SOLUSDT Symmetric Triangle!SOLUSDT Technical analysis update
SOL price is breaking the symmetrical triangle pattern on the daily chart. Before the breakout, the price touched the triangle support multiple times and bounced back.
After a small retest, we can expect a strong bullish move in the coming days.
Buy Level: Above $170
Stop Loss: $145
Regards
Hexa
Solusdtsignal
Solana Primed With Fibonacci Extension and Cup & Handle PatternSolana (SOL), the high-speed blockchain platform often dubbed the "Ethereum killer," has been experiencing a resurgence in recent months. This renewed bullish sentiment is fueled by a combination of technical analysis and positive market developments, leading some analysts to predict significant price increases for SOL.
Fibonacci Extension: A Roadmap for Potential Growth
One of the key indicators attracting attention is the Fibonacci extension. This technical analysis tool, derived from the Fibonacci sequence, is used to identify potential support and resistance levels based on historical price movements. By applying the Fibonacci retracement levels to a prior price swing, analysts can project potential future price targets.
In the case of SOL, some analysts are pointing to the Fibonacci extension as suggesting a potential climb towards a new all-time high. While the specific price point mentioned in the prompt cannot be included, the analysis suggests SOL exceeding its current value by a significant margin, potentially reaching a 300% increase.
Understanding the Significance:
It's important to understand that the Fibonacci extension is not a definitive predictor of future prices. It merely highlights areas of potential support or resistance based on historical patterns. However, in conjunction with other technical indicators and market sentiment, it can provide valuable insights for investors.
Cup and Handle Formation: A Bullish Pattern Emerges
Adding to the bullish outlook for SOL is the formation of a cup and handle pattern on its price chart. This technical pattern is often viewed as a bullish continuation signal, indicating a potential price increase after a period of consolidation.
The "cup" portion of the pattern resembles a U-shape, representing a price decline followed by a rebound. The "handle" is a short, corrective pullback after the rebound. A successful breakout from the cup and handle pattern suggests a continuation of the uptrend, with the height of the cup often serving as a target for the breakout price.
The presence of this pattern on SOL's chart, alongside the Fibonacci extension suggesting a potential new all-time high, creates a compelling case for a bullish breakout in the coming weeks.
Market Factors Supporting the Upswing
Beyond technical analysis, several market factors are contributing to the positive outlook for SOL. Here are a few key drivers:
• Increased adoption of DeFi and NFTs: Solana's fast transaction processing times and lower fees have made it a preferred platform for decentralized finance (DeFi) applications and non-fungible tokens (NFTs). This growing adoption is driving demand for SOL, potentially pushing the price upwards.
• The Merge and its impact: The upcoming Ethereum upgrade, known as the Merge, is expected to increase competition within the blockchain space. Solana's existing advantages in scalability could position it to attract users seeking alternative solutions, further bolstering its value.
• Institutional interest in the crypto market: The growing involvement of institutional investors in the cryptocurrency market is bringing fresh capital and mainstream validation. Solana, with its established technology and strong developer community, could be a prime target for these institutions, leading to increased demand for SOL.
A Word of Caution
While the current sentiment surrounding SOL is bullish, it's crucial for investors to approach the market with caution. The cryptocurrency market remains inherently volatile, and unforeseen events can trigger price swings.
Thorough research into SOL, the broader market environment, and a clear understanding of the risks involved are essential before making any investment decisions.
Looking Ahead
The confluence of technical indicators, positive market developments, and a bullish cup and handle pattern suggest an exciting future for SOL. If the Fibonacci extension proves accurate and a breakout from the cup and handle occurs, SOL could witness significant price appreciation. However, close monitoring of market conditions and ongoing developments within the cryptocurrency space remains vital for investors navigating this dynamic market.
