE:SOLUSDLong
by Sahrin