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SOL / TetherUS PERPETUAL CONTRACT

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SOLUSDT.P trade ideas

Massive Move Ahead #SOL's Next Bullish Breakout or Breakdown ? Yello, Paradisers! Could #SOL be on the brink of a major market move? Let's dive into the latest analysis! 💎#SOLUSDT is currently showing signs of a potential bullish continuation from a critical demand zone at $131.46. We've been closely monitoring #SOLANA as it follows a descending channel, and it recently broke above this formation, gaining momentum within this crucial demand area. If the price can maintain this upward momentum, a strong bullish move is highly probable. 💎For this bullish scenario to unfold, #SOL must break above the key resistance level at $134.95. A successful break of this resistance could trigger a significant rally, with the first target set at the internal resistance zone of $147.58. 💎However, caution remains essential! If the momentum falters at the demand zone, we might see a rebound from the lower support area around $127.98–$126.44. A daily close below this support zone would invalidate the bullish outlook and could pave the way for further declines. Stay sharp, Paradisers! Keep a close eye on #SOLANA's price action as the next move could be a game-changer🥂 MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Simon
Is Solana poised for a reversal?Solana’s (SOL) price has faced notable volatility in recent weeks, struggling to overcome resistance at $160. After multiple failed attempts to breach this level, SOL experienced a significant 20% drawdown towards the end of August. This decline has left many investors cautious, but recent shifts in behavior suggest a potential rebound. Key indicators now point to a possible resurgence in Solana’s price, raising optimism among traders and analysts. A key factor in assessing Solana’s potential recovery is the recent negative turn in the funding rate. This metric, which tracks the cost of holding positions in the futuresmarket, often signals shifts in market sentiment. Brian Quinlivan, Lead Analyst at Santiment, noted in an exclusive comment for BeInCrypto that the funding rate is turning negative. This indicates that the bearish sentiment may be reaching an extreme, which sets the stage for a rebound. Furthermore, the Chaikin Money Flow (CMF) indicator, which measures the cumulative flow of money into and out of an asset, has established a notable pattern for SOL. Currently, Solana’s price is trading at $132 after bouncing back from the support level of $126. For SOL to resume its upward trajectory, it must break through the local resistance at $137. Achieving this would pave the way for a push towards the $160 mark. Historical data shows that Solana has experienced similar consolidation phases between $126 and $160, suggesting a rise to this level could be next. The factors supporting this forecast are substantial, given that in the past, SOL around $126 has led to subsequent price increases. If SOL maintains its gradual upward momentum, the range-tested level of $137 could act as a springboard for further gains, making a rise to $160 possible.
Long
by paul_endeo
1
Solana's outperforming, but why is its price crashing?With a 19.14% drop last week, the price for the downtrend continues for Solana this week, with a 5.47% fall last night and breaking below the $130 mark. Further, the recent double-top reversal breaks the neckline at $138 near the 200-day EMA, and the SOL price tests the bottom support zone at $121. The demand zone at $121 has provided multiple bounce-backs for Solana since the start of 2024. However, the recent double-top reversal warns of a breakdown rally. Currently, the SOL price is trading at $127 with a Doji intraday candle following the bearish engulfing candle last night. With the long-tail formation, the underlying demand can result in a new bull cycle. In case of a bearish breakdown, the neck support level is at the $110 low and the $100 psychological mark. However, a broader market impact can result in a new low formation at the $85-$80 demand zone. On the flip side, based on the Fibonacci levels, a double-bottom reversal from $120 can find resistance at the 23.60% level at $140. A move above $140 can hint at an extended recovery for Solana.
by paul_endeo
SOL Price Update & Analysis in a Daily Timeframe.Hello everyone, I’m Cryptorphic. I’ve been sharing insightful charts and analysis for the past seven years. Follow me for: ~ Unbiased analyses on trending altcoins. ~ Identifying altcoins with 10x-50x potential. ~ Futures trade setups. ~ Daily updates on Bitcoin and Ethereum. ~ High time frame (HTF) market bottom and top calls. ~ Short-term market movements. ~ Charts supported by critical fundamentals. Now, let’s dive into this chart analysis: From our previous analysis, SOL failed to hold the 21 EMA support and the primary support at $150-$155. The price dropped by 15.5% and is currently holding at the support trendline of $130. SOL has strong support ranging between $120-$130, and it must hold this level to sustain and rebound back to the upper resistance trendline. A failure to hold this support will be concerning and a red alert for traders. Key levels: - Crucial Support/Accumulation: $120-$130. - Primary Resistance: 35 EMA at $146. - Target: $176-$180. - RSI: Bullish Divergence Formation. DYOR, NFA. Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see! Thank you! #PEACE
by Cryptorphic
1
Solusdt trading opportunityWe observed that a bullish formation for Solana has just been broken, which we believe will fuel the next major rally for the coin. This breakout signals a potential shift in market sentiment towards a bullish trend. The designated buy-back zone presents a strategic buying opportunity, as it is identified based on recent price action and support levels, offering a lower-risk entry point. This setup suggests that we could benefit from the anticipated upward movement while minimizing downside exposure.
by weslad
3