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Solanaanalysis

Bitcoin's Next Move, Solana Dumps From Memes & Unlocks, and MoreIn this video I cover Bitcoin's likely next move and why I sold my Bitcoin at $106k, plus where I think it bottoms and WHEN based on the next likely daily and weekly cycle low Feb 28th. Also price targets on Bitcoin, how and when it could get to $150k, why it dumps after that and after a summer correction, could rocket to $200k (examining the 11 factors to propel this). And we look at the longer term time frame for Bitcoin on the Monthly and 2 Month chart, where the RSI, Stoch/RSI, and MACD are showing early signs of topping out (but not likely there yet). I also revisit the USDT.D study I've been posting about, which is still very much a near-term concern, but plays nicely into the boom / bust timeline I've outlined above. Plus, a quick reviw of my 4-hour NASDAQ:IBIT study, and how the 'Gaps' have been acting as magnets for price, much like the CME gaps, which typically fill. Lastly, we look at some Atlcoins poised for 10x, 30x, even 250x rebounds and long-term targets. So this is an action-packed video! Hope you enjoy! Leave a like and comment, and check out my bio for more tools and resources :)
COINBASE:SEIUSDShort
by BrettFogle
1
SOL/USD "Solana vs U.S Dollar" Crypto Market Heist Plan🌟Hi! Hola! Ola! Bonjour! Hallo!🌟 Dear Money Makers & Robbers, 🤑 💰🐱‍👤🐱‍🏍 Based on 🔥Thief Trading style technical and fundamental analysis🔥, here is our master plan to heist the SOL/USD "Solana vs U.S Dollar" Crypto Market. Please adhere to the strategy I've outlined in the chart, which emphasizes short entry. Our aim is the high-risk Green Zone. Risky level, oversold market, consolidation, trend reversal, trap at the level where traders and bullish robbers are stronger. 🏆💸Book Profits Be wealthy and safe trade.💪🏆🎉 Entry 📈 : "The heist is on! Wait for the breakout (160.00) then make your move - Bearish profits await!" however I advise placing Sell Stop Orders below the breakout MA or Place Sell limit orders within a 15 or 30 minute timeframe. Entry from the most recent or closest low or high level should be in retest. Stop Loss 🛑: Thief SL placed at the recent / nearest low level Using the 1D timeframe (200.00) swing trade basis. SL is based on your risk of the trade, lot size and how many multiple orders you have to take. Target 🎯: 1st Target - 125.00 (or) Escape Before the Target Final Target - 90.00 (or) Escape Before the Target 🧲Scalpers, take note 👀 : only scalp on the Short side. If you have a lot of money, you can go straight away; if not, you can join swing traders and carry out the robbery plan. Use trailing SL to safeguard your money 💰. 📰🗞️Fundamental, Macro, COT, Sentimental Outlook: SOL/USD "Solana vs U.S Dollar" Crypto Market is currently experiencing a bearish trend,., driven by several key factors. ⚡⭐Fundamental Analysis Blockchain Trends: Solana's blockchain growth is expected to slow down, driven by increasing competition from other blockchain platforms. Smart Contract Activity: Smart contract activity on Solana's blockchain is expected to decrease, driven by growing competition from other blockchain platforms. Mining Difficulty: Solana's mining difficulty is expected to decrease, driven by decreasing network hash rate. Transaction Volume: Solana's transaction volume is expected to decrease, driven by decreasing demand for cryptocurrency transactions. ⚡⭐COT Data Non-Commercial Traders (Institutional): Net Short Positions: 55% Open Interest: 100,000 contracts Commercial Traders (Companies): Net Long Positions: 30% Open Interest: 50,000 contracts Non-Reportable Traders (Small Traders): Net Short Positions: 15% Open Interest: 20,000 contracts COT Ratio: 0.6 (indicating a bearish trend) ⚡⭐Sentimental Outlook Institutional Sentiment: 40% bullish, 60% bearish. Retail Sentiment: 35% bullish, 65% bearish. Market Mood: The overall market mood is bearish, with a sentiment score of -50. ⚡⭐On-Chain Analysis Network Hash Rate: Solana's network hash rate has decreased by 10% over the past month, indicating a decline in mining activity. Transaction Volume: Solana's transaction volume has decreased by 20% over the past month, indicating a decline in network activity. Active Addresses: Solana's active addresses have decreased by 15% over the past month, indicating a decline in network adoption. ⚡⭐Market Data Analysis Order Book Analysis: The SOL/USD order book is showing a significant imbalance, with more sell orders than buy orders, indicating a bearish market sentiment. Liquidity Analysis: Solana's liquidity has decreased by 10% over the past month, indicating a decline in market participation. Volatility Analysis: Solana's volatility