Solana (Sol) Update 09/09/21: Solana New ATH $210Just over six days ago Solana was just 5% from the $150 price target forecasted at the beginning of the year. Within the last three days, Solana has gained over 49% in value, hitting our target at the 161.80% fibonacci level. From a quantitative, technical view It looks like Solana has topped. From here we can expect a small cool down period in the range between the 78.60% fibonacci level between $136-$121 before the next leg up on this parabolic run. Price target at the 161.80% fibonacci level @ $210 was met, the next target from here is at the 261.80% Fibonacci level (60% gain from current price level).
Solanaanalysis
Solana Update 06/09/21: New ATH $154Solana is now at a New ATH $154. The Solana Moonshot is clearly leading DeFi Summer. Three days ago Solana was just 5% from the $150 price target forecasted at the beginning of the year, It has grown over 10% since then. From here we can expect a small cool down period in the range between the 78.60% fibonacci level between $136-$121 before the next leg up on this parabolic run. Price target from here are at the 161.80% fibonacci level @ $210 (49% Gain from the current price level).
Solana Update 03/09/21: Moonshot leading DeFi Summer, Solana is currently 5% from the $150 price target forecasted at the beginning of the year. From here we can expect a small cool down period in the range between the 78.60% fibonacci level between $118-144 before the next leg up on this parabolic run. Price target from here are at the 161.80% fibonacci level @ $210 (49% Gain from the current price level). Please see previous analysis below. Happy Trading :)
We could see a $150 Solano very very soon, only 24% away from the 461.80% fibonacci extension . $150 Solano would mean If Solana had a market cap of $43.0B, 1 SOL would be worth $150.00. Since the buy signal triggered on the 3rd August with the 13EMA crossing up above the 50 SMA , Solano has grown over 400% in the past month. We forecasted a $150 EOY target for #Solano, it looks like we could reach this target Early September. Defi summer is happening and Solano, Luna, and Avax are all leading the way. We can expect similar growth moves in Polygon (Layer 2) over the next few months and We believe Solano is only just getting started here. Happy Trading :)
Key Info on Solano:
It is evident that one of the most focal dilemmas that the blockchain sphere faces is the issue of scalability and slow transaction times; Solana aims to fix this vital issue that needs to be remedied. Boasting 60,000 transactions per second, one of the fastest blockchains in the world and growing, Solana has the team, the community and the resources to propel blockchain into the mainstream sphere of influence. This is a new era for blockchain technology, an era of transaction times that rival mainstream and antiquated methods of transaction validation and processing. Solana will be a project and network that will accelerate the adoption of blockchain technology. This is just the beginning.
SOL 12h Growth conditions for Solana price x3-x4 in the ideaWe have another trading pair in SOLUSDT analysis, which was voted under our "Bitcoin Weekend #17" idea
Most likely, the pair SOLUSD caught the attention of traders with its non-stop growth. And really it is not a bad growth of +270% in one month. This SOL price growth reached the first target of $79 from our previous idea.
Today we only stretched the fractal a bit in time from our previous idea, and why change it when everything has been working for a month already? )
We need to watch the $60-63 price zone closely now. If buyers become active in this price range, and trading volumes start to turn green and grow, it will be a good sign for the continuation of growth. The upside targets for the Solana token, according to the fractal, are $115 and $150.
If the sellers push down and fix the price below $60, the SOLUSDT price is likely to head to the $42-50 price zone. The levels of $42 and $50 should be kept in mind as key levels for placing buy orders. Yes, according to this scenario, the growth will be less dynamic in the time than according to the fractal, but the targets from above for growth are unchanged: $80-115-150.
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CHAINLINK 2.0This coin went up 200x from 0.5 to 100$. that's literally 200x. People are fomoing in right now and institutions who bought low will sell and take profit.
DO NOT SHORT LEVERAGE THIS!! take profit if u bought at 25-50$ u sitting with massive gains.. at worst case it could hit 150$.
usually when coins go up this much they will tank 30-50%. How do i know this well the circulating supply is high and its not like KUSAMA with low supply circulating. Look at chainlink with almost same supply it did 100x during bear market and tanked.
Its better to take profit with 10-20x and find new coin who has not pumped yet then waiting for more gains with a coin who went 200x. under 1 year.
Solana all time high, overbought state Hello everyone, as we all know the market action discounts everything :)
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Solana reached an all-time high at 103.062 breaking all of the old resistance lines, Why is this coin doing so well for itself? and what could be behind this movement?
The main reason why Solana is doing so well is that Solana has the highest per-second transaction among blockchains and the lowest transaction fees, people are realizing that by using Solana they will be saving a lot of money from transactions alone.
Solana is the fastest blockchain in the world and the fastest-growing ecosystem in crypto, with over 400 projects spanning DeFi, NFTs, Web3, and more.
Now let's look at the technical analysis and price action for this coin :
Scenario 1 :
The coin price is trading at 97.437 right now almost hitting the first resistance line at 97.710, The bulls are gaining more power by each day as the market brings more cash flow and knowing that could push the price above the resistance zone from 97.710 - 101.220 which will lead into a breakout of that zone and a further push will happen leading the price to go near the 107.454 level.
Scenario 2 :
The market has been in the overbought state for the last 2 weeks and an RSI divergence has been found which could lead to a reversal in the market, and it will start when the Bears will push the price to the first support line at 90.750 where the main battle will happen between the Bears and Bulls and the market will move according to the winner if the Bulls were to win then we will see the price push back up to the 97.710 level again, And if the Bears wins then we could expect a second drop that's going to be headed near the second support at 87.300 or even the third support at 75.924.
Technical indicators show :
1) The market is above the 5 10 20 50 100 and 200 MA and EMA (Bullish sign)
2) The RSI has been trading in the overbought zone since Aug 14, And a divergence has been found between the market and the indicator which could lead to a reversal in the trend.
3) The ADX is at 87.42 showing that the market is super trending right now, with a positive crossover between DI+ and DI-.
Support & Resistance points :
support Resistance
1) 90.750 1) 97.710
2) 87.300 2) 101.220
3) 75.924 3) 107.454
Fundamental point of view :
On Aug. 24, digital asset management firm Osprey Funds registered a first-of-its-kind Solana fund with the U.S. Securities and Exchange Commission (SEC). In doing so, the New York firm hinted at giving institutional exposure to SOL markets as the token's value surged by more than 4,300% in 2021.
A day later, real-time data feeder Pyth Network announced that it is going live on Solana's proof-of-stake blockchain. The firm provides "high-fidelity streaming data" from trading firms and exchanges, which allows it to cover global market activity without depending on any single data source.
Pyth will use Solana's cross-chain communication protocol "Wormhole" to broadcast market data with decentralized applications functioning atop Ethereum, Binance Smart Chain, and Terra blockchains. According to Cointelegraph
This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts and news for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
SOL/USDT Hi, I think Solana has a price correction ahead of him, considering his recent price pump and to the 0.618 and 0.382 Fibonacci levels, this correction will continue and continue its upward trend again.
Thank you for your time and study, and thank you for the excellent tradingview site and support
Solana - What's happening on the graph?Update on Solana!
After a big drop of 40%, Solana is trying to return to the value area noted above. So far it did not manage to test this area, but if it makes higher highs, tests the sell zone and the volume rises, it could be a good point to open a short position with the target indicated below!
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
