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Solanaanalysis

Solana (SOL) Flips XRP As It Tops Ethereum In 24-Hr DEX VolumeSolana's surge propels it to surpass XRP while achieving a milestone by leading Ethereum in 24-hour DEX volume. In a compelling twist of events, Solana ( CRYPTOCAP:SOL ) has soared to become the 5th top cryptocurrency by market capitalization, surpassing XRP on December 20. Over recent weeks, the bullish momentum in CRYPTOCAP:SOL ’s price has propelled it into the spotlight, posing a challenge to XRP’s position amidst choppy market conditions. Catalyst Behind The Surge Meanwhile, this surge is intricately linked to the rising popularity of the meme coin, BONK, flourishing on the Solana blockchain. So, let’s take a look into the factors behind Solana’s recent ascent and its price performance. Here’s Why Solana Poses Challenge On CRYPTOCAP:XRP The meteoric rise of Solana in the crypto hierarchy finds its roots in the success of the meme coin, BONK. Over the past weeks, the BONK price has experienced a remarkable surge, marking a substantial 80% increase in its weekly price. Meanwhile, the catalyst for this surge lies in the meme coin’s recent listings on major exchanges, including Binance and Coinbase. The support from these global platforms has catapulted $BONK into mainstream recognition, contributing significantly to Solana’s market cap ascent. In addition, Solana’s recent milestone of surpassing Ethereum’s 24-hour decentralized exchange (DEX) volume marks a pivotal moment in its journey. Solana’s proof-of-stake (PoS) blockchain has outperformed Ethereum’s chain for the first time since its launch in 2020. This achievement is attributed to several factors, including a surge in Solana Mobile purchases, substantial trading volumes associated with $BONK, and a prevailing bullish sentiment within the Solana ecosystem. As Solana continues to disrupt the crypto landscape, the industry eagerly watches its trajectory in the coming days.
COINBASE:SOLUSDLong
by DEXWireNews
🗺️Solana(SOL) Roadmap🗺️🚀Today, I want to analyze the Solana(SOL) project, which has grown more than ➕380% in the last 90 days . Does Solana continue to grow, or does it need to Rest ❗️❓ 🙏Please stay with me. 🌐In terms of Fundamentals and News/Rumors for Solana(SOL), Solana(SOL) is in good position, as: 🔸Collaboration with Amazon . 🔸Launch the Firedancer protocol . 🔸Solana's Total Value Locked ( TVL ) has grown well. ⚠️Of course, we saw the impact of all the above during these 90 days in the Solana(SOL) project chart. 🏃‍♂️Regarding Technical Analysis, Solana(SOL) is moving in the Ascending Channel for about a year, and now it is in the 🔴 Heavy Resistance zone($80.90-$56.20) 🔴 and near the upper line of the ascending channel. 🌊According to the theory of Elliott waves , Solana can be associated with 2-3 scenarios , which means that the grouping of waves with each other can be done in different ways, that Solana's falling wave structure from $260 to $8 was five waves ( main wave A ), so these rising waves created by Solana can eventually continue until the All-Time High(ATH=$260) , and there will be a fall again. In fact, all these waves that have been created in Solana during one year are in the form of the main wave B should be considered. 🌊The point that I can mention about Solana waves is that Solana seems to have completed its impulse wave 5 in the last 3 months soon and needs to be corrected to grow again. 📈Before the conclusion , it is better to take a look at the SOLBTC chart. 💡SOLBTC is moving near the 🔴 Resistance zone 🔴, and according to Elliott wave theory , it seems to be completing the main wave B with a Zigzag Correction(ABC/5-3-5 ). 💡From the SOLBTC chart, we can understand that if the cryptocurrency market falls , Solana will probably suffer more than Bitcoin in the future. If the cryptocurrency market grows , Solana will grow less than Bitcoin. 🔔As a result, according to the above explanation, I expect Solana(SOL) to Fail to break the 🔴 Heavy Resistance zone($80.90-$56.20) 🔴 and probably increase to around $81 at the most and then start to fall to one of the Fibonacci levels or 🟢 Support zone($30.50-$25.80) 🟢. ❗️⚠️Note⚠️❗️: If the 🔴 Heavy Resistance zone($80.90-$56.20) 🔴 is broken, I still think that Solana can increase (maximum) up to $260 , which of course, can be attractive considering the current price. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Solana Analyze ( SOLUSDT ), Daily 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
79
[solana] is going to $1remember when i said i'd buy solana at $10, back when it was at $200+?* remember when i called out a solana buy at $8.08 last december?* if you do, then remember my words tonight: solana hits $1 in 2024. --- old: --- solana came up in 5 waves on a weekly timeframe, from 2020 into 2021. since then, it has been in a simple zig-zag, coming down in 3 waves, with an estimated downside target sitting at $1. this might seem highly improbable for a majority of the market at this time due to an enormous amount of greed, but this was all part of the og plan. now that a majority of the market has been placed strategically on one single side, a powerful strike will take place, to inflict the most painful of all inflictions. you've been warned. 👻