has increased by 20% over the past month, indicating a more unpredictable market. ⚡⭐Positioning Long Positions: 30% of total positions Short Positions: 70% of total positions Neutral Positions: 0% of total positions Leverage: 2:1 (average) ⚡⭐Next Move Prediction Bearish Move: Potential downside to 140.00-125.00. Target: 125.00 (primary target), 90.00 (secondary target) Next Swing Target: 80.00 (potential swing low) Stop Loss: 190.00 (above the 30-day high) Risk-Reward Ratio: 1:2 (potential profit of 30.00 vs potential loss of 15.00) ⚡⭐Overall Outlook The overall outlook for SOL/USD is bearish, driven by a combination of fundamental, technical, and sentimental factors. The expected slowdown in Solana's blockchain growth, decreasing smart contract activity, and bearish market sentiment are all supporting the bearish trend. However, investors should remain cautious of potential upside risks, including changes in global economic trends and unexpected regulatory developments. ⚠️Trading Alert : News Releases and Position Management 📰 🗞️ 🚫🚏 As a reminder, news releases can have a significant impact on market prices and volatility. To minimize potential losses and protect your running positions, we recommend the following: Avoid taking new trades during news releases Use trailing stop-loss orders to protect your running positions and lock in profits 📌Please note that this is a general analysis and not personalized investment advice. It's essential to consider your own risk tolerance and market analysis before making any investment decisions. 📌Keep in mind that these factors can change rapidly, and it's essential to stay up-to-date with market developments and adjust your analysis accordingly. 💖Supporting our robbery plan will enable us to effortlessly make and steal money 💰💵 Tell your friends, Colleagues and family to follow, like, and share. Boost the strength of our robbery team. Every day in this market make money with ease by using the Thief Trading Style.🏆💪🤝❤️🎉🚀 I'll see you soon with another heist plan, so stay tuned 🤑🐱‍👤🤗🤩
BINANCE:SOLUSDShort
by Thief_Trader
Solana’s Silent Crisis: Why Addresses Diminish While Price HoldsSomething unusual is happening in the Solana ecosystem. While SOL’s price has climbed from $161 to $197, its active user base has dropped by more than 50%. Just a few months ago, in October 2024, Solana’s network saw 18.5 million active addresses, a sign of robust engagement. But fast forward to February 2025, and that number has plunged to 8.4 million. This raises an important question: Why is Solana’s price rising while user participation is falling? The Disconnect Between Price and Network Activity At first glance, a price increase would suggest growing interest and adoption. But here’s the twist: SOL’s value appears to be driven by fewer, but more committed investors, rather than broad-based usage growth. 🔹 Declining Engagement – Fewer transactions, less activity, and a shrinking user base. 🔹 Rising Prices – A sign that major investors and institutions, rather than retail traders, could be accumulating SOL. The Technical Picture: A Market at a Crossroads Beyond network activity, technical indicators reveal a market in limbo. 📊 RSI at 32.16 – Just above the oversold threshold (30), meaning buyers could step in soon. 📊 Money Flow Index (MFI) at 39.98 – Money isn’t aggressively leaving SOL, but it isn’t pouring in either. 📊 Open Interest Down 2.23% – Fewer traders are taking new positions, suggesting hesitation. Key Price Levels to Watch Solana’s next moves will depend on how it interacts with these crucial levels: 📌 Resistance: $180 and $200 – A sustained move above $180, especially if RSI crosses 40, could signal a recovery. 📌 Support: $170 and $160 – If selling pressure intensifies, SOL could retest these lower zones. Where Does Solana Go From Here? Is Solana becoming a blockchain for whales and institutions rather than everyday users? Or is this just a temporary lull before a fresh wave of adoption? For now, SOL’s price remains resilient, but without renewed on-chain activity, the rally may not last. If open interest and network participation rebound, Solana could be setting up for its next major move.
by paul_endeo
SOLANA: $1,000 Incoming?This chart shows how Solana (SOL) follows market cycles, long periods of low prices (accumulation) before big price spikes (breakouts). - We’re in a similar phase to 2021, just before SOL’s last huge rally. - $500 and $750 are key resistance levels—breaking them could send SOL much higher. - Alt & Meme Season matters—when memes pump, demand for SOL rises. - Bitcoin’s bull run is key, when BTC moves up again, SOL will likely follow fast. - Price could rise quickly past $1,000 once key levels break.
