Solana Update: Holding $162 or Dropping to $147? Here’s the breakdown, fam – if SOL holds $162, we could see a move up to the $178-$184 take-profit zone. But if $162 doesn’t hold, expect a dip to $147 before trying for that same target again.
If $147 breaks, we could be in for a deeper bearish move. Stay sharp, manage your levels, and let’s see how it plays out!
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Mindbloome Trading
Trade What You See
SOL
Four Horseman of Defi !?Defi is dominated by four sectors. Chains. Staking. Dexs. Lending. Those four sectors cover majority of crypto space today. Together they create a liquid financial market. Tomorrow they may help spawn an emerging sector like ai, gaming, metaverse, nft, depin, etc into a dominate industry.
Unfortunately for many those emerging sectors have yet to become dominate day to day within crypto or outside of crypto.
For now we have chains, staking, swapping and lending.
We have four chains that are widely available on centralised exchanges. Ethereum, Solana, Sui and Avalanche.
The four assets listed here cover all four widely available high performing chains in all four high performing sub sectors.
BenQI is the high performing lending protocol on AVAX.
Uniswap is the high performing dex on Ethereum (and defi space as a whole).
Sui is the high performing growth layer 1 chain leading after the big3 (eth, sol and bsc).
Jito is the high performing staking protocol on Solana.
Ducks in A Barrel Long Setups - BTC, SOL, TON & PADISCLAIMER: This is not trade advice. This for educational purposes only to show how I am looking to participate in these markets. Trading involves significant risk, do your own homework and due diligence.
Ducks in a Barrel Weekly-Daily Strategy
LONGS: BTC, SOL, TON
SHORT: PA
LONGS:
The crypto market is overall in a strong up trend based on weekly MA's sloping up. We see that BTC, SOL & TON are undervalued vs the price of Gold and Treasuries, and are oversold on stochastic. If we see a trend change to the upside on the Daily chart, I'll look to long these markets. I admit, I'd like to see sentiment more bearish, as currently sentiment is in the middle of the road. Perhaps one more flush to the downside would create some panic and bearish sentiment, which would make this trade idea even more valid.
SHORTS:
Palladium is in a strong weekly downtrend. Right now we are overvalued vs treasuries, but not yet overvalued vs gold or overbought. I'd like to see this market get overbought & overvalued vs gold to qualify looking for shorts on the daily time frame.
Good luck & Good trading.
Solana : WHICH WAY Could it go??Solana was one of my TOP PICKS for alts in 2024.
Second to Ethereum, the SOL space keeps growing as more and more dApss are being built on SOL. The market cap for Solana is looking healthy, after recently peaking at $93B:
This is an incredible achievement, and I expect the market cap to continue to grow in the longer time. Naturally, we can expect SOL to continue growing when the price of BTC starts another impulse wave up. My thoughts on that HERE👇:
Until then, don't lose hope just yet! December is usually a great time for the crypto markets.
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CRYPTOCAP:SOL COINBASE:SOLUSD
SOL - Open interest increased by 30% - big move is coming!SOL - Open interest increased by 30% - big move is coming!
Price already did 54% rise that's why i would be so happy to see some SL hunt before and only after big rise
best plan for SHort
Price should make BIG sl HUNT ABOVE $185
kEY AREA for LONG $130 - $140 area
SOL long short term?Hello everyone,
Solana is showing good signs of bullishness short term. However, even if there is a continuation bullish pattern in place, this might not be bullish due to the current market situation.
Do not buy until a clear breakout is in place as well as having a clear understanding of what the next major trend is going to be.
Seb.
SOLUSDTUnderstanding the Head and Shoulders Pattern in SOL/USDT
What is the Head and Shoulders Pattern?
The head and shoulders pattern is a classic technical analysis formation that signals a potential reversal in the trend. It consists of three peaks: a higher peak (the head) between two lower peaks (the shoulders). This pattern is often used by traders to predict a shift from a bullish to a bearish trend.
Breakdown of the Pattern
Left Shoulder: The price rises to a peak and then declines.
Head: The price rises again to a higher peak, forming the head, and then declines once more.
Right Shoulder: The price rises once more but to a peak similar to the first peak and then declines again.
The neckline, drawn by connecting the lowest points of the two troughs, is a crucial support level. Once the price breaks below this neckline, it confirms the pattern and suggests a potential bearish move.
Current Situation in SOL/USDT
Solana (SOL) has recently completed a head and shoulders pattern and has broken below the neckline. This indicates a potential bearish trend reversal, making it an interesting short trade opportunity.
Expected Returns
If the head and shoulders pattern fulfills, traders could expect about an 8.35% return on this short trade. This return is calculated based on the height of the pattern from the head to the neckline, projected downward from the point of the breakout.
Technical Analysis Insights
Inverse Head and Shoulders Pattern: For context, the inverse head and shoulders pattern is the opposite and signals a bullish reversal. Currently, SOL's formation is a standard head and shoulders, indicating a bearish outlook 2.
Support and Resistance: Key resistance levels are around $150.77 - $158.89, with significant support around $118.69 - $120.00 2.
Risk Management
Risk management is crucial in trading. Always use a stop-loss to limit potential losses. For this trade, setting a stop-loss slightly above the neckline can help manage risks effectively.
