$SOLUSD breaks out of base SOL is breaking out of base after 16 April. Looks like it will continue it's uptrend. Longby Silverbullet121115
SOL/USD 1-Day Chart - Unclear Direction with Bullish and BearishThe SOL/USD 1-day chart presents a complex technical picture, with both bullish and bearish signals vying for dominance. Let's delve deeper into the observed patterns: Possible Bullish Pennant Transformation: The analysis suggests the chart might be exhibiting a tight bullish pennant pattern. This pattern typically forms after a strong uptrend and indicates a potential continuation of the uptrend. However, it's crucial to note that the pennant seems to be morphing into a descending triangle. Descending Triangle - A Bearish Signal: Descending triangles are generally considered bearish continuation patterns. They form when resistance levels trend downward, and support levels trend slightly upward, creating a triangle shape. A confirmed breakdown below the support level of the triangle signals a potential downside move. Zone of Indecision: The current price action suggests a zone of indecision between bulls and bears. The price is hovering near the $173 support level, making it a critical zone to watch. Potential Breakout Scenarios: Downside Breakout: If the price breaks below the $173 support level and a daily candle closes below this level, it could signal a bearish breakout from the potential descending triangle. This breakdown could lead to lower targets in the $130s or even lower. Upside Breakout: Conversely, if the price rallies and closes above $202, it could signify a bullish breakout from the pennant formation. This breakout could propel the price towards higher targets potentially exceeding $300. Important Considerations for Further Analysis: Confirmation is Key: Both the potential bullish pennant breakout and the bearish descending triangle breakout need confirmation with volume and price action. Higher volume on a breakout strengthens its validity. Volume Analysis: Monitor trading volume. Higher volume on a breakout strengthens its legitimacy, while lower volume suggests a weaker breakout that might be susceptible to reversal. Technical Indicators: Consider incorporating technical indicators like RSI (Relative Strength Index) or MACD (Moving Average Convergence Divergence) to gauge momentum and potential overbought/oversold conditions. These indicators can help identify potential entry or exit points during a breakout. Fundamental News and Events: Stay informed about relevant news or events impacting Solana's price. Developments within the Solana ecosystem or broader market trends can influence the price movement. Longby ParabolicPUpdated 1112
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.Longby Coinpedia-Market-Insight1110
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.Longby VantageMarkets1110
SOLANA At 2:37 am today, the cryptocurrency market experienced its most catastrophic crash in history, yet it has gone largely unnoticed... for now. The silence is deceptive, as the ramifications of this event will soon resonate throughout the market, leaving no investor unscathed. The clock is ticking, and the world is about to witness a seismic shift in the crypto landscape.Shortby SkymForex0
Solana Stumbles at $190: Can the Rally Hold?Solana (SOL), a prominent blockchain platform known for its fast transaction speeds, faces a hurdle in its current price uptrend. Despite a 5% rally on , on-chain data suggests challenges that could hinder SOL from decisively surpassing the $190 resistance level. Let's delve into the factors contributing to this hesitation. Resistance at $190: A Psychological Barrier The $190 price point represents a significant psychological barrier for SOL. It previously acted as a support level in early 2024, but after a period of decline, it now presents resistance for the bulls trying to push the price higher. Breaking through resistance levels often requires significant buying pressure. If buyers are hesitant or lack conviction, the price can struggle to overcome this hurdle and may even fall back. On-Chain Data Paints a Mixed Picture While the price action shows a short-term upswing, on-chain data, which analyzes activity on the Solana blockchain, paints a less clear picture. Here's a breakdown of two key metrics: • Network Activity: Recent data suggests a stagnation in Solana's network activity compared to its competitors. While SOL's price rose, the number of transactions and active users haven't seen a proportional increase. This could indicate a lack of organic growth and user adoption, which are crucial factors for sustained price appreciation. • Impact of Inflationary Proposal: A proposed change to Solana's tokenomics, SIMD-0096, has sparked debate. While some argue it will increase network security, others believe it could lead to higher inflation for SOL. This uncertainty might be discouraging some investors from entering the market. External Factors Affecting SOL The broader market sentiment also plays a role in SOL's price movement. The recent approval of an Ether (ETH) exchange-traded fund (ETF) in the US may have drawn some investment away from alternative blockchains like Solana. Investors may be shifting their focus towards established players like Ethereum, potentially impacting SOL's short-term momentum. What to Watch Out For For SOL to overcome the $190 resistance and maintain an uptrend, several factors need to be monitored: • Network Activity: A significant increase in transactions and active users on the Solana network would be a positive sign, indicating organic growth and potential for further price appreciation. • Clarity on Inflationary Proposal: If the community reaches a consensus on the SIMD-0096 proposal, and its impact on inflation is well-understood, investor confidence in SOL could improve. • Overall Market Sentiment: A positive performance by the broader cryptocurrency market would create a tailwind for SOL, potentially aiding its breakout above $190. Conclusion Solana's recent price rally is encouraging, but the resistance at $190 and mixed on-chain data pose challenges. Network activity, the outcome of the inflationary proposal, and overall market sentiment will be crucial factors to watch in the coming days and weeks. If SOL can overcome these hurdles, it could pave the way for a more sustained uptrend. However, if the price falls back from $190, it may indicate a need for more fundamental developments to drive long-term growth for the Solana ecosystem. Longby bryandowningqln0