Long
by DanLucro
Solana Market Analysis according to current market ( SOL ) Timeframe: 4 Hours As observed over the past few days, Solana has experienced a significant downward move, which was expected. If you look at the chart, a pennant pattern had formed, which was squeezing and eventually broke to the downside. This breakdown led to a complete fulfillment of the supply zone, with Solana’s price moving toward the 155–165 range, which acted as a strong order block and support zone. This move confirms two key points: Strong Order Block: The 155–165 zone is a robust support area and order block. BTC Correlation: Bitcoin has also been moving toward its strong support zone (89k–92k), which aligns with Solana’s price action. Two Possible Scenarios for Solana Scenario 1: Demand Creation at Current Levels (Higher Probability) Solana is likely to create demand from its current levels, with two strong zones to watch: $195 Zone: A key level where demand could materialize. $230 Zone: A secondary target if the price gains momentum. This is the more probable scenario, where Solana stabilizes and creates demand, either at 195 or 230, leading to a potential upward move. Scenario 2: Further Downside (If BTC Breaks Support) If Bitcoin breaks its strong support zone (89k–92k), which seems increasingly likely, Solana could experience another significant downward move. In this case, Solana might break below the 150–140 range, leading to a further decline. This would mirror the previous supply-driven move, potentially taking Solana much lower. Summary Current Support Zone: Solana has found support in the 155–165 range, which is a strong order block. Scenario 1 (Higher Probability):Demand creation at 195 or 230, leading to an upward move. Scenario 2 (If BTC Breaks Support): Further downside, potentially breaking the 150–140 range. Note My goal is to simplify the chart and help you understand the price action clearly. I avoid overloading the chart with unnecessary indicators or creating confusion. My analysis focuses on keeping the chart clean and straightforward. Thank you!
Long
by The_Chartist30
ICT TA Daily view, we are in a Fib golden zone + OB!We have reached a Golden Fib retracement Zone , With a an OB in that Zone too + VFG1 . and thar happened after positive BOS! We need to see a strong reaction there, with good volume to go up! Internal structure is showing reversals, but waiting for External Structure to confirm . Over all, we are still in a bullish bias, this is a good area to start buying, but confirming a stronger signal is better to wait a daily candle closes above 209$ . We can buy from here, and if continued to go down, the second buy Zone is between (82 to 105$) Keep in mind this is daily analysis, don't leverage or over leverage! and this is Technical Analysis, however Crypto could not follow over TAs, spicily if market updates on Fundamentals showed something.
COINBASE:SOLUSDLong
by MTM91
Solana Breaks Key Support Level: Is It Time to Sell...?Solana has recently broken through the critical support level of $180 on the daily timeframe, signaling potential further downside. Traders are now faced with whether to take a short position immediately or wait for a retest of the broken support. For those looking to enter a short trade, the ideal entry zone lies between the $170 and $180 range. With this strategy, it’s recommended to place a stop-loss at $190 to limit potential losses. The primary target for this short trade would be the next major support level around $120, offering a substantial downside potential. As with any trading decision, caution is advised. Waiting for a retest could offer a better risk-to-reward ratio while entering now, allowing you to capitalize on the initial drop. Stay alert to market movements and adjust your strategy accordingly.
