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Solana

SOL: Pullback in UptrendTrade setup : Price is in an Uptrend. Pullback near $160 support and long-term up trendline ($143) could be an attractive swing trend entry in Uptrend, with +25% upside to $200. Stop Loss (SL) level at $140. Pattern : Pullback in Uptrend . Price remains in an Uptrend but has pulled back, which could present a 'buying dip' opportunity. Traders should look for the nearest support level where price could stabilize and resume its Uptrend. This support level could be a level where price bounced off of in the past, or a level that was previously resistance. (concept known as polarity).Learn to trade key levels in Lesson 3. Trend : Short-term trend is Strong Up, Medium-term trend is Strong Up and Long-term trend is Strong Up. Momentum : Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70). Support and Resistance : Nearest Support Zone is $160.00, then $125.00. Nearest Resistance Zone is $200.00.
Long
by altFINS
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.
COINBASE:SOLUSDLong
by bryandowningqln
PENG looks ready for the next leg up! A successful escape from the demand zone (green box) with increasing volume, and sticking to the fib levels, we could see this shit test the supply zone (red box) in the next few days. The penguin theme meta is booming on Solana, and PENG is especially prepared for this since it's available to be traded on centralized exchanges. DISCLAIMER: The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied by MysticMads. This is for educational purposes only.
Long
by MysticMads
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: ____________________________
COINBASE:SOLUSDLong
by CryptoCheck-
1
$SOL Long - King-Maker this CycleIf you have been following me, you know I have been tracking CRYPTOCAP:SOL since $8 CRYPTOCAP:SOL does everything CRYPTOCAP:ETH does, except at instantaneous speed and 0 transaction fees ( CRYPTOCAP:ETH takes 10 seconds+ and costs $10+ each transaction). I have been following this CRYPTOCAP:ETH fractal since $8 on CRYPTOCAP:SOL (see prior posts). We are in a clear up-trend. Up-Trends are your FRIEND in bull markets. Do not make this more difficult than it needs to be. CRYPTOCAP:SOL is going SO much higher. NFA GL HF. -@CryptoCurb
by CryptoCurb
1
🚧Solana is Ready for Correction🚧🔄This post is in line with the "🗺️ Solana Roadmap 🗺️" post that I shared with you a few days ago( in a daily time frame ). ⏰In this post, we go to the lower time frame to check the Solana(SOL) . 🏃‍♂️ Solana(SOL) is moving near the Resistance lines and 🟡 Potential Reversal Zone(PRZ) 🟡 in the 4-hour time frame . 🌊According to the theory of Elliott waves , Solana(SOL) seems to have succeeded in completing microwave 5 of the main wave C . ( If the Uptrend line breaks, we can confirm the end of the main wave C. ). 🔔I expect Solana(SOL) to go down to at least the Support line after breaking the Uptrend line . ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Solana Analyze ( SOLUSDT ), 4-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
10
SOL/USDT Secondary trend (part). Triangle. 1 10 2023Logarithm. Time frame of 3 days. Secondary trend (part). A very clear ascending triangle has been formed. The price is being driven to its resistance at the moment. There may be a pullback from it, and then we will see. While the price is in the triangle (until the decoupling), it is hardly rational to open a position from the position of risk management. The reversal zones are shown on the chart. Percentages of formation targets are similarly shown as most traders see them. To “take profit” you should always take less than “expected” by the majority. Line chart. Major trend. Time frame 1 week. SOL/USD Main trend. Cycles. Risk management XXX. . It is extremely important, on such HYIPs, over pumped (“bottom” is not even shown on the price chart, not fair competition, fund prices) to observe risk management. Take profit long/short and forget it. Work in parts of the position. Limit potential losses, protect profits if price moves according to your plan. Don't catch lows and highs, it's not necessary.
by SpartaBTC
37
Solana's Phantom Wallet Spike in Popularity, Surpasses Facebook Solana's Phantom Wallet, a popular app for accessing Solana's web3 ecosystem, has surpassed Facebook and ChatGPT in the Google Play Store's U.S. rankings. Currently ranked #11 behind Cash App and Snapchat in the free download category, it saw an estimated 770,000 downloads in April. Phantom Wallet, originally designed to hold only Solana ( CRYPTOCAP:SOL ) tokens, has since expanded to support Bitcoin, Ethereum, and Polygon. It also secured the third position in the Apple App Store's utility category, just behind Google and Google Chrome. In April, it reported over 7 million active monthly users, a sign of growing adoption. The token was trading just above $168, marking a modest 1.35% increase in the last 24 hours and a 16.9% jump over 30 days. Technical Outlook Solana ( CRYPTOCAP:SOL ) is down by 0.26% trading with a Relative Strength Index (RSI) of 54.48 which is poised for a trend reversal. Despite the token sale from FTX, Solana was able to retain the $160 support level.
