MAY 9 '24 - SOL - FORECAST MAY 9 '24 -SOL- FORECAST Leeetss Gooo!!! HAPPY TRADING!Longby EnviroElkUpdated 2
Solana/ U.S. Dollar _Under_ Trading _ Venue_ Coinbase: Solana/ U.S. Dollar _Under_ Trading _ Venue_ Coinbase: Once Retest is completed we will expect he following prices! Red area require a correct retest as a fake retest over the 3rd of May that supported over 30th of April! Should take 2 days for the Retest! If lower retest is not done then following strategy must be applied: (1) Prices require to confirmed above day 7 ( week 1) (2) Retest must hold within the key level of $154.69 (3) Further support confirmation over 8th, May. Then it's good for breakout and higher as below! Prices already confirmed as follow: New support over week 1= $160.20 $162.66 $163.83 $164.93 $165.69 $166.79 $167.14Shortby Skill-Knowledge-Conduct335
We are close to resistance area. Downwards now 😱 How to play ⏯️ Solana strategy in the current range? Short at resistance Right now we are approaching the resistance area of $162 which is a confluence resistance area with the 50 day moving average. Latest candle upside wick almost touched it and went down. Time to short into the resistance area Will you be shorting?Shortby JK_Market_Recap221
Solana Price surged 5% Despite Whale Activities Solana ( CRYPTOCAP:SOL ), a cryptocurrency, has experienced a 5% increase in value today, driven by significant on-chain activity and ecosystem growth. The market cap is down by 1%, but Solana's price has risen by 5.5% to $153, with a $69 billion market cap and a $3.2 billion 24-hour trading volume. The central driver behind Solana's recent success is its overtaken Ethereum in 24-hour on-chain trading volume, indicating growing interest in Solana's ecosystem. Solana consistently outperformed Ethereum in on-chain volume as it advanced toward its local highs in Q1 2024, but activity dropped in recent weeks. However, new data suggests momentum is returning, enabling today's strong performance. SOL has been displaying strength against Ethereum, with PaikCapital speculating that it could continue to outperform the second-largest cryptocurrency. Since then, SOL's value has increased over 3x compared to ETH's. Santiago R Santos, a renowned commentator, believes that Solana is the most retail-friendly chain, making memes should do well. As the SOL price increases, holders will take profits and rotate into smaller on-chain projects, vying to compound their gains. One of the hottest new Solana tokens is Sealana, a seal-themed meme coin that has raised over $250K so far. High-profile industry figures are also bullish, with Jacob Bury speculating that Sealana holds 10x potential and could be the "best crypto to buy now." Sealana is inspired by the foul-mouthed cartoon show South Park, reflecting a bright future for the new token. However, the Sealana presale has no predetermined hard cap, so potential investors must act quickly or risk missing out. Whale Alert, a platform tracking large crypto transactions, reported four significant transfers of Solana (SOL), igniting speculations in the crypto sphere. In the latest transaction, an unidentified whale transferred 298,000 SOL, valued at approximately $46.24 million, to Coinbase. Following that, another anonymous whale moved a staggering 1.56 million SOL, equivalent to around $242.26 million, to the same exchange. Speculations over the impact on Solana's price have ignited speculations regarding the motives behind these transactions and their implications for the broader market. Despite the massive transfers, the Solana price has maintained upward momentum today, with the Solana price up 4.55% and trading volume soared 79.72% to $3.14 billion.Longby DEXWireNews115
Solana (SOL) Finds Support, Eyes Return to $203 The cryptocurrency market has seen its share of volatility recently, and Solana (SOL) has been no exception. However, when we zoom out and take a look at the weekly timeframe, a clearer picture emerges. This article dives into SOL's recent price action and explores the potential for its next move. Solid Support at $149 A crucial observation from the weekly chart is the strong support level established at $149. Despite price fluctuations, SOL has managed to hold above this key area, even during periods where the price dipped momentarily below. This indicates significant buying pressure at this level, suggesting that many market participants view $149 as an attractive entry point. Range Bound The consistent bounce off the $149 support has led to the formation of a range between this level and $203. This price range reflects a period of consolidation, where buyers and sellers are temporarily reaching an equilibrium. The price action within this range suggests some indecision in the market, with neither bulls nor bears able to exert dominance. Looking Ahead: Potential Move to the Upside Given the presence of the