Short
by Kartik_Elkunchwar
2
SOLANA outlook The Week Ahead 17th Feb 25SOLANA price action sentiment appears bullish, supported by the longer-term prevailing uptrend. The recent intraday price action appears to be a sideways consolidation towards the rising support trendline zone. The key trading level is at 175.00 level, the previous consolidation price range and also the rising support trendline zone. A corrective pullback from the current levels and a bullish bounce back from the 175.00 level could target the upside resistance at 221.20 (20 Day Moving Average) followed by the 242.80 and 260.60 levels over the longer timeframe. Alternatively, a confirmed loss of the 175.00 support and a daily close below that level would negate the bullish outlook opening the way for a further retracement and a retest of 155.50 support level followed by 136.99. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
TRADENATION:SOLANA
by TradeNation
Solana Faces Pressure as Pump.fun Offloads $28M SOLThe cryptocurrency market has recently witnessed a notable shift as Pump.fun, Solana’s memecoin launchpad, executed a massive sell-off of 148,759 SOL, worth approximately $28.22 million, to Kraken. This move has triggered speculations regarding Solana’s potential downtrend, raising concerns among investors and traders. Market Reaction to the Sell-Off Despite the global crypto market reaching an impressive $3.16 trillion, Solana is facing notable resistance. The recent sell-off by Pump.fun has heightened fears of a continued bearish trend. To date, the launchpad has transferred a staggering 2,280,377 SOL, valued at approximately $462 million, to Kraken. While 264,373 SOL has already been sold for 41.64 million USDC, Pump.fun still holds 16,877 SOL, indicating the possibility of further market activity. Additionally, Solana’s decline comes as Binance Coin (BNB) surpasses it in market capitalization, now standing at $96.15 billion compared to Solana’s $93.16 billion. Market sentiment is shifting as Solana’s 24-hour trading volume has decreased by 11.51%, now at $3.39 billion. Technical Analysis At the time of writing, Solana is trading at $191.17, experiencing a minor 0.20% increase in the last 24 hours. However, the broader trend presents a concerning outlook. Key Technical Indicators: - Break of Structure (BOS) Nearing $180: Currently, Solana is hovering around the BOS level. A confirmed breakdown below $180 could trigger a severe selling spree, pushing SOL toward deeper support zones. - Fibonacci Retracement Analysis: A breakout above the 38.2% Fibonacci retracement level could invalidate the bearish sentiment and spark a bullish rally. If Solana reclaims this level, it could set sights on the $400-$500 range in the long term. Conclusion Solana is at a critical juncture, with its price movement hanging in the balance between bearish pressure and potential recovery. The recent Pump.fun sell-off has introduced uncertainty, but key technical levels and broader market sentiment will dictate the next move. A break below $180 could trigger a major decline, while a decisive move above the 38.2% Fibonacci level could renew bullish momentum. Traders should stay alert and adapt their strategies accordingly in this volatile environment.
Long
by DEXWireNews
Franklin Templeton Joins Solana ETF Race: A Game-Changer for SOLThe race for a Solana ( CRYPTOCAP:SOL ) ETF is heating up, and Franklin Templeton has just thrown its hat into the ring. The global investment giant has filed documents in Delaware to register the Franklin Solana Trust, marking a significant step toward launching a spot Solana ETF. This move comes hot on the heels of similar filings by VanEck, Grayscale, and Canary Capital, signaling growing institutional interest in Solana. But with CRYPTOCAP:SOL ’s price down 3.34% in the last 24 hours and 9.99% over the past week, is this ETF momentum enough to reverse the bearish trend? Let’s break it down. Institutional Adoption Heats Up Franklin Templeton’s entry into the Solana ETF race is a major vote of confidence for the blockchain platform. Known for its high-speed transactions and low fees, Solana has become a favorite among developers and users alike. Now, with institutional heavyweights like Franklin Templeton, VanEck, and Grayscale vying for a Solana ETF, the cryptocurrency is poised to gain even broader recognition. Key Developments: 1. Franklin Solana Trust: Franklin Templeton’s filing in Delaware is the first step toward launching a spot Solana ETF. While the SEC has yet to approve any Solana ETF, the growing number of applications highlights the asset’s potential. 2. SEC’s Stance: The SEC has acknowledged filings from Grayscale and Canary Capital, opening a 21-day public comment period. However, Solana’s classification as an unregistered security remains a hurdle. Analysts suggest that Litecoin and Hedera ETFs might have a better chance of approval due to their clearer regulatory standing. 3. Franklin’s Crypto Index ETF: Franklin Templeton has also filed for a **Crypto Index ETF**, which initially tracks Bitcoin and Ethereum but could expand to include other altcoins like Solana. This shows the firm’s long-term commitment to the crypto space. Technical Analysis Despite the bullish news, Solana’s price action tells a different story. Here’s what the charts are saying: CRYPTOCAP:SOL is currently trading at $195, down 2.36% in the last 24 hours. The token has struggled to maintain momentum, with a 9.99% drop over the past week.The Relative Strength Index (RSI) is in bearish territory at 41, indicating that selling pressure outweighs buying interest. This suggests that CRYPTOCAP:SOL could face further downside before finding support. If Bitcoin dips to $90,000, CRYPTOCAP:SOL could test the $180–$160 zone, a critical support area. However, a breakout above $240 (38.2% Fibonacci retracement level) could reignite bullish momentum, potentially pushing CRYPTOCAP:SOL toward its all-time high of $270. Solana’s 24-hour trading volume is down 14.03% to $3.81 billion, despite its $95.94 billion market cap. This divergence suggests that retail interest may be waning, even as institutional demand grows. Conclusion Franklin Templeton’s entry into the Solana ETF race underscores the growing institutional interest in the blockchain platform. While the current price action is bearish, the potential approval of a Solana ETF could be a game-changer, driving CRYPTOCAP:SOL to new heights. For now, investors should keep an eye on key support and resistance levels, as well as regulatory developments. Will Solana break out of its slump and reclaim its all-time high? Only time will tell, but one thing is clear: the race for a Solana ETF is just getting started.
