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Solona

Solana (SOL) Technical Analysis - March 24, 2024Solana Eyes Resistance Breakout - Will Bulls Charge Towards All-Time Highs? What is Solana (SOL)? Launched in 2020, Solana is a high-performance blockchain platform designed to address scalability issues plaguing some older blockchains like Ethereum. Solana boasts fast transaction speeds and low fees, making it a viable platform for decentralized applications (dApps) and the development of Web3 technologies. SOL is the native cryptocurrency of the Solana blockchain and serves several purposes: Transaction fees: Users pay SOL to interact with the Solana network and execute transactions. Staking: SOL holders can stake their tokens to earn rewards and contribute to the security of the network. Governance: SOL holders have voting rights on proposals that shape the future of the Solana ecosystem. Solana's History and Price Performance: Developed by Anatoly Yakovenko, Solana gained significant traction in 2021 due to its focus on scalability and its position as a potential "Ethereum killer." The price of SOL skyrocketed from around $5 in early 2021 to an all-time high of $259.90 in September 2021. Since then, the market has undergone correction, but SOL remains a prominent player in the cryptocurrency space. Solana (SOL) Analysis Following a strong rally, Solana is currently undergoing a corrective phase. After more than doubling in price in under a month, SOL is consolidating its gains. Key Technical Levels: Resistance: $191.77 (critical breakout level), $208.69 (next resistance) Support: $154.44 (current support), $140.00, $125.55 All-Time High (ATH): $259.90 (reached in September 2021) All-Time Low (ATL): $0.50 (reached in April 2020) Solana's Climb and Potential Breakout: SOL faces a significant resistance barrier at $191.77. A decisive break above this level could trigger a strong upswing towards the all-time high of $259.90. Conversely, failure to breach this resistance might lead to a pullback towards the support zone around $140.00. Similar Coins to Consider: Cardano (ADA): Another smart contracts platform focused on scalability. Polkadot (DOT): A blockchain protocol facilitating communication between different blockchains. Avalanche (AVAX): A high-throughput smart contracts platform like Solana. Conclusion: Solana is at a crossroads. A successful breakout above $191.77 could reignite the bullish momentum and propel SOL towards its record highs. However, a rejection at this level indicates a potential decline. Important Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and employ proper risk management strategies before trading any cryptocurrency. Volatility Warning: The cryptocurrency market is inherently volatile. The price of Solana can fluctuate significantly in a short period.
Long
by atamq
SasanSeifi 💁‍♂SOL/4DAY Long-Term 🧐 Hey there,✌ Solana's price oscillated between $10 and $27 for an extended period. After breaking the long-term downtrend line, the demand for SOL increased, resulting in an upward trend for approximately 6 months. the price has ranged and accumulated volume around $100 before surging to $207. Current Movement: The price is heading towards its previous all-time high (ATH) of $259. Scenarios: 1. If the momentum weakens around $250 and is confirmed, the price may experience a correction. After a pullback, we can expect further growth in the long term. 2. If the price faces demand and breaks above the previous ATH, the first target would be the $350 price range. The chart above illustrates the possible trends and long-term targets for Solana. Long-Term Support Levels: $130 $100 (The chart is logarithmic.) Remember, this is just a technical analysis and not financial advice. Always do your research before making any investment decisions.❗❌ I hope this analysis was helpful! If you have any questions, feel free to ask.✌
Long
by SasanSeifi
TRB CAN FALL SAME AS SOLANA AND BNX DID.. Below $100Thanks for reading this update, remember that this update is not trading advice, but a chart view of what we expect. We expect that TRB is going to break down in the coming time, there is nothing riskier in trading than the fomo volume. We have added before about the increased volume since this coin is a t $48 , the most TRB Volumes that are running now are from Bika . And Bika is not a holding platform. Binance was also the top holder of BNX.. By this previous update, we did expect an increase before it happened from $48. Since today and depending on our study on this coin seems that it has a high chance of falling, we expect that it can fall below $100 The same effect that BNX and Solana have done before, this coin can do similar. Further, this coin doesn't have a maximum supply, which means there can be added unlimited new coins that can affect the price action, and the exchange that did pump this coin is known to take profit exchange. Trading TRB is very risky, it can have a time of pumping when the price time frame of increase is over, and it can enter into a fall. Our study is done with high tools, including the technical view of the coin and the data of whale transactions and volume range study.