established support level at $149, and the recent price holding within the defined range, there's a possibility that SOL might attempt a move back towards the upper range boundary of $203 in the coming days or weeks. This potential upswing could be fueled by several factors: • Increased Buying Pressure: If more buyers are attracted to SOL, particularly at current levels, it could push the price higher. This buying pressure could stem from renewed confidence in the Solana project, positive news developments, or simply technical factors related to the range itself. • Short Squeeze: If a significant number of traders are currently shorting SOL (i.e., betting on the price to decrease), a sudden shift in sentiment could lead to a short squeeze. This occurs when shorts are forced to buy back SOL to cover their positions, which can drive the price up rapidly. • Overall Market Sentiment: The broader cryptocurrency market sentiment also plays a role in SOL's price movement. If the overall market sentiment turns bullish, it could lift all cryptocurrencies, including SOL. Important Caveats While the potential for a move towards $203 exists, it's important to consider some factors that could prevent this from happening: • Failure to Hold Support: If the price breaks decisively below the $149 support level, it could signal a bearish trend and lead to further price decline. • Negative News or Events: Any negative news surrounding the Solana project or the cryptocurrency market as a whole could dampen investor sentiment and hinder a price increase. • Resistance at $203: Even if SOL reaches $203, it might face resistance at this level. Overcoming this resistance would require sufficient buying pressure to push the price through. Conclusion Solana (SOL) has found support at $149 and is currently trading within a range between $149 and $203. The coming days and weeks could see SOL attempt to move back towards the upper end of this range, potentially reaching $203. However, several factors could influence this possibility, and close attention should be paid to market sentiment, news developments, and price action around the support and resistance levels. Disclaimer: This article is for informational purposes only and should not be considered financial advice. It's crucial to conduct your own research before making any investment decisions. Longby bryandowningqln3
Solana breaking trendlineSolana looks like it's breaking the upward trendline. 4H chart indicates it's in a overall downtrend and bouncing right now from the 200 EMA Will be shorting now with SL above the previous high $150 and TP at the lowest DEMAND ZONEShortby Omar_El_TowayerUpdated 226
Solana - $700+ EW Macro Target 2024- EWP Wave 5 impulse to start in coming days/weeks. - Target is 700USD+ before YE'24 - Global liquidity is forming a contracting falling wedge pattern, expected to break to upside in coming days/weeks, supporting upside volatility in risk assets.Longby SMShehab4427
UPDATE WITH CORRECTION of higher high and higher low sol/usd in trendline and fib retracement highrt high and higher lowLongby TLovers0
solana /usd entry limit with fib retracement sol/usd buy limit at 143 confirmed with entry on fib retracement 0.38Longby TLovers2
SOL USD IDEALooking for a coil, if breaks support 135$ or $125 then it is no longer a valid ideaLongby Stop_Loss_KingUpdated 224
solana higher high higher low as in dow theoryentry price ,stop loss and lot size in solana /usd in trending market according to doiw theoryby TLovers0
Sell Solana This idea uses elliott waves . Also it is wykoff pattern in smaller timeframes Use risk managment . Buy from bottom is better than sell nowShortby Dr_ihashemi67046333
SOLUSD Reversal pattern identified."Solusd looks poised for a downturn in this final higher high (HH), with RSI showing bearish divergence and a rising wedge pattern forming. 📉 Placing a sell stop order at the recent higher low (HL), setting SL at the recent HH, and TP with a 1:1 risk-reward ratio. TP2 targets the rising wedge's end. 🎯 This strategy follows technical analysis and risk management principles."Shortby Earn_withHassaan5
Solana daily chart break out 👀 Price target near $162Solana daily chart break out 👀 Price target near $162 Right now we have a breakout from the red downward sloping trendline. Next up resistance zone and 50 day moving average Will you Short at resistance?Longby JK_Market_Recap2
Shorting SOL... AGAIN!!!If I see a red candle closing below the supply zone, I will be shorting till the demand zone TP 137 SL will be above the highest wick above the supply zone, and then trail it down as we goShortby Omar_El_Towayer4
Solana, support levelsSolana formed a descending triangle pattern and has touched the support level. If this support is strong enough to withstand bearish movements, then the target is at level 144.83 or at the resistance pattern. However, you need to remember that this pattern is a bearish continuation pattern, which means that if this pattern breaks down, Solana will fall deeper. I will update this analysis if I find new key levels.Longby AzrulAzirUpdated 2215