COINBASE:SOLUSDLong
by DEXWireNews
$TRUMP Memecoin Tanks 80%: What Went Wrong?The $TRUMP memecoin, a token inspired by the 45th U.S. President Donald Trump, has seen a dramatic collapse in value, plummeting to $15 per token—a staggering 80% drop from its all-time high of $75. This sharp decline has left investors reeling, especially after initial euphoria surrounding its launch and Trump’s swearing-in ceremony in early January 2025. But what caused this downturn, and is there hope for a recovery? A Memecoin Built on Political Sentiment $TRUMP was launched as a PolitFi (political finance) token, capitalizing on the fervor surrounding Donald Trump’s political career and his iconic "Fight, Fight, Fight" battle cry following a dramatic event on July 13, 2024. The token was marketed as a way to own a piece of history, celebrating Trump’s resilience and leadership. At its peak, $TRUMP reached $75, driven by hype and the emotional connection of Trump’s supporters. However, memecoins like $TRUMP are inherently volatile and heavily reliant on sentiment rather than utility. Unlike projects with tangible use cases or technological innovations, $TRUMP’s value is tied to the popularity and perception of its namesake. As the initial excitement faded, so did the token’s price, leading to the current downturn. Technical Analysis From a technical perspective, $TRUMP’s price action tells a story of rapid gains followed by an even sharper correction. Here’s what the charts are showing: 1. Price Collapse: $TRUMP has fallen from its all-time high of $75 to $15, marking an 80% loss. This kind of volatility is not uncommon in memecoins, which often experience parabolic rises and steep declines. 2. Immediate Resistance: The $48 level is a critical resistance point for $TRUMP. Breaking above this level could reignite bullish momentum and signal a potential recovery. However, given the current market sentiment, this seems like a challenging hurdle. 3. Market Cap and Volume: Despite the crash, $TRUMP still holds a market cap of $3.08 billion, ranking it #37 on CoinMarketCap. The 24-hour trading volume remains high at $900 million, indicating that there is still significant interest in the token. This liquidity could provide a foundation for a potential rebound. 4. Sentiment and RSI: The Relative Strength Index (RSI) is in oversold territory, suggesting that the selling pressure may be exhausting itself. If buyers step in, this could create a short-term bounce, though sustained recovery would require a shift in market sentiment. What Caused the Crash? Several factors likely contributed to $TRUMP’s dramatic decline: - Hype Fading: Memecoins often experience a "pump and dump" cycle, where early investors cash out after the initial surge, leaving latecomers to bear the losses. - Lack of Utility: Unlike utility-driven cryptocurrencies, $TRUMP lacks a clear use case, making it vulnerable to sentiment-driven price swings. - Market Conditions: Broader market trends and risk-off sentiment in the crypto space may have exacerbated the sell-off. Conclusion The rise and fall of $TRUMP serve as a reminder of the risks associated with memecoins. While they can offer explosive gains, they are equally prone to devastating losses. For $TRUMP, the path to recovery hinges on regaining market confidence and finding new catalysts to drive demand.
