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SOLUST trade ideas

Strong Reasons Why Solana will Rise Above $140 LevelSolana (SOL) is currently trading around $140, showing an upward trend since October 2023. Analysts predict that the next key target price for SOL is around $294. Several factors within the Solana network, along with broader crypto market trends, are driving this recovery. On March 24, SOL gained 8.5%, briefly surpassing $142. This price increase aligned with a general market rally, as traders became more optimistic about economic conditions. Memecoins also surged, with some gaining over 12% since March 23, showing a growing risk appetite among investors. Apart from market-wide movements, Solana has unique strengths fueling its rise. One major factor is increased activity on its blockchain. Additionally, former U.S. President Donald Trump's involvement in the memecoin market has sparked further interest. Moreover, anticipation of a spot Solana exchange-traded fund (ETF) has attracted top traders, suggesting SOL could see more gains ahead. Despite this, SOL has underperformed compared to the overall crypto market by 23.7% over the past two months. One reason is the sharp decline in network fees, which dropped by 93% in that period. This decrease started when traders lost interest in memecoins, but it later spread across Solana's decentralized applications (DApps). Currently, SOL is still 52% below its all-time high of $295. However, many traders believe the selloff might have been excessive. Solana remains the second-largest blockchain in terms of total value locked (TVL) and ranks third in on-chain transaction volumes. In comparison, Binance Coin (BNB) is down 20% from its peak, and XRP is 28% below its all-time high. Solana’s competitors, such as Tron and BNB Chain, also have strong on-chain activity. However, Solana’s smart contract deposits are valued at $6.8 billion, making it one of the leading networks. In contrast, BNB Chain holds 21% less TVL, with $5.4 billion. Solana’s key projects, such as Jito (a liquid staking solution), Kamino (a lending and liquidity platform), and Jupiter (a decentralized exchange), continue to support network activity. Another positive sign is the increase in Solana’s transaction fees. The network now generates more than $1 million in daily fees, surpassing Ethereum’s base layer. Recently, Solana’s revenue hit its highest level in two weeks, suggesting the market downturn might have bottomed out. Ethereum, by comparison, collected under $350,000 in fees on March 23. As a result, its supply increased because its burn mechanism could not offset weak blockchain activity. Meanwhile, Solana offers a 7.7% native staking reward, outpacing its 5.1% inflation rate, making it attractive to long-term holders. Another driver of SOL’s recent momentum is speculation about a Solana ETF. The U.S. Securities and Exchange Commission (SEC) is expected to decide on this by the end of the year. If approved, a spot Solana ETF could legitimize the asset, especially among institutional investors. Additionally, a recent social media post by Donald Trump mentioning the TRUMP memecoin sparked a wave of excitement. In response, several Solana-based memecoins saw double-digit gains, including Fartcoin (up 15%), Dogwifhat (up 12%), and Pudgy Penguins (up 12%). Overall, SOL’s price outlook remains promising, supported by strong network activity, rising fees, and bullish sentiment from top traders.