Shorting SolanaGot the red candle I was waiting for, now I'm opening a short with a tight SL and TP at demand zone SL $142 TP $131 Let's see how it goes 👀 Shortby Omar_El_TowayerUpdated 112
SOLUSD (ANALYSIS).SOLUSD has recently formed a bearish reversal pattern known as a rising wedge. In alignment with this pattern, the RSI is synchronized with the price action, displaying no divergence, further confirming the potential bearish outlook. Consequently, it is advisable to consider placing a sell stop order below the recent higher low at 136.39, with a stop loss positioned at the recent higher high of 142.30. The profit-taking levels can be strategically set at TP 1: 129.22 and TP 2: 122.13, respectively. This structured approach integrates technical analysis with risk management, fostering a disciplined trading strategy aimed at capitalizing on the anticipated downward movement.Shortby Earn_withHassaan1
Solana Price Pumps 7% as Solana-Based Token POPCAT Hits New ATHSolana ( CRYPTOCAP:SOL ) has become the top performer among the top 10 crypto tokens, with Popcat (POPCAT) hitting a new all-time high of $0.6100 and market capitalization upwards of $577.58 million. This surge is attributed to the growing popularity of projects launched on the CRYPTOCAP:SOL blockchain, which have consistently posted remarkable success. Meme coins on Solana, including Dogwifhat ( CRYPTOCAP:WIF ) and Bonk Inu ( SEED_DONKEYDAN_MARKET_CAP:BONK ), have also seen significant growth, with CRYPTOCAP:WIF dethroning Pepe coin ( CRYPTOCAP:PEPE ) before reclaiming its position as the third meme coin on market capitalization metrics. A new meme coin class is emerging: cat-themed tokens. Popcat ($POPCAT) is the biggest gainer on Thursday with almost 30% in gains, hauling the altcoin to a new all-time high of $0.6100 and market capitalization upwards of $577.58 million. Jito ( CRYPTOCAP:JTO ) has become the largest Solana protocol on TVL metrics at $1.43 billion, representing a TVL growth of over 12% in 24 hours. A rise in TVL generally indicates that more assets are being deposited and locked into the DeFi protocol, indicating growing user participation and confidence in the platform. This may also indicate increased liquidity and trading volume within the protocol, potentially leading to higher returns for users and a stronger ecosystem overall. Technically, Solana's daily price chart depicts a start of a "Rising Wedge" Pattern but for the pattern to be accentuated, Solana has to break the ceiling of the rising wedge to spark investors' confidence.Longby DEXWireNews2
$SOLUSD The Leap Should Be CancledAs noted in my Tradingview status, I have decided to stop actively trading The Leap Tradingview contest in light of the massive fraud perpetrated by COINBASE:SOLUSD This contest having limited position sizing, tight restrictions and a list of 6 mostly unsuitable tickers to trade has recently lost its appeal. While I agree the contest can be maintained, due to the limited position sizing and COINBASE:SOLUSD being the only "Bang for your Buck" ticker to trade, I have shorted all tickers except FX:EURUSD and exited any regular trading activities in favor of seeing what happens. There is a storm on the horizon and having such a disreputable ticker as one of the primary sources of decent gains leaves me to believe Tradingview is not serious about this competition. Tradingview needs a broad spectrum of stable tickers to trade and increased positions sizing at a minimum. In my view while the contest is certainly able to be managed by skilled traders. However the amount of time and involvement needed to "Day Trade" these tickers nearly 24/7 make this an unrealistic trading environment for the average trader. That combined with and the most notable primary source of capital gains being COINBASE:SOLUSD and this ticker also being a completely manipulated Fraud, makes this contest even more unrealistic. As such my price target for COINBASE:SOLUSD is now 0.00Shortby Midgar-1
For now SOLUSD is retesting invh&s neckline as precise supportA good sign that the bottom could potentially be in. Of course there’s always the possibility of some sort of unexpected bald swan to dump the market much further, but even then that could be such a temporary occurrence that by the time the weekly candle closed it still closed the candle body above this neckline. At the bare minimum I get the vibe that at least the monthly candle body can maintain this neckline as support, but we will find out soon enough. *not financial advice* by DrDovetailUpdated 118
SOLSimilar idea to DOGE Deviated beneath giga support to grab liq Runs it bacc to highs in coming weeksLongby jhonnybrah112