Conclusion
The head and shoulders pattern in SOL/USDT suggests a possible bearish trend with an 8.35% return on a short trade. As always, conduct your own research and consider your risk tolerance before making any trading decisions.
Further Reading
Technical Analysis Basics: For those new to technical analysis, understanding the basics can provide a solid foundation.
Risk Management Strategies: Implementing effective risk management can help protect your capital in volatile markets.
By understanding and utilizing these patterns and strategies, traders can better navigate the complexities of the cryptocurrency market.
Note: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research before making any trading decisions.
Solana - take trade after big SL huntSolana - take trade after big SL hunt
my Major plan is short at 145 after some SL hunt
Reasons - trend is still down and price should take LOW of a range 115 area
Longs better to take After big SL hunts at 110 - 120 area
In the end better to watch full analysis and take trade
Solana - TREND Indicators BEARISHUsing a Technical Indicator here which I use mainly to determine trend swings from a macro perspective. At least for the short term, SOL is bearish.
We've lost a long standing trendline that has held since October 2023, which is around the time that the bullseason started.
This will all largely depend on what BITCOIN does in the short term - more info on that HERE:
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COINBASE:SOLUSD
SOL: Thoughts and Analysis Today's focus: SOL
Pattern – Support Test
Support – 123.50
Resistance – 140.36
Hi, traders. Thanks for tuning in for today's update. Today, we are looking at SOL on its daily chart.
Few things to watch, key support being the main one. Will we see a bounce or a break? If we see a bounce with this, then contnue the overall descending triangle pattern.
Good trading.
SOL Solana Technical Analysis and Trade Idea 📊 In our latest video, we delve into two SOL (Solana) options: a strategic entry point for dollar-cost averaging if you’re accumulating SOL, and an intraday trade concept tailored for active traders. As usual, the video provides insights on my trade entry points, trend analysis opinions, market structure, and price action. Remember, this content is educational in nature and not intended as financial advice. 📈 🚀
Solana - Why You NEED THIS Indicator📢COINBASE:SOLUSD
SOL is flashing some bullish signs on the indicator and it seems that we're gearing up for another move towards the upside. This is the indicator that I used to call the new BTC bullish cycle in November last year, as seen below:
In 3 short minutes, we'll discuss the functionality of this technical indicator and why it's really helpful when monitoring the market.
Make sure you don't miss my most recent update on BTC, and why I say another ATH is imminent:
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SOL Solana Invest Or Trade - Technical Analysis and Trade IdeaIn this video we cover two SOL (Solana) options, an entry point if you are looking to dollar cost average in as an investor, and a scalping and or intraday trade idea if you are looking to trade this. As always the video covers my trade entry points my opinion in terms of the trend, market structure and price action, and as always this information is educational in nature and not to be construed as financial advice.
🔥Top-3 Altcoins You Would Never Find: My Portfolio x10🚀🔥 Altcoins can bring you much more profit then Bitcoin if you understand which altcoins to pick and how to do it properly. That's what this video is about. Enjoy!
Of course, this strategy works for altcoins only at Bitcoin bull market. We will discuss how to identify it in the next video ideas. Subscribe!
🎁 Check my trading ideas for the altcoins that are still at the bottom!
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🔥TON: Listing On Binance And $20 Soon❓It's Worth to Buy NOT🚀🔥 A lot of expectations about Toncoin and Notcoin listing on Binance.
Is it worth to but TON now and wait $20 on possible Binance listing?
3 ways to withdraw your NOT from Telegram
Do you need to buy NOT streight after the listing?
These are the topics that most traders and investors are interested in. This is exactly what I talked about in detail in the video!
🎁 Check my trading ideas for the altcoins that are still at the bottom!
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🔥WHAT EXPECT FROM BITCOIN IN SUMMER 2024❓99% ACCURACY❗️🔥 Bitcoin reaches the most boring period on any market. It's a vocation period for US stock market and for crypto market as well (JUNE-AUGUST).
But will the market be as calm as many expect? A Bitcoin rally to new all-time highs (ATH) near 150,000 or a -50% dump? What will be with altcoins price and which one have best growth potential? Discover in this video!
🎁 Check my trading ideas for the altcoins that are still at the bottom!
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SOLANA - $600 on the Cards?👀📉Hi Traders, Investors and Speculators of Charts📈
Solana has made some great increases, and it's retraced back to support levels. I've been bullish on Solana since the beginning of 2024, when SOL was still sub $100. Take a look here at other altcoins that we've been watching:
By looking at the Drop-and-Pop fractal we've been watching, we can conclude that for the short term, the support zones should hold at $140, with wicks as low as $120. When incorporating this into Elliot Wave Theory, our next impulse up (wave 4-5) should take us to roughly $290.
But it doesn't end there. When we zoom out, and view the chart from a macro perspective, we see a different structure of Elliot waves... We're possibly still in wave 0-1! And if we use the same Elliot wave ratios to calculate wave 5, (% of wave 1 OR 161.8 x wave 1 length) then wave 4-5 takes us even beyond $600.
It's important to note though, that this is a multi-month and potentially multi-year target. Although SOL has previously increased 500% in a few weeks, the markets are more mature than they were in early days with many more adopters and institutional investors joining the game.
If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets.
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COINBASE:SOLUSDT BINANCE:SOLUSDT