Solana Surges: Price Breaks Resistance, Eyes Higher GroundThe price of Solana (SOL) has embarked on a notable upward trend, surpassing the key resistance level of $135 against the US Dollar. This bullish momentum has instilled optimism in investors, suggesting the potential for further gains in the near future.
Breaking Through the $135 Barrier
Previously, the $135 mark had acted as a significant hurdle for SOL. However, recent buying pressure has propelled the price past this resistance, signifying a potential shift in market sentiment. This breakout indicates increased investor confidence and could pave the way for a sustained price increase.
Technical Indicators Bolster the Bullish Outlook
Technical analysis, which utilizes historical data and price charts to predict future movements, strengthens the bullish case for Solana. One key indicator is the 100-hourly Simple Moving Average (SMA). The price currently sits above this average, implying an upward trend. Additionally, the formation of a bullish trend line on the hourly chart, with support at $138, provides further technical validation for the ongoing price surge.
Potential for Continued Price Increases
Analysts are cautiously optimistic about the potential for SOL to extend its upward trajectory. Some projections suggest the price surpassed the $145 resistance level. However, it's important to remember that the cryptocurrency market is inherently volatile, and unforeseen events can trigger price corrections.
Factors Fueling Solana's Rise
Several factors are likely contributing to Solana's current bullish run. Here's a look at some of the potential drivers:
• Growing Adoption of DeFi Applications: Decentralized Finance (DeFi) allows users to access financial services without relying on traditional intermediaries. Solana, known for its fast transaction processing and scalability, is increasingly being utilized for DeFi applications. This surge in adoption could lead to a higher demand for SOL tokens, driving up the price.
• Upcoming Network Upgrades: The Solana development team is constantly working on improvements to the network. News or anticipation of upcoming upgrades could attract investors and contribute to the price increase.
• Positive Sentiment in the Broader Crypto Market: If Bitcoin, the leading cryptocurrency, experiences a significant price increase, it often has a ripple effect on the entire crypto market, including Solana.
Potential Challenges on the Horizon
Although the current outlook for Solana is positive, there are still uncertainties to consider. For instance, increased regulatory scrutiny on cryptocurrencies by governments or a major security breach on a Solana-based DeFi platform could dampen investor confidence and trigger a price decline.
Conclusion: A Cautious Optimism
Solana's recent surge above $145 is a positive development for investors. Technical indicators and potential catalysts like DeFi adoption and network upgrades suggest the possibility of further gains in the near term. However, the cryptocurrency market remains unpredictable, and investors should exercise caution and conduct thorough research before investing in any cryptocurrency.
Is Solana (SOL) reclaiming $180?Solana price has displayed a similar price action by recording a significant correction in its respective portfolio. With the rising price volatility in the crypto space, will Solana price record a bullish reversal this week or plunge toward its new low?
Following, the ongoing cross-border market correction, the Solana price has lost 4.61% in valuation within the past 24 hours with a trading volume of $2.265 Billion, a change of +9.53%. Further, it has plunged 10.48% during the past week and 18.90% over the past 30 days.
The Solana price has been trading within a closed range since mid-April, indicating a weak price action for the altcoin in the crypto market. Moreover, the SOL price has formed a resistance zone above its resistance level of $155, highlighting a strong selling point at that level.
However, strong buying pressure has also formed close to its crucial support trendline around the $120 level, indicating a high possibility of a bullish reversal for the Solana price at that point.
If the market holds the SOL coin price above its crucial support level of $127, the bulls will regain momentum and head toward its resistance level of $155. Maintaining the price at that level will set the stage for Solana price to attempt to test its upper resistance level of $181.50 this month.
However, if the bears continue to dominate the market, the SOL crypto will plunge toward its crucial support level of $127.00. Moreover, if the bulls fail to hold the price at that level, it will prepare to test its low of $100 during the upcoming weeks.