Solusd buyBreakout to the upside, liquidity grab on the bottom and now it's going up, no more usd hikes so no surprises, bullish market structure, order book is rebalanced, reaction at the support line, Longby seanstone12240
Solana long set uphey just posting another idea for a long set up sunday morning. hopping in at 163.35. stop lost 160.55 tp top of the range. good luckLongby lobsterkiller2020
SOLUSD-DIVERGENCE ON 5-30 Minutes TimeframesNote: 2D: RTM Pattern, Solana has been Lagging behind, and today it tested the Previous 2 Days Low, small time frame especially 5 Minutes played and Buy Divergence for Early buys at the support level Expecting Solana Retracement play todayLongby Jeremiah_Capital0
$SOL where to from hereObserving a pinch between 8 EMA low and 21 EMA. Look positive but need to see it bounces off from here. Usually this run ends with a second surge lower than the first which is observed here. by Silverbullet1210
SOLUSD-TURTLE SOUPSupport level tested 3 times and, fake out made by the current leg forming cross through the box , expecting continuation by Jeremiah_Capital0
Should You Long SOL on Solana ETF Rumors? A Deep DiveCNBC's Brian Kelly, a crypto investor and "Fast Money" trader, recently ignited a debate by suggesting Solana (SOL) could be the next cryptocurrency to get a spot exchange-traded fund (ETF) in the US. While this news might sound bullish for SOL, the decision to "go long" – meaning buying and holding for a price increase – requires careful consideration. Here's a breakdown of the factors to weigh before diving into SOL based on ETF speculation. Potential Benefits of a Solana ETF • Increased Accessibility: An ETF streamlines the process of investing in SOL. Unlike buying directly on crypto exchanges, which can be intimidating for new investors, an ETF would trade on traditional stock exchanges. This could attract a wider audience and potentially drive up demand for SOL. • Enhanced Liquidity: ETFs generally trade with higher daily volume compared to individual cryptocurrencies on exchanges. This increased liquidity could benefit SOL by making it easier to buy and sell without significant price fluctuations. • Boosted Credibility: SEC approval of a SOL ETF would provide a significant stamp of legitimacy for the project. This could attract institutional investors who are often hesitant to enter the unregulated crypto market. A potential influx of institutional money could significantly boost SOL's price. However, Don't Get Carried Away Yet • Uncertain Approval Timeline: While Kelly's prediction sparked a conversation, it's important to remember it's just speculation. The SEC has not officially confirmed plans for a Solana ETF, and the approval process could take months or even years. • Regulatory Hurdles: Just like with Ethereum ETFs, the SEC might raise concerns about potential market manipulation or the underlying technology of Solana. These hurdles could delay or even derail the approval process. • ETF Structure Matters: The devil is in the details. Not all ETFs are created equal. Some might hold actual SOL, while others might use derivative contracts. The specific structure of the proposed ETF will significantly impact your investment exposure. Alternatives to Consider • Direct SOL Purchase: If you're confident in Solana's long-term potential, buying SOL directly on a crypto exchange could be a viable option. However, ensure you understand the risks associated with managing your own crypto wallet. • Diversified Crypto Funds: Several investment funds offer exposure to a basket of cryptocurrencies, including Solana. This might be a good option for investors seeking broader diversification within the crypto market. Ultimately, the decision to "go long" SOL should be based on your individual investment goals, risk tolerance, and thorough research. Don't base your investment solely on ETF speculation. Analyze Solana's fundamentals, track its development roadmap, and stay updated on regulatory developments. Here are some additional factors to consider: • Solana's Recent Performance: While SOL has experienced significant growth in the past, its price can be volatile. Analyze its historical performance and understand the risks involved. • Competition within the Smart Contract Space: Solana faces stiff competition from established players like Ethereum and emerging projects. Research how Solana is differentiating itself and its long-term competitive advantage. • Your Investment Horizon: Are you looking for a short-term trade or a long-term investment? ETFs might be more suitable for a long-term approach, while direct crypto purchases could offer more flexibility for short-term trading (but with higher risk). Remember, investing in any cryptocurrency is inherently risky. Conduct your own due diligence and never invest more than you can afford to lose. Longby bryandowningqln0
Looking for longs on Solami CoinJust waiting for a tad bit more accumulation in this range. As referenced in the picture above. Green box = Buy breakout Red box = Sell breakout White box= Do nothingLongby jvn2_0
IF SOL BREAKS RESISTANCE THEN WE MAPPED UPSIDE TARGETSAlthough Sol is running into fierce resistance we will give the benefit of the doubt to the Bulls. If they break through we have mapped out next upside target and resistance. Are you betting on the bulls to break resistance or betting on the bears to fight back and hold the resistance line? Longby JK_Market_Recap1
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%.Longby CatalystEdge114
✴️ 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.Shortby AlanSantana5535
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. Shortby JK_Market_Recap1
Solana, reverse head and shoulders, yey or ney?Is what we seeing a pattern for going long? Wdyt? COINBASE:SOLUSD Longby ShayanTawabi4
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.Longby jhonnybrah114
Double bottom in sol/usdDouble bottom in sol/usd bearish reversal entry/buy stop -159 stop loss -119Shortby mktk19872
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 Longby EnviroElkUpdated 114
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.by billly4u1
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.by DEXWireNews3