Long
by SupertradeOfficial
Solana Elliott Wave Analysis – Last Low Before Reversal?MEXC:SOLUSDT We are currently in a downtrend, looking for one final low before a counter-move takes place. In my chart, we are in a blue (4) to blue (5) wave. Within this wave count, I am now looking for an ABC structure, which will lead us to the blue (5) wave. At the moment, we are in the yellow A-B-C wave, approaching the end of yellow C, which is expected to top out around 148 USDT. After that, I anticipate a red A-B-C correction, bringing us first to 129 USDT, before a possible move up to red C at 170 USDT. 🚨 Key Levels & Indicators: If the price reverses at 170 USDT, I would consider the green wave count active. However, if we break above the white line at 180 USDT, the bearish trend is invalid, and bulls take control. A short-term pullback is expected between 147–148 USDT (max. 149 USDT) – there might be small overshoots, so don't set stop-loss too tight. RSI is currently overextended, sitting around 75, which indicates the market is heavily overbought. The MACD is also showing a potential reversal point, further supporting the idea of an upcoming correction. Overall, we are in a very overbought market, and signs of a reversal are building up. I'll be watching closely to see if the market is still acting bearish – stay sharp and trade safely! 🚀
Short
by ElliotXSolana
Solana Elliott Wave Analysis – Last Move Before Trend Reversal?We are currently in the final phase of wave 4 to 5, forming an A-B-C corrective structure. Based on this, we could see another turquoise A-B-C wave, which might develop into an impulsive 1-2-3-4-5 setup. If this setup plays out, I expect a potential trend reversal. The target zone around 107 USDT could be strongly breached to the downside due to high trading volume in this area. Caution is advised! Alternative Scenario: There is also a red scenario, in which our red (1-2-3-4-5) formation, leading into a smaler (1-2-3-4-5) structure, which could also take us to the 107 USDT target zone. Good luck with your trades! 🚀
Short
by ElliotXSolana
7
Nothing !!!Currently, SOL is forming an ascending triangle, indicating a potential price increase. It is anticipated that the price could rise, aligning with the projected price movement (AB=CD). However, it is crucial to wait for the triangle to break before taking any action. Give me some energy !! ✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us. Best regards CobraVanguard.💚 _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
4
solonaAnalysis: The price has shown significant volatility, with a notable peak at 258.62 USDT. The projected high of 392.77 USDT by mid-2025 suggests a bullish long-term outlook. The immediate resistance at 157.93 USDT is a key level to watch for potential breakouts. Support at 128.98 USDT is crucial; a break below this level could see the price testing lower supports at 90.22 USDT and 50.00 USDT. Recommendations: For Traders: Consider buying near support levels (128.98 USDT and 90.22 USDT) and selling near resistance levels (157.93 USDT and 249.70 USDT). For Long-term Investors: The projected high of 392.77 USDT indicates potential for significant growth, making it a candidate for long-term holding. This analysis is based on the currently available information and data. It should be supplemented with additional technical and fundamental analysis for more accurate trading decisions."
by famousFinance54964
SOLANA'S ASCENDING TRIANGLESolana is forming a textbook ascending triangle on the 4-hour chart, which is generally considered a bullish pattern. Ascending triangles are characterized by higher lows (signaling increasing buying pressure) and a flat resistance line at the top – in this case, around $136. The structure indicates that buyers are stepping in at progressively higher levels, tightening the price action into a wedge. If Solana breaks out above the flat top with volume, the measured move target would be calculated by taking the height of the triangle and adding it to the breakout point – which could easily send Solana toward $160 or higher. However, the 50 MA (blue line) is acting as resistance right now, which means bulls need to reclaim that level first to build momentum. A breakdown below the rising trendline would invalidate the bullish setup and could lead to a retest of the $120 zone. For now, the structure remains intact, but a decisive move is coming soon. Price can break support and still remain a technical ascending triangle - as long as we continue to see higher lows. Traders generally wait for a break of the flat resistance on top, so keep this one marked.
Long
by ScottMelker
1
Solana’s Cup-and-Handle Setup: A Bullish Trap or Opportunity?Recent analysis suggests Solana (SOL) is forming a large cup-and-handle pattern, with a potential false breakout on the fifth wave before a flash crash in mid to late April. Some traders believe this correction could set the stage for a stronger breakout on the seventh wave, possibly pushing SOL past its current pattern high and toward the upper boundary of a broadening wedge formation. Despite short-term volatility, this multi-year structure supports a long-term bullish outlook. In the near term, market structure remains uncertain, with SOL facing downward pressure despite bouncing from $120. While this level has historically been strong support, the depth of the correction and multiple broken levels suggest caution. Analysts remain divided on the next move—some expect consolidation between $120 and $180, while others warn of a potential drop to $80 if market conditions worsen. Monitoring key support and resistance levels will be crucial for traders navigating the next phase.
Short
by paul_endeo
SOL/USDT BIG PUSH DOWN....ELITE ZONE RETURN?The price made a bigg fall...but since the price usually doesn't just fall and keep falling but makes retracements there is a possibility for the price to actually return to the middle zone where it could then bounce and continute the fall...but overall it is very close to the bottom so it could first then bounce from the bottom zone and than make a return. Dont forget the return can be all the way to the zone OR...just a 50%retracement...so be carefull.
by EliteFxAcademy_CRYPTO
1