SOL BULLISH SETUPSimple setup with easy invalidation here on Solana. Price is moving following the short term trendline I drawed, and I expect an upside moves in the coming hours. Invalidation is a clean break below $140.0, that could lead the price to retrace till $130.0. First target for the long is $165.00
VanEck Seeks First-Mover Advantage with Solana ETF FilingVanEck, a leading innovator in the exchange-traded fund (ETF) space, has made a strategic move to capitalize on the growing popularity of Solana by filing an application with the Securities and Exchange Commission (SEC) to launch the first-ever Solana ETF in the United States. This filing, announced on June 27 via the X platform, signifies VanEck's commitment to expanding its cryptocurrency investment offerings and reflects the company's belief in the potential of the Solana blockchain.
The proposed ETF, named the VanEck Solana Trust, aims to directly track the price performance of Solana (SOL), a prominent cryptocurrency known for its high transaction speed and scalability. According to the preliminary prospectus filed with the SEC, the Trust will achieve this by directly holding SOL tokens in its reserves. These tokens will then back the shares issued by the VanEck Solana Trust, essentially offering investors indirect exposure to Solana's price movements.
The listing venue for the VanEck Solana Trust is planned to be the Cboe BZX Exchange, a prominent platform for trading exchange-traded products. This selection indicates VanEck's intention to provide investors with a familiar and well-established marketplace for accessing Solana exposure through a traditional ETF structure.
This filing by VanEck holds significant implications for both the company and the broader cryptocurrency market. Here's a closer look at the potential impact:
For VanEck:
• First-Mover Advantage: By positioning itself as the first applicant for a Solana ETF in the US, VanEck has the potential to capture a significant share of the market if the SEC approves the filing. This could attract investors seeking convenient and regulated exposure to Solana without the complexities of directly acquiring and managing cryptocurrency tokens.
• Diversification of Crypto Offerings: The VanEck Solana Trust filing represents the company's continued expansion into the cryptocurrency asset class. With existing offerings like the VanEck Bitcoin Strategy ETF (VBIO) already in the market, VanEck demonstrates its commitment to providing investors with a range of options for participating in the digital asset space.
For the Crypto Market:
• Increased Investor Adoption: A SEC-approved Solana ETF could significantly increase mainstream investor adoption of Solana. ETFs offer a familiar, regulated investment vehicle, potentially attracting those hesitant to directly engage with cryptocurrency exchanges. This broader investor base could bring increased liquidity and stability to the Solana market.
• Validation of Solana: The SEC's potential approval of the VanEck Solana Trust would serve as a significant validation of the Solana blockchain's technology and its potential for real-world applications. This recognition from a traditional financial institution could further bolster confidence in the Solana ecosystem.
However, it's important to acknowledge some key considerations:
• Regulatory Hurdles: The SEC has historically taken a cautious approach towards approving cryptocurrency ETFs. The VanEck Solana Trust will need to meet the SEC's stringent regulatory requirements before it can be launched. The approval process could be lengthy and uncertain.
• Market Volatility: The cryptocurrency market remains highly volatile. Investors considering the VanEck Solana Trust should be prepared for significant price fluctuations in the underlying SOL token, which will directly impact the value of their ETF shares.
In conclusion, VanEck's application for the first US-based Solana ETF marks a significant development for both the company and the cryptocurrency market. If approved, the VanEck Solana Trust could pave the way for wider investor adoption of Solana and further validate the potential of this innovative blockchain technology. However, investors should be aware of the regulatory hurdles and inherent price volatility associated with cryptocurrency investments.
SOL MARKED STRUCTURE SHIFTED INTO BULLISH | READY FOR 200$.Whole market was struggling in recent days. If we look at SOLUSDT chart then it has taken higher time frame poi with liquidation hunting wick. Now has broke through recent high and did clear market structure shift into bullish side. So as MSS has been done so we are looking for FVG and Sell side liquidity to build long position, which I have marked onto the chart as well. You can keep eye on that marked FVG and SSL.
SOLUSDT Elliott Waves AnalysisHello friends.
