Bump and Run scenario with an Vshape recoveryWe could see further recovery to the upside for solana in the short term
We started the downtrend with an Lead-In trendline that connects the lower highs
The downtrend accellerated with an Bump-fase and faster downside happened with a series of lower highs
Yesterday we broke the Bumptrendline with volume and since then we went sideways
Because of the fast downtrend in the Bump-fase we can see clearly the left half of an V-shape recovery
Due to the sideways priceaction this could still be a V-shape Bottom but with an extension then
So i expect solana to at least tag the Lead-In Trendline and possible have a run if we can break above it
SOLUSD
SOL will go up?Let’s start by looking at the 1D chart:
SOL experienced a significant decline from its high point of 38.75 to 7.535, followed by a price rebound to 26.826. Currently, SOL is consolidating between 26.826 and 19.459, and there is a chance of a bottom formation near the support level of 19.459.
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On the 4hr chart, SOL has broken through the downtrend line and found strong support at 20.351. The following targets can be monitored:
22.132
22.503
22.836
23.169
SOLUSD: Time To BounceSOL has been under pressure over the past week or so following SEC enforcement actions against Binance and Coinbase, in which both cases the SEC claimed SOL (amongst others) is a security. This led to some exchanges, like Robinhood, delisting the token. However, others haven't (yet) followed suit, nor do I expect them.
These kinds of lawsuits will take years to play out and have scared a lot of people in the short-term. However, Solana remains one of the best altcoins from a risk-reward standpoint and has several unique narratives in favor of it (monolithic chain, only non-EVM chain that unanimously a threat, L2s won't scale ETH, recent network upgrades, etc.). Not to mention, we continue to see all sorts of innovation coming out of the ecosystem that truly is "Only Possible On Solana," or "OPOS" as the community calls it!
That said, there is likely to be plenty more time to accumulate. However, the recent pullback has made for an excellent time to buy if you're sitting on cash.
Things to consider:
• The 14-day RSI is currently at levels last seen when FTX collapsed (Nov. 2022) and when forced selling/tax loss harvesting/liquidations drove SOL sub $8 into year-end (Dec. 2022)
• The near -50% retrace from local high coincides with a bounce off of the golden 0.618 Fib retracement level
• Look at the way back to when SOL first started trading and draw a support line. You'll see the latest move to sub $13 coincided with a backtest of said support.
Trade Alert - Long SolanaTraders,
Solana has hit it’s previous inverse H&S neckline for a classic retest and should bounce soon provided BTC maintains its position above 25,300 tomorrow.
Position = SOL
Direction = long
Entry = 14.47
Stop Loss = 12.88
Take Profit(s) = 200 ma/19.61-19.65
Risk/Reward = 3.37/1
Best,
Stew
SOL, ADA, LINK,NEO,TEZOS AND FILECOIN analysis for JuneLast Saturday gave us multiple entries on multiple coins. And as I always say ,price will hit your entry zone mostly during bad news (in this case the lawsuit against Coinbase and the attack of SEC on some coins like ADA and SOL).
Disclaimer: This is not a financial advice and please do your own analysis before investing and only invest what you can afford to lose.
Robinhood to delist SOL SolanaIf you haven`t sold Solana here:
Then you should know that Robinhood, the well-known trading platform, will discontinue its support for three cryptocurrencies implicated in SEC lawsuits against Binance and Coinbase.
Effective from June 27, 2023, Robinhood will no longer provide support for Cardano (ADA), Polygon (MATIC), and Solana (SOL).
In My opinion MATIC will test the support of 13usd.
Looking forward to read your opinion about it.
$SOL update: buy in green ($11), sell in red ($111+)Updating my previous chart to account for a correction that I think will play out prior to $SOL hitting it's final target.
Here's my plan:
Buy in the green- around $11.
Sell in the red - around $111-$134-135
I think this entire move will play out over the next 3-4 months (if not sooner). I don't care what happens in the middle of the chart.
The support and resistance levels are the only levels that matter to me. The orange lines are take profit levels on the way up.
Let's see if it plays out as expected.
SOL 2021-2025 vs ETH 2017-2021SOL is my biggest conviction play
The ETH 2017-2021 fractal has been a framework/tool to help identify where we are at in the SOL cycle for the past couple years.
If it ain't broke, don't fix it.
SOL fundamentals are strong, have increasing dev activity, increasing developments (SAGA phone I highly recommend), and will keep gaining users and traction.
Anyone that says "SOL is the next EOS" you need to unfollow immediately. People actually use Solana.
Anyways, have a good weekend, and a good summer, I am heavy spot long on $SOL.
GL HF, not financial advice.
-@CryptoCurb
Solana is it time for a retest?Here I am again testing the ALPHA and ALPHA NOVA indicator, we will see what it will bring, we have something to test there, the reasons to go up are here, so we will see.
For me, overall, either there will be another phase and the whole market will go up or it will go according to the summer scenario and we will look at very ugly numbers.
SOLANA - Breakout Imminent!Solana has recently completed wave 2 with a nice impulse early 2023. we are now seeing a sideways correction for a move higher.
We anticipate the bottom to be in so it allows us to have a strict invalidation level. The upside is over 1000% whilst the downside is very limited.
Trade Idea:
- Watch for a strong impulse higher breaking the red trendline
- Stops below the correction or safer stops below the bottom
- Targets: 70, 100, 240, actively manage the rest
Goodluck and as always, trade safe!