Short
by SatochiTrader
2
ANT: POSSIBLITY TO INCREASE INTO NEW BREAKOUTBefore the FTT news, The crypto market was on a very important level to increase, and it was building for a new uptrend. This did change a lot as its unexpected news. Today we did scan the ANT coin which shows that it has the possibility to break out since it's on an important level. Know that same time it can take more time, it's more interesting to follow this period as it's on the important range. It was a time with no trading zone, but markets can change with time. Possibility targets 3.17 and 4.04 USD if there is a coming time of more trend volume power it could go to higher targets. The scan of this moment shows that this coin is interesting to follow. Same time it can take some time before this target will get confirmed.
ALong
by Goldenbreakout
3
#SOLUSDT #SOLONATrade setup: Following a bearish breakout from Ascending Triangle, price remains stuck in a Sideways Channel ($30-45). Swing trader could enter near $30 support and exit near $45 resistance zone. (set a price alert). Solana is experiencing strong adoption by NFT projects, which is driving solid growth in transaction volumes. Trend: Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis. Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral). OBV (On Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium Support and Resistance Nearest Support Zone is $30, then $25. The nearest Resistance Zone is $45, then $60.
by Cryptbergofficial
INJ Decentralized Blockchain :LONG TERM BETTER THEN SOLONA INJ can become the SOLONA OVER GAME COIN with price action, and can increase over the known Solona at long term. Its now unknown coin, but it shows that it have on side of blockchain and also on price action a great market. Its interesting to follow INJ to see when we can expect the first breakout 3 USD, from there the area are open to 7 USD and 15 USD as high target. This all are personally view. Depending on price action. INJ moving into the side of stable trend, and can make soon some price action where we are going to see some breakout trends. At this moment INJI show healty price action and its on range.
Long
by Goldenbreakout
5
SOLUSDT ! Broke rising wedge pattern, looking very bearishHello traders 👋 On Aug 18, downtrend line broke rising wedge pattern. Therefore, it is more than likely downtrend line will continue. It confirms my trading analysis that I did on aug 9. After rising wedge pattern tests resistance line, it formed strong downward price movement. The sellers were waiting for the pattern to break the support line and they ordered sell orders which executed once orders had been confirmed. There were a lot of sell orders. As rise of DXY, it might not have a good impact on crypto market. Also to confirm there is a downtrend, 50 and 200 EMA curving downward.
Short
by YertuntsTrader
Short position for SOLUSDT- The main bearish trend is still going on - Momentum is still bearish - Short term trend line has just been broken Entry Point: $33 to $34 Stop Loss: $36 First Target: $28 DO YOUR OWN ANALYSIS. DO NOT FORGET MONEY MANAGEMENT. Things you might like: - Trend Key Points Indicator has been used to draw important key levels and key points. - You can use Big Moves Indicator to be aware of major moves on the chart by marking them and getting alert for them. - 🔥 Bitcoin vs Gold
Short
by bhnmzm
Solana Analytic📈Analysis of Solana cryptocurrencies The price has dropped a lot after the downward trend and the conditions related to the Luna project and the whole market have come and gone. Considering the chart conditions and the arrival of candlesticks on the midline and the positive market conditions, if we see an upward wave, considering the start from the midline, we can have the return of this project and exit the descending channel. ✅This is a good time to invest and hold
Long
by WoasMoji
2
SOLUSDT has broken below Support $106SOLUSDT has been making LHs and LLs after massive rejection at $138. It has been on a down trend and after breaking below $106 it is expected to go lower. It has also broken below a major trend line which is another indication for us. Above $120 this signals would be invalid. the first Target profit for this trade would be at $96.00 💎 SOLUSDT 🔵 Entry zone 113.78 - 104.32 🟢 TP1 96.00 🟢 TP2 86.00 🟢 TP3 70.00 🔴 SL 120.00 Good Luck 🎲
Short
by Fibonacci-Signals
2