Please support my work by clicking the LIKE button👍(If you liked). Also i will appreciate for ur activity. Thank you!
Everything on the chart. (update)
Everything according plan
Entry: (first buy ~120, and still have limit order at 95)
Targets: 190 - 250 - 330
after first target reached move ur stop to breakeven
Stop: (depending of ur risk).
ALWAYS follow ur RM
risk is justified
Good luck everyone!
Follow me on TRADINGView, if you don't want to miss my next analysis or signals.
It's not financial advice.
DYOR!
SOLANA USD Bearish Robbery Plan to steal moneyMy Dear Robbers / Traders,
This is our master plan to Heist SOLANA / USD Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart. Our target is Green Zone that is High risk Dangerous level MA act as a Dynamic Support & Order Block, So the Market is oversold / Consolidation / Trend Reversal at the level Bullish Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Note: Day traders & Scalpers If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money Use Trailing Stop To Protect Looted Money and wait for next breakout of dynamic level / Order Block, Once it is cleared we can continue our heist plan to next new target it will update after the Breakouts.
support our robbery plan we can easily make money & take money 💰💵 Join your hands with US. Loot Everything in this market everyday.
SOL - Were you entertained?At $21 I predicted SOL will get back to ATH. (see below)
This is an update of the idea where I provide detailed comparison to a bearish shark. This also plays with how I see BTC and rest of crypto. Unlike what is being said by others, I believe we are closer to the end of the crypto rally.
Please boost idea and follow.
Solana (SOLUSDT): Buzzing towards Honey Voyage $189Join CryptoHoney Traders Kingdom on a swift expedition targeting $189.
Our analysis blends technical patterns with market dynamics, suggesting a potential climb.
We've spotted strong support that's been a reliable launchpad for upward trends, and with our indicators aligning, our thesis strengthens. However, we're not without caution—our stop loss at $134 is our safety net, carefully placed beneath crucial support to protect our capital.
Remember, the crypto landscape is as dynamic as a hive, with movements influenced by a myriad of factors beyond the charts.
Take this insight, and if it resonates with your trading philosophy, consider it a single comb in your diversified strategy hive. Trade with the wisdom of the hive mind, and let's aim for sweet returns.
🗺️Solana Roadmap🗺️📈Today, I want to analyze the Solana(SOL) project for you. Is it possible to create a New All-Time High(ATH) or not ❗️❓
🤝Please be with me.
❌Solana(SOL) was unsuccessful in the first Attack on the 🔴 Resistance zone($259.9-$196.40) 🔴 to create a new All-Time High(ATH) .
🌊In terms of Elliott wave theory, Solana(SOL) seems to have completed the main wave 3 at the Resistance zone and is currently completing the main wave 4 .
💡Before the result, let's look at the SOLBTC chart .
💡SOLBTC is moving near the Resistance line and Potential Reversal Zone(PRZ) . I expect SOLBTC to fall at least to the Support line , and if SOLUSDT is also bearish, the downward momentum can increase .👇
🔔I expect the main wave 4 to finish at the 🟡Potential Reversal Zone(PRZ)🟡 or 🟢 Support zone($82.00-$56.10) 🟢.
❗️⚠️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.
Trading Signal For SOLUSDT Solana Trading Setup:
A Trading Signal is seen in the SOLUSDT
Traders can open their Sell Trades NOW
⬇️ Sell now or Sell on 151.25
⭕️SL @ 156.50
🔵TP1 @ 129.80
🔵TP2 @ 118.90
🔵TP3 @ 102.00
What are these signals based on?
Classical Technical Analysis
Price Action Candlesticks Fibonacci
RSI, Moving Average , Ichimoku , Bollinger Bands
Risk Warning
Trading Forex, CFDs, Crypto, Futures, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results.
If you liked our ideas, please support us with your likes 👍 and comments .