COINBASE:SOLUSD
by DEXWireNews
2
ALTCOINS that are STRONG Right Now🚀Yesterday we took a look at altcoins that are not doing great - today we'll list a few alts tat are performing well and still have further upside potential. 👍 TRBUSDT 👍SOLUSDT If Solana can CLOSE above $150, it is highly likely that the Elliot Wave theory is still in place: 👍 RUNEUSDT 👍 BNBUSDT BNB is looking strong, it's likely we'll see a new ATH soon: 👍 FRONTUSDT _____________ BINANCE:DOGEUSDT BINANCE:RUNEUSDT BINANCE:TRBUSDT BINANCE:SOLUSDT BINANCE:BNBUSDT BINANCE:FRONTUSDT.P
Long
by CryptoCheck-
2
SOL/USDT planning bullish reversal from key support? What Next💎 Paradisers, get ready for a thrilling opportunity with #SOLUSDT as it displays signs of a potential bullish reversal from its support level. 💎 In the past, we've observed #Solana rebounding from support only to be halted by a strong rejection at the $159.64 supply level. Currently, the price is once again nearing the key support at $123.12, following an ascending support line. If it successfully reclaims this level and maintains momentum, there's a high chance it will embark on a bullish journey towards the robust resistance level of $204.64. 💎 As savvy traders, we must explore all possibilities. If the price of CRYPTOCAP:SOL fails to sustain its momentum at this key support and drops below, we anticipate a possible bullish rebound from the lower demand level at $105.92. This level has shown resilience thanks to significant liquidity, having previously upheld this demand zone. However, breaking below this level could lead to a substantial downward movement. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise
8
SOL Down 4% As FTX Bankruptcy Estate Concludes Solana Token SaleFTX's bankruptcy estate has completed the sale of $2.6 billion worth of Solana ( CRYPTOCAP:SOL ) tokens at significant discounts. Figure Markets and Pantera Capital were among the latest buyers, acquiring a block of 800,000 tokens for approximately $80 million, equating to about $102 per token. Solana ( CRYPTOCAP:SOL ) is down 3.3% on the day. Pantera Capital also participated in the auction, although the specific price paid remains undisclosed. Both the FTX estate and the involved firms did not immediately comment on the transactions. The liquidation of Solana ( CRYPTOCAP:SOL ) tokens has been a contentious issue in the FTX bankruptcy proceedings. While FTX creditors will receive full repayment plus interest, they will not regain their crypto assets, potentially missing out on future market gains. Earlier in May, FTX announced that the estate would have up to $16.3 billion to distribute, while it owes approximately $11 billion to over two million customers and other creditors. Pantera Capital aimed to raise $250 million to purchase Solana tokens from FTX in March, winning a batch of discounted tokens in April. Due to the token sale campaign, Solana ( CRYPTOCAP:SOL ) is down 4.54% at $168.14 with the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) showing impending bearish trend coming up.
COINBASE:SOLUSD
by DEXWireNews
2
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.
COINBASE:SOLUSDLong
by bryandowningqln
Solana Technical Analysis: Key Insights and Strategies 📉Current Market Position: Solana (SOL) has been in a parabolic movement but is currently losing momentum. If the weekly candle closes as it is now, there's a potential for breaking the curved trendline. Key Support and Resistance Levels: Critical Support at $100: If Bitcoin continues to drop and the market remains bearish for the next three months, SOL might reach this level. Immediate Support: Set a stop loss below $136. If this support breaks but turns out to be a false breakout, consider re-entering. Buying Strategies: Long-Term Hold: Buy after a breakout and stabilization above $205. Alternatively, wait for a reaction at the $100 support level before making a purchase. Recommendations for Holders: Stop Loss: Activate your stop loss below $136. Re-Entry Strategy: If the support break is false, re-buy SOL. Watch for Bitcoin's Movement: Solana's next significant move might depend on Bitcoin's performance. 👍 If you found this analysis helpful, feel free to like, comment, or share! For more insights, follow #Tradecitypro and #TCP 🚀#sol #solana 🔖 Categories: Technical Analysis, Risk Management, Long-Term Investment 📌 Stay tuned for further updates as the market evolves, and happy trading!
by tradecitypro
11
BONK to 25billion Market Cap 🔨Bonk Token's integration with the Solana blockchain is poised to bring significant traffic and a surge of participants to the Solana ecosystem. This token may create the same effect as Doge and Shiba. Main idea is simple... Bring as much as people from meme space... It's not a bad idea to buy each big correction if you missed the bottom just like many other people./not financal advice/ This token started with 5-10 millons of market cap. and it already exceed the 1billion. it's around 250x. So always be careful with playing such tokens. After correction this may go up to 25-50 billion USD market cap This is just a simple analysis to follow the track not a financal advice...
Long
by MinimumWagerLvl1
71
(SOLUSD) Crypto Market Liquidations Top $330 Million in 24 HoursCrypto Market Liquidations Top $330 Million in 24 Hours, Led by Ethereum As Bitcoin and Ethereum prices surged toward new all-time highs, short-term traders have borne the brunt of liquidations. In the past day alone, over $330 million was liquidated from the crypto market, primarily affecting short traders who anticipated a price decline. **Over 78,000 Traders Liquidated for $330 Million** Data from Coinglass reveals that the last 24 hours have been particularly harsh for crypto traders. More than 78,000 traders saw their positions liquidated, resulting in substantial losses totaling $330 million. Of this amount, 81.42%—equivalent to $268.76 million—came from short traders, while long traders accounted for $61.31 million in liquidations. Technically: The price is expected to test the support zone at 169.70 before pushing up again to reach the resistance zone at 192.72. Solana's price is likely to consolidate between 169.70 and 192.72 this week until a breakout occurs. Despite the consolidation, bullish pressure remains, aiming for 192.72 and 202.50. Long-Term Scenarios: Bullish Scenario: A breakout above 202.51 will initiate a new bullish phase, targeting 226.00 as the first bullish milestone. Bearish Scenario: Breaking below the support zone between 169.70 and 159.00 will lead to a drop towards 141.84 and potentially 126.00. Pivot Price: 179.20 Resistance Price: 192.72, 202.51, 226.42 Support Line: 169.70, 158.50, 142.50 The Movement range will be between Resistance 19272 and Support 169.70
COINBASE:SOLUSDLong
by SroshMayi
3