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Solanacoin

SOL (Solana) Coin Analysis 03/04/2022Fundamental Analysis: Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland. The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain. Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale. One of the essential innovations Solana brings to the table is the proof-of-history (PoH) consensus developed by Anatoly Yakovenko. This concept allows for greater scalability of the protocol, which in turn boosts usability. Solana is known in the cryptocurrency space because of the incredibly short processing times the blockchain offers. Solana’s hybrid protocol allows for significantly decreased validation times for both transaction and smart contract execution. With lightning-fast processing times, Solana has attracted a lot of institutional interest as well. The Solana protocol is intended to serve both small-time users and enterprise customers alike. One of Solana’s main promises to customers is that they will not be surprised by increased fees and taxes. The protocol is designed in such a way as to have low transaction costs while still guaranteeing scalability and fast processing. Combined with the longstanding professional expertise creators Anatoly Yakovenko and Greg Fitzgerald bring to the project, Solana is ranked number 6 in the CoinMarketCap ranking as of April 2022. This came on the back of an impressive bull run, where Solana price gained over 700% since mid-July 2021. The launch of the Degenerate Ape NFT collection sent SOL price to an all-time high (ATH) above $60, and it has been climbing since then and made a new All Time High of 260, largely due to higher developer activity on the Solana ecosystem, greater institutional interest, growing DeFi ecosystem, and the rise of the NFTs and gaming vertical on Solana. Solana price rose to an ATH of $260 on November 06, 2021. Solana has received much praise for its speed and performance, and has even been tipped as a rival that can compare to Ethereum and challenge the dominant smart contract platform. However, the network has been plagued by repeated outages that have impaired its price and aspirations to be the "Visa of crypto." Furthermore, its ecosystem is accused of favoring venture capital investors with unfair tokenomics. This has led to a retrace in the price of SOL as of February 2022, and more short-term bearish price action cannot be ruled out. However, in the long run, Solana should appreciate thanks to strong support from exchanges like FTX. Solana relies on a unique combination of proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms. Proof-of-history is the main component of the Solana protocol, as it is responsible for the bulk of transaction processing. PoH records successful operations and the time that has passed between them, thus ensuring the trustless nature of the blockchain. The proof-of-stake (PoS) consensus is used as a monitoring tool for the PoH processes, and it validates each sequence of blocks produced by it. The combination of two consensus mechanisms makes Solana a unique phenomenon in the blockchain industry. Anatoly Yakovenko is the most important person behind Solana. His professional career started at Qualcomm, where he quickly moved up the ranks and became senior staff engineer manager in 2015. Later on, his professional path shifted, and Yakovenko entered a new position as a software engineer at Dropbox. In 2017, Yakovenko started working on a project which would later materialize as Solana. He teamed up with his Qualcomm colleague Greg Fitzgerald, and they founded a project called Solana Labs. Attracting several more former Qualcomm colleagues in the process, the Solana protocol and SOL token were released to the public in 2020. The Solana Foundation has announced that a total of 489 million SOL tokens will be released in circulation. At the moment, about 260 million of these have already entered the market. The SOL token distribution is as follows: 16.23% went towards an initial seed sale, 12.92% of tokens were dedicated to a founding sale, 12.79% of SOL coins were distributed among team members 10.46% of tokens were given to the Solana Foundation. The remaining tokens were already released for public and private sales or are still to be released to the market. Solana price during the initial seed sale, held on April 5, 2018, was $0.04. Given the recent ATH, that represents an impressive 5400X return on investment (ROI). The current CoinMarketCap ranking is #6, with a live market cap of $44,775,942,866 USD. It has a circulating supply of 325,986,610 SOL coins and the max. supply is not available. We have Analyzed the Market Capitalization of this Asset: Technical Analysis: There exist Bullish Divergence of Price Value and MACD , which the sign of bearish trend reversal and start of the new Bullish trend which may lead to the new Economical Cycle. The bullish Trend has already Started and we can notice the Strength. There are Total of 3 Targets defined by the Average Confluences of the Fibonacci Expansion and Fibonacci Trend Base Extension. these confluences Points can even be counted as the Major Pivot Points . The 3 TP gets its confirmation as the Bullish trend Triggers the 2 TP followed by some Price correction and Reaccumulation. on its Up Formation rally. Currently the Price Value is at 48.6% Fibonacci Retracement level from its ATH; it means that, it has broken the 61.8% Fibonacci Retracement as the Resistance level and had rechecked it backed and it has been Proved to be the support area . The Fibonacci Tools have been Drawn From 0$ to the ATH, so the Specified Levels are well Defined and Proved. The Asset is at the Accumulation Level Currently, which means soon the smart money will Flow in it and the Price Value will get Pump and Appreciates. Probably we may not again see this 78.6% Fibonacci Retracement Level or bellow in the current cycle. Our Past Analysis: Initial Asset Acquisition:
Long
by BitonGroup
6
SOLANA LONGS ACTIVE 📉📉📉📉 Expecting bullish price action on SOLANA as price rejected an important area of institutional figure somewhere around 80.00 zone, a risk long entry should be from there. But a more conservative entry would be if price will go above the last highs that will shift the strucutre from bearish into bullish. BITCOIN is very bullish meaning altcoins could go higher because of that, fear/greed index and market seasonality tells us its the best time of the year to enter TRADES. We also have a lot of bearish imbalances aka price inefficicency somewhere around 133 / 166 and price should be magnetized there What do you think ? Comment below..