SOLUSDTSolana analysis
Weekly and daily time frame
Solana experienced a deep correction after hitting the weekly supply area.
Now it has its weekly midline trading range and daily trading floor range. If the area is maintained, the price can once again touch the ceiling of the weekly supply area. And in case of losing the daily peak zone, we can move towards the weekly support zone
Solana, Road to $276Solana reach a strong trendline support, and perform a symmetrical triangle pattern.
If you wanna follow bullish at solana,
this is the right moment to enter with short term target at $169,
and if this pattern break up, my target at symmetrical triangle projection at $276.99 with 89% profit
I will update this analysis if i found a new key level.
thanks.
Btw, there is a lot of bullish coin today, If you have any request analysis, fells free to write it at comment.
Solana Searching For Direction: Will SOL Break Free Or Fall Flat
Solana (SOL), the high-speed blockchain once leading the charge in the 2023 bull run, finds itself in a state of uncertainty. Over the past few days, SOL's price has been stuck in neutral territory, oscillating between $155 and $170. This stagnant price action leaves investors both cautiously optimistic and undeniably confused about the future direction of the cryptocurrency.
Conflicting Technical Signals
Technical indicators often used to gauge cryptocurrency price movements paint a conflicting picture for Solana. On the bearish side, the dreaded "death cross" has emerged. This ominous signal occurs when the 50-day moving average dips below the 200-day moving average, historically indicating a potential short-term price decline.
However, a glimmer of hope remains. The Relative Strength Index (RSI) for SOL currently sits in neutral territory. While not a bullish sign in itself, a neutral RSI suggests some underlying buying pressure, even if it's weak. This contradicts the "death cross" and hints that a significant price drop might not be imminent.
External Factors Loom Large
Beyond technical indicators, external factors could significantly impact Solana's future trajectory. Regulatory decisions from governments and financial institutions remain a wild card. Stringent regulations could dampen investor confidence and hinder the growth of the entire cryptocurrency market, including Solana.
Furthermore, the broader market sentiment plays a crucial role. If the overall cryptocurrency market experiences a significant correction, it's highly likely that SOL would be dragged down along with it, regardless of its own technical merits.
Solana's Strengths: A Beacon of Hope?
Despite the current uncertainty, Solana boasts several strengths that could propel it forward. Its blazing-fast transaction speeds and scalability have attracted developers seeking to build innovative decentralized applications (dApps) on its platform.
A thriving dApp ecosystem is crucial for any blockchain's long-term success. If Solana can continue to foster a vibrant dApp developer community, it could drive increased demand for SOL, potentially leading to a price surge.
Analyst Predictions: A Mixed Bag
Looking ahead, analysts offer a mixed bag of predictions for Solana's price. Some, like the report from CoinCodex, project a bullish surge to $185 by July 10th. This optimistic outlook hinges on the assumption of positive developments within the Solana ecosystem.
However, this bullish sentiment clashes with the bearish technical indicators and the "greed" reading on the Fear and Greed Index. A high "greed" reading can sometimes indicate an overvalued market, potentially leading to a correction.
The Verdict: Wait and Watch
In conclusion, Solana's current state presents a complex picture for investors. While technical indicators are sending mixed signals, the broader market environment and potential regulatory hurdles add further uncertainty.
However, Solana's core strengths in speed and scalability remain attractive. The continued development of a robust dApp ecosystem could be the key to unlocking SOL's true potential.
For now, investors should adopt a wait-and-watch approach, closely monitoring both technical indicators and external factors that could influence Solana's price.
$SOL LOOKING BULLISH FROM HERE👨🏻💻 CRYPTOCAP:SOL /USDT
#SOL surged and broke above the key $170 level, indicating bullish strength📈
If price moves above $175 previous resistance, it suggests strong upward momentum🧐
The target resistance zone is identified at $188.50🎯
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CRYPTOCAP:SOL BINANCE:SOLUSDT