SOLUSD ❕ tests the resistanceSolana is moving under liquidity and trading volumes are up on the downside.
The RSI chart is moving in bearish zone at 4H, 1H and 30m TFs.
The 50EMA has broken down the 200EMA at 30m TF.
I believe the asset will continue to decline after confirming the resistance level.
Possible elliot wave count on SolanaSolana could be finishing wave 2 of the elliot wave count in a flat correction
The 3th wave in this idea is already starting so whe expect some upside to at least the 1.618 fib extension to 115, an 6x that's right
Because of the high target i don't expect the 5th wave to be much higher
On the chart you can also could identify some sort of an complex inverse head and shoulders
And even on the daily chart you san see another simpel inverse head and shoulders and also holding the 200 sma als support
SOLETH OpportunitySolana (SOLETH) pair weekly chart is presenting us with a great opportunity to grow our ETH holdings with a SOLETH trade over the next several months.
This is based on the weekly chart so it will take 2-3 months to play out. Solana is getting ready to gain against ETH. This could happen in several ways. One way simply is that SOL gains in price in a significantly faster pace against the ETH .
Another way it could happen is that ETH falls while SOL stays pretty stable range bound.
The right side of the chart is showing possible USD valuation of the move while the chart on the left side is the SOLETH pair. Either way I'm expecting an exponential move in SOL price on the way to .618 fib retracement levels.
I'm exchanging some of my ETH to take this trade. Again regardless of the USD price, the goal is to accumulate more ETH in the long run. And if it doesn't work I have a great allocation of SOL that I don't mind holding for the long term.
My initial price target for SOL is $30. If we break that on a weekly close, my next target is $46. I will be taking profits back to ETH, if we hit those levels.
Not a financial advice so DYOR.
Solana SOL and the US Debt CeilingNegotiators from Democratic and Republican parties finalized an agreement on Sunday night.
Instead of raising the limit to a specific level, they have opted to suspend it entirely until 2025. This strategic move ensures that their bills can be paid until that date, while also guaranteeing that the next battle to raise the ceiling will not coincide with the upcoming presidential election.
The resolution of the debt ceiling issue brings optimism and stability to the financial landscape, which has a positive ripple effect on the cryptocurrency market.
Bitcoin and the broader crypto market stand to benefit from increased investor confidence, reinforced safe-haven status, enhanced institutional adoption, regulatory clarity, and the overall positive impact on global markets.
SOL/USDT
Entry Range: $19 - 21
Take Profit 1: $23
Take Profit 2: $25
Take Profit 3: $27
Stop Loss: $17
SOLUSDT : Setting Up for a BIG MOVEHi Traders, Investors and Speculators of Charts📈📉
Solana / SOLUSDT has some GREAT upside potential from this point, and SOL is no stranger to parabolic upside movements. We know this because:
✅ SOLUSDT Macro Cycle analysis shows Accumulation Phase
✅ SOLUSDT established a clear bottom
✅ SOLUSDT is currently trading rangebound AFTER bearish cycle has completed
✅ According to market cycle / phase analysis, the next step to follow is the bullish cycle
✅ Clear support zone & resistance zone -ranges can be identified by using Technical Indicators
With the help of two technical indicators ( Marty's Moving Averages & CryptoCheck FlipMO v2) we can confirm the conclusion made from the analysis of the chart's macro perspective : we are currently trading in range-bound accumulation phase. It's not ideal to trade in rangebound zones between support zone and resistance zone since this is the ideal place for stop hunt algorithmic trading bots to trade, often causing shakeouts.
Even thought the price may continue to trade range bound for a period of time , the next big market cycle is clearly the bullish phase.
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CRYPTOCAP:SOL BINANCE:SOLUSDT COINBASE:SOLUSD BINANCE:SOLUSD BINANCE:SOLUSDT.P BINANCE:SOLBTC BINANCEUS:SOLUSD CRYPTOCAP:SOL.D OKX:SOLUSDT.P KRAKEN:SOLUSD
$SOLUSD - Falling wedgeHi guys! 👋🏻
🔔 Solana is forming a falling Wedge and waiting for a breakout to reach the targets
🔔 New Ethereum - Solana bridge which is an EVM on Solana coming, so expecting a high impact of this product on both blockchains.
🔔 Falling wedge is a sign for a trend reversal. Breakout will signal for an uptrend in this case.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
SOlong brudders its time Solana summer Solana summer les go bb
i need money this summer to go to the beach i need some old man sandles and a kiddie pool
Summer is here, and it's time to embrace the sun-drenched days with the spirit of adventure! Solana, the perfect destination for a memorable getaway, beckons with its inviting beaches and vibrant atmosphere. However, to make the most of this incredible experience, a few essentials are necessary. Firstly, money becomes a valuable asset to fund the exciting escapades and create lasting memories. Whether it's indulging in delicious seaside snacks or participating in thrilling water sports, having some extra cash ensures a worry-free summer. Additionally, the attire plays a crucial role in enjoying the beach vibes to the fullest. A pair of old man sandals provides comfort and style as you stroll along the sandy shores, feeling the gentle caress of the waves. Furthermore, a kiddie pool adds a touch of whimsy to the beach experience, allowing you to create your mini-oasis for relaxation and play. So, let's embrace the spirit of Solana, soak up the sun, and make this summer an unforgettable adventure by fulfilling these desires.