Long
by AnonimFXRO
SOLANA the last dance- this could be the last run for SOL in this bullmarket, i always liked to stay preservative in my predictions, but SOL was something... - if you stayed with me from the start when Solana was a few bucks, you already made a bunch of money, so don't be greedy and trade wisely. - now Solana went down and retraced for a long period of time, because after touching the moon, it takes long time to come back. - i will link in comments my SOL most interesting older analysis, i recommend to check them all to understand older moves. ------------------------------------------------ Trading Plan ------------------------------------------------ Buy zone 1 : 170-160$ Buy zone 2 : 159-145$ TP1 : 295-325$ ( Security TP ) TP2 : 450-500$ SL : under 120$ ------------------------------------------------ Stay Safe and always follow TheKing for safety! Happy Tr4Ding !
FTX:SOLUSDLong
by thecryer
15
Solana down into the $120 mark?From what we can see Sol has been trending bearish within a channel. The higher marked zone as acted as a very strong support once, however if we come back to it for a second time, it may not be as strong and be more likely to break. The lower zone we have marked which lines up with that $120 region, also has the 200MA and 320 EMA, which if we look back, have always acted as strong supports with the trending price. That can be a strong demand area for buyers.
FTX:SOLUSDShort
by opes_trading_group
Cup & Handle Daily. SOLANA🚀🚀Update! Update!! Solana is bullish, more momentum to the upside imminent for new All Time High. It earlier corrected almost 50%, formed higher lows consecutively After new daily support , shown at previous resistance is holding strongly, from here it bounced to hit same resistance for the third time in a row. This is now Cup and Handle pattern on the daily chart . When broken, first price target is $239 , and continue into " uncharted territory " Previous idea on SOLANA linked below, It played out perfectly " exactly as predicted "; EAP ! Follow 🚶 @CryptonKidd for daily analysis Like 👍 if you agree with this idea
Long
by CryptonKidd
Solana Strategy- Did you notice that after the last run i stopped posting about Solana ? so here the reasons. - if you followed all my Solana older analyses, normally you are rich already and no need to trade anymore, so maybe you are still trading for fun ^^. Remember how violent was Solana Train, Brutal, raging like a formula 1 in starting blocks. But.....when a project makes a rush like that, i take my benefits and switch to another project.. one witch didn't start yet to move up. - so now you have to remember the first rule of Fibonacci, " Everything going up, have to go down! ". i am not saying that SOL bull run is over yet but i can feel in movements some incertitude and a lack of power for now. SOL have to grow with BTC and if the power of SOL trend starts to be weak, it would mean if BTC dip, it will be a bloodbath, and you don't want to be there. - i always do everything for free and try to protect my followers from a brutal REKT, i am here to grow peoples and learn also from the others. ------------------------------------------------------------------------------------------------------------------- So this is my trade recommendation for SOLANA : ------------------------------------------------------------------------------------------------------------------- - now have ABSOLUTELY NOTHING TO BUY, SOL is in a Triangle and the price is more closer from the downside. - i do not recommend to buy between 150$ and 110$, it could be dangerous. - if the triangle is broken up again, Buy SOL around 185$++ ( BUY BREAKOUT in Graph ) - if the triangle is broken down, Buy SOL around 100$ ( REBUY ZONE 1 in Graph ) - Keep some Juice in case of more Dip and Rebuy SOL around 65$ ( REBUY ZONE 2 in Graph ) ------------------------------------------------------------------------------------------------------------------- - TAKE PROFIT : before 335$ ish ------------------------------------------------------------------------------------------------------------------- Stay Safe, Armor yourself with Patience and play Wisely ! i will post some of my older analyses in comments. Happy Tr4Ding !
FTX:SOLUSD
by thecryer
21