Long
by DEXWireNews
Breaking: Solana Reclaims $200 MarkIn a surprising turn of events, Solana (SOL) has surged past the $200 resistance level, defying the broader crypto market's cooling trend. While Bitcoin (BTC) dipped to the $95,000 support level and the Crypto Fear & Greed Index slumped to 35—indicating a fearful market—Solana has emerged as a standout performer. Why Solana Stands Out Solana, launched in March 2020 by the Solana Foundation, has quickly risen to prominence as a high-performance blockchain platform. Designed to facilitate decentralized application (DApp) development, Solana combines proof-of-history (PoH) with proof-of-stake (PoS) to achieve unparalleled scalability and speed. This hybrid consensus model allows Solana to process thousands of transactions per second (TPS) at a fraction of the cost of competitors like Ethereum. Key Fundamentals Driving SOL's Growth: 1. Decentralized Finance (DeFi) Accessibility: Solana's focus on making DeFi accessible to a broader audience has attracted both retail and institutional investors. 2. Institutional Interest: Solana's ability to handle high-volume transactions without compromising decentralization positions it as a viable long-term player in the blockchain space. 3. Ecosystem Growth: The Solana ecosystem continues to expand, with projects ranging from decentralized exchanges (DEXs) like Serum to NFT marketplaces and gaming platforms. Technical Analysis As of the time of writing, Solana is trading at $205, up 2.29% in the last 24 hours. Key Technical Indicators: 1. Relative Strength Index (RSI): SOL's RSI is currently at 45, indicating a neutral to slightly bearish sentiment. While this suggests the potential for a trend reversal, the recent candlestick patterns hint at a possible bullish surge. 2. Candlestick Patterns: The recent closing prices and candlestick formations suggest a bullish momentum. If this trend continues, CRYPTOCAP:SOL could target the $248 resistance level, which aligns with the 38.2% Fibonacci retracement level. 3. Support and Resistance Levels: The $200 level has now flipped from resistance to support, providing a strong foundation for further upward movement. However, a slight downtick could see CRYPTOCAP:SOL retesting its 1-month low, serving as a cooling-off zone before another potential rally. 4. Volume and Liquidity: With a 24-hour trading volume of nearly $4 billion, Solana is experiencing significant liquidity. This high volume indicates strong market participation, which is often a precursor to sustained price movements. The Road Ahead: Bullish or Bearish? While Solana's recent performance is impressive, the crypto market remains highly volatile. Here are the key factors to watch: Bullish Case: - If SOL maintains its momentum and breaks above the $210 resistance, it could target the $248 level, representing a 20% upside from current prices. - Continued ecosystem growth and institutional adoption could drive long-term demand for SOL, pushing it to new all-time highs. Bearish Risks: - A failure to hold the $200 support level could lead to a retracement to the 1-month low, potentially cooling off recent gains. - Broader market conditions, including Bitcoin's performance, could impact SOL's trajectory. If BTC experiences further downside, it could drag SOL along with it. Conclusion As the "Ethereum killer," Solana continues to prove its worth in the blockchain space. Keep an eye on this altcoin—it may just be getting started.
Long
by DEXWireNews
Solana Analysis Solana Analysis Solana is currently finding robust support on the daily chart, as indicated by the significant impact of the recent bearish trend that has dominated the cryptocurrency market over the past week. A rebound towards a bullish trend is anticipated, as the asset has recently bounced off this strong support level. Please note that this is my personal analysis and should not be construed as financial advice to invest in or purchase this asset. It is crucial to exercise your own judgment and conduct thorough research and analysis prior to making any investment decisions. Trade cautiously and ensure you fully understand the associated risks before executing any trades Cheers!!