BINANCE:SOLUSD
by notoriousbids
33
Solana Poised for $100 📈 🪙 Could Solana Be FTX's Lifeline? The cryptocurrency SOL, once championed by Sam Bankman-Fried of the now-bankrupt FTX exchange, has witnessed a remarkable rise, currently priced around $75. At the start of 2023, its cost was approximately $14, indicating an increase of over five times. Additionally, the Solana blockchain ecosystem has expanded considerably, with a total value locked (TVL) that briefly hit $1 billion today, as per DefiLlama's data. (defillama.com) 🛑CoinGecko reveals (www.coingecko.com) that FTX's SOL holdings are at 55.8 million, with 42.2 million of these locked. Initially valued at $1.16 billion, these assets have now ballooned to over $4,2 billion, potentially offering FTX a significant opportunity to settle its claims.
COINBASE:SOLUSDLong
by DEXWireNews
Confluence / Best Fit Theory I've always had a strategy of using horizontal support and resistances as well as finding a downwards and upwards trendline that can be duplicated and still hit multiple swing points amongst different timeframes. Think of it as angled supports/resistances. After having all these lines on the chart you can quickly see how often the various crosses act as a magnet for the price, but the lines create too much "noise", so I decided to turn my lines into channels. I then noticed the areas where the different zones crossed stuck out even easier and decided to mark them with circlesm After all the rough marks I thought it'd be interesting to plot a rough line trying to stay near the middle of each "column" treating the circles as a magnet for price. I'll update as time rolls on, but I think there's enough here to make this a pretty decent strategy!
Long
by brettjessen
1
SOL → Solana At Resistance! Will We Reverse? Or Pulling Back?Solana is at a key resistance level from what used to be Support in March of 2022. This resulted in a hard selloff throughout the crypto market, leaving us wondering what comes next. Are we pulling back then continuing? Or are we heading back down to the $32 area? How do we trade this? 🤔 More price action is required to justify a market entry. Here's what we do have; a bull run with what appears to be the final leg up ending at a resistance level, an RSI over 70.00, and a massive bear signal to follow. These are the signs that the trend is about to change into a trading range then either a reversal or continuation. We need another failed attempt to break resistance to justify playing a reversal and we also need another show of support at the 30EMA or Support Zone to long. Until then, it's reasonable to stay on the sidelines until more price action plays out. 🔑 Key Takeaways 🔑 1. At Resistance Zone after 3 Pushes Up. Pullback Likely. 2. Aggressive Selloff at Resistance, Need More Price Action. 3. RSI Over 70.00, Supports Pullback or Reversal. 4. Look for support at bottom of Resistance Zone or 30EMA. 5. Wait to Enter Market, Need Clarity on the Next Moves. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
by TraderEngineering
Solana Closes Gap on Ethereum with Over $16M in NFT SalesSolana emerges as a formidable threat to Ethereum’s throne as the network looks to outshine it from different angles. Solana’s incredible performance this year has positioned the project as a formidable threat to Ethereum’s reign as the network turns heads with its on-chain and trading activity.  After successfully surpassing Ethereum in on-chain activity, Solana outshines its rival in another important metric, NFT sales.  Solana Outpaces Ethereum Ethereum has ruled the NFT industry for years with its trading volume, projects, user adoption, and more. However, considering its persistent issues like network congestion and rising fees, its dominance is proving fleeting as competitors like Solana close the gap.  Following Solana’s historic run this year, registering over 800% in gains and marking record DEX volumes and network transactions, the network surpassed Ethereum in NFT sales on December 9 after hosting over $16 million.  Bitcoin and Ethereum trailed closely behind with $13.4 and $11.4 million in sales, respectively. Although Solana remained the second-largest NFT protocol at the time of writing, its trajectory signals a credible threat to Ethereum’s throne. Solana’s success in the NFT sector aligns with investors and developers slowly warming up to the network and recognizing its potential. While the network is still miles behind Ethereum when considering historical data, Solana’s uprising could signal a massive shift in the industry’s market dynamics.  Why This Matters Solana overtaking Ethereum signals a potential shift in industry dynamics. Ethereum has long been the dominant force in the NFT sector, boasting high volumes, adoption, and sales. However, Solana is slowly closing the gap and giving the network a run for its money.