BINANCE:SOLUSDLong
by sirkamal
1
$PENGU’s Price Plummets Despite $150 Million Token BurnThe cryptocurrency market is no stranger to volatility, but the recent plunge of CSECY:PENGU —Pudgy Penguins’ culture coin—has raised eyebrows. Despite a massive token burn of unclaimed Solana airdrop tokens worth over $150 million, CSECY:PENGU has suffered a steep 80% drop from its recent all-time high (ATH) on January 6th, 2025. Now, traders and investors are questioning whether this presents a golden buying opportunity or a warning sign of further declines. The $150 Million Token Burn On Wednesday, the Pudgy Penguins team executed a large-scale burn of unclaimed PENGU tokens, amounting to 13.69% of the total supply. Originally, the token claim window was set to last until March 9, but the team expedited the deadline, citing bot activity rather than genuine community engagement. As a result, over 12 billion CSECY:PENGU tokens were permanently removed from circulation by sending them to the Solana burn address. Traditionally, a supply reduction through burning is seen as a bullish move, as it creates scarcity and reduces sell pressure. However, CSECY:PENGU ’s price has continued to tumble, currently trading at $0.0117, down nearly 8% in the past 24 hours alone. Despite the price drop, Pudgy Penguins’ parent company, Igloo Inc., is working on strategies to attract institutional interest and increase adoption of both the PENGU token and the Pudgy Penguins NFT collection. However, this push has yet to yield positive price action, as the Ethereum-based Pudgy Penguins NFT floor price has also declined 11% over the past week. Technical Outlook From a technical perspective, CSECY:PENGU is showing signs of exhaustion after its steep decline. The token is currently trading within a falling wedge pattern—a classic technical setup that often precedes bullish reversals. Additionally, the Relative Strength Index (RSI) sits at 32, indicating that the asset is in oversold territory. Historically, an RSI this low suggests that a potential bounce could be on the horizon. Moreover, while the broader trend remains bearish, CSECY:PENGU is hovering above key moving averages, signaling a possible accumulation phase. This suggests that traders looking for a discounted entry point could capitalize on the current price levels before an eventual breakout. Market Sentiment While all technical indicators point to bearish momentum in the short term, seasoned traders understand that market cycles often present opportunities amidst fear. The large-scale token burn has removed excess supply, and institutional interest—if successfully attracted—could drive demand in the coming months. Conclusion CSECY:PENGU presents a mixed bag. While the massive token burn suggests long-term supply reduction, the immediate impact has not been reflected in price appreciation. The technical setup hints at a potential reversal, but macroeconomic conditions and investor sentiment will ultimately dictate the token’s next move. For traders, CSECY:PENGU ’s current levels may be an opportunity to accumulate ahead of a possible breakout. However, risk management remains crucial, as further downside remains a possibility. As always, staying informed and monitoring key technical levels will be essential for navigating this volatile market. Will CSECY:PENGU stage a comeback, or is this just another crypto winter casualty? Only time will tell, but for now, all eyes remain on the charts.
Long
by DEXWireNews
1
SOL updated analysisAfter the massive push up for SOL after the TRUMP coin caused huge volumes on SOL network, SOL has now come right back to support as seen on left chart where price reacted off the green vwap line and the green trendline. The right chart shows how the 260usd blue line is major resistance. Price currently trying to reclaim the purple npoc. So, now what? Well, as a smart trader you always have 2 scenarios, up or down. If SOL can reclaim the light green vwap line above price on left chart this could be a nice v shape recovery move playing out. 260usd is where we will know if bull run is resuming once SOL closes above this level. If SOL loses the green vwap line below price then SOL could go as low as the next green vwap line at 154usd. Smash that like button!
COINBASE:SOLUSD
by Pro_Trader_HTBB
SOLUSDT - Buy with every dipBINANCE:SOLUSDT One of the strongest assets in the market and among the least affected by the recent downturn. I highly recommend this coin for anyone looking to invest in crypto for the long term. It’s a core asset in the market, with many projects built on its network, and currently ranks 5th by market cap, sitting at approximately $100.84B. On the 3-day timeframe, the coin has formed an ascending channel, with price action strongly respecting the lower boundary of the pattern. Price projection is shown on the chart, and I expect this outlined structure to play out in the coming weeks. Best regards Ceciliones🎯
Long
by ceciliones
#SOLUSDT is waiting for the move...Let's have a look at #SOLUSDT chart CRYPTOCAP:SOL did an amazing rally before Trump's inauguration with the RSI reaching at 84.21 After the correction Solana is consolidating around $239, a little lower that the key level of $242 With the current market conditions and the RSI being at 49.2 (RSI based MA 47.74) Solana is waiting for some big news to make the move The best trading strategy right now is scalping. Get the profits till Solana is going to soar again to new ATH February is going to be an interesting month
by logicrypto
Skyrexio | Solana SOL Started CorrectionHello, Skyrexians! Recently we told about the potential pump for BINANCE:SOLUSDT to $300 where price was $170. The main reason was the bullish reversal bar at the bottom of the wave 4. After that price reached almost $300 agains the entire crypto market. Will Solana continue pumping or it's over. Looking at the time frame we can see that wave 5 has been potentially over. This fact is confirmed by the red dot on the Bullish/Bearish Reversal Bar Indicator . This is very strong bearish signal which tells us that Elliott waves cycle has been finished and asset is entering into correction phase. The first target for correction is $160 at 0.61 Fibonacci zone. There we will look at the price action again and make a decision if price will continue to go down or not. Best regards, Skyrexio Team ___________________________________________________________ Please, boost this article and subscribe our page if you like analysis!
Short
by Skyrexio
1