COINBASE:SOLUSD
by DEXWireNews
Potential future of SOLANA. Silver and NIO. Agree?It's just an interesting fractal that I think is plausible. Personally, I don't hold WHITEBIT:SOLUSDT and don't expect ATH to be updated in the new cycle. Technically, the project is unstable and looks more like a beautiful marketing. For example, WHITEBIT:EOSUSDT has much more advantages technically and is safer as an investment. TVC:SILVER and NYSE:NIO NIO's share are very similar. NIO is also a very beautiful marketing that has a lot of problems.
NYSE:NIO
by sholi_software
SOLUSDT Breakout Signals Strong Bullish Momentum.SOLUSDT shows upward movement post breakout and retracement, aiming for $80 target. Alternatively a potential dip to the Fibonacci .5 level might occur, with the rebound anticipated from that point. It is essential for traders to monitor the market closely and be prepared for both bullish and bearish scenarios. SOLUSDT (4h Chart) Technical analysis SOLUSDT (4h Chart) Currently trading at $61 Buy level: Above $60 Stop loss: Below $55 TP1: $64 TP2: $68 TP3: $70 TP4: $80 Max Leverage 5x Always keep Stop loss Follow Our Tradingview Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts
Long
by GreenCryptoTrades
4
SOLUSDT - SOLANA IdeaHey Traders.. No Comment!! BINANCE:SOLUSDT SOLUSD COINBASE:SOLUSD ⚠️ Disclaimer: The viewpoints shared represent my individual outlook on the market, based on publicly accessible information and historical data. While a portion of these opinions is influenced by my actual trades, others are not. It's important to note that I am not a financial advisor, and I do not assume any responsibility for the decisions you make in your trading activities. ✅ Feel free to share your inquiries or suggestions in the comments. I am more than willing to assess and analyze any cryptocurrency, forex currency pair, or stock index that piques your interest, so, Please don't hesitate to ask or mention the specific currency chart you'd like me to review.
Long
by Arash-RK
2
2028 SOL in 200USDPredicting the future value of any cryptocurrency involves numerous variables and uncertainties, making it a speculative exercise. However, I can outline a hypothetical argument for Solana (SOL) reaching $200 USD by 2028, taking into account potential factors such as the Federal Reserve's interest rate releases in 2024. 1. Technological Advancements: Solana is known for its high-performance blockchain, capable of handling a large number of transactions with low fees. If the development team continues to enhance and optimize the network, attracting more developers and projects, the technological advancements could contribute to the increased demand for SOL tokens. 2. Increased Adoption: As blockchain technology gains wider acceptance across industries, Solana's scalability and efficiency might position it as a preferred platform for various decentralized applications (DApps) and projects. Increased adoption often correlates with a rise in the value of the underlying cryptocurrency. 3. DeFi and NFT Growth: The decentralized finance (DeFi) and non-fungible token (NFT) sectors have shown significant growth in recent years. If Solana continues to establish itself as a leading platform for DeFi and NFT projects, it could experience increased demand for its native token, SOL. 4. Market Sentiment and Speculation: Market sentiment plays a crucial role in the cryptocurrency space. Positive developments, partnerships, and increasing interest from institutional investors can drive speculation and attract more investors to SOL. This increased demand could potentially drive up the token's value. 5. Macro-Economic Factors: The Federal Reserve's interest rate decisions can impact the broader financial markets. If the interest rates are maintained at lower levels or follow a more accommodative monetary policy, investors might seek alternative assets like cryptocurrencies for potentially higher returns, positively affecting SOL's value. 6. Improved Regulatory Clarity: Clarity in cryptocurrency regulations can foster a more favorable environment for investor confidence. If regulatory frameworks become clearer and more accommodating, it could attract a broader range of investors to Solana and the overall cryptocurrency market. 7. Ecosystem Development: The growth and diversification of the Solana ecosystem, including partnerships, collaborations, and the launch of innovative projects, can contribute to SOL's value appreciation. This is not a financial advice.
Long
by Mat_cl