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Solana touched $204 and will now target $375Traders, In my previous post on Solana I explained the significance of that blue trendline. When Solana was at $260, I observed that while BTC consolidates with sideways price action, Solana could drop to $204 (pink horizontal support). It did that. In fact, we hit that price several times and so far that support has held. I have now taken a long position and will be targeting $375. on SOL. Here's my quick thesis. First of all, you will notice that inverse head and shoulders pattern. While it hasn't completed yet, nor confirmed, I highly suspect the pattern will play out. There are several reasons why this could be the case. Number one. The rotation of alts is different this year. In case you haven't observed this yet, it goes something like this: Bitcoin pumps either slightly before or sometimes simultaneously with Solana and Solana based meme coins. Often, Solana based memecoins, especially AI genned mcs, are even ahead of Solana and Bitcoin. I have started to observe this recently while looking at my Solana mc list. Many of the Sol AI genned mcs were up yesterday and today. Now, maybe I got lucky and just picked all the right coins to add to my list, but I don't think so. One of my mcs was up almost 900% today at it's peak. That was DEVIN. I am so stoked 'cuz I hold a huge bag in that one. Anyways, I think this is giving me my first hint that the pump rotation is just about to begin again before Christmas. It often starts with SOL based AI mcs first, then other mcs like the OG cats, dogs, and frogs, etc. Then we hit the dex's like Jupiter, Ray, GUAC, Orca, etc. Then you'll see SOL start (maybe in conjunction with BTC). Next you'll start to see other chain based mcs pump along with AI coins like FET, TNSR, AIOZ, NEAR, etc. Last but not least, you'll see the OG Boomer ALTS pump to finish it up. My suspicion is that we get one more round of something like this before Christmas. I could be wrong but so far, my record speaks for itself here so be prepared for this. ✌️ Stew.
COINBASE:SOLUSDLong
by stewdamus
2
Solana - Finally Initiating The Bullish Breakout!Solana ($CRYTO:SOLUSD) is finally breaking above the highs: Click chart above to see the detailed analysis👆🏻 In the end of 2023, Solana create a so called reversal triangle breakout and rallied more than +1.000% over the past couple of months. However looking at the current all time high breakout rally, this might still just be the beginning of the next massive Solana bullrun. Levels to watch: $200, $500 Keep your long term vision, Philip (BasicTrading)
CRYPTO:SOLUSDLong
by basictradingtv
8
Is the bull trend over for Solana?The new head of the SEC, Paul Atkins, with a background in a digital asset think tank, has sparked excitement about the future of crypto. However, as we've seen in recent days, profit-taking has been significant. Solana is down roughly 22% from its all-time high, and the price is now testing the highs from March and the lows from November. This key area spans from approximately $207 down to $194 per coin. As long as Solana stays above this level, there’s a genuine chance for a push to the upside. What's also notably different now compared to just a few days ago is that funding fees have dropped sharply. For Solana, the funding fee is currently at 11% on the largest crypto exchange. If the $194 level does not hold, we might see a steeper slide toward the highs of May, July, and October, around $182. However, in this broader area, traders are likely to be keen on supporting the trend. Fundamentally, nothing has changed with the market and it’s likely just undergoing consolidation after the strong gains seen across the board following the election. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
THINKMARKETS:SOLUSDLong
by ThinkMarkets
SOL Swing Trade: From $175 Support to $800 TargetIn this video, we revisit Solana's (SOL) price action, highlighting the progression toward our entry target of $100 as discussed in March. Now facing resistance at the previous all-time high (ATH), a pullback appears both healthy and likely. We'll analyze the potential for support levels to hold, with $175 being a key structural level. From there, Solana could chart a path to our profit targets: $500 for a 2x return and $800 for a 5x return. Join me as we explore strategic entry points, key levels, and market conditions driving SOL's performance, and discuss how to capitalize on this exciting opportunity for swing traders.
BINANCE:SOLUSDLong
by PlutusX
Solana (SOL/USD): Eyeing a Return to All-Time HighsSolana is in a critical phase, attempting to reclaim its all-time high (ATH) of $260 as it builds bullish momentum. With Bitcoin (BTC) stabilizing in the $92,000–$103,000 range, the broader crypto market is ripe for a rally, providing the perfect environment for SOL to break its ATH and target a new high of $400 by March 2025. Key Factors for SOL’s Rally: Bullish Momentum Curve: December will be pivotal as Solana needs to form a steady, upward momentum curve. This means a series of higher highs and higher lows, with minimal volatility to maintain investor confidence. Critical Support Levels: $200: Key psychological and technical support. Staying above this level will signal strength and resilience. $180 (Worst Case): If SOL drops to this level, it must find strong buying support to avoid breaking the bullish structure. Resistance at $260: The $260 ATH will be a critical barrier. A successful breakout here will not only confirm the bullish trend but could ignite a wave of buying that propels SOL toward its next target of $400. Positive Scenario: If SOL/USD continues to defend the $200–$180 range and Bitcoin remains stable, Solana can gain the momentum needed to break $260 by early 2025. Once this level is breached, SOL could rally quickly, entering price discovery mode and targeting $400 by March 2025. Risks and Challenges: A failure to maintain support above $180 could lead to increased selling pressure, disrupting the bullish outlook. Broader market volatility or BTC dropping below $92,000 might also hinder SOL’s progress. Outlook for SOL Holders: This December is crucial for Solana as it battles to establish a solid base and regain momentum. Holding above $200 while building a steady bullish curve will set the stage for SOL to not only reclaim its ATH of $260 but also push toward a new milestone of $400 by March 2025, marking a significant achievement for the ecosystem and its investors.
BINANCE:SOLUSDLong
by QuantumFusionWave
SOL - Bullish or Bearish?SOL seems to be facing an unstable head-and-shoulders pattern, with the possibility of striking key support levels. The Moving Average Convergence Divergence (MACD) shows that SOL struggles to cross the zero line, indicating bearish sentiment. The Relative Strength Index (RSI) has been coming down from overbought conditions since December 3rd. The 20-day moving average (20ma) and the 200-day moving average (200ma) are converging, potentially undoing the golden cross formation observed on October 13th. This could signal a possible reversal. It's possible that we might see a shakeout followed by a bounce to the upside, or SOL may consolidate at key support levels before bouncing. Keep an eye on its movements. Support - $215 Resistance - $246 Fear and Greed Index - 78 (Greed)
COINBASE:SOLUSD
by LOWCO_487
5
Norms of a butterfly reversal SOL has a big pending butterfly reversal. Here's the typical things we see if and when there is a butterfly reversal. The first drop is usually consistent until it takes out the low of C. This is a breaking of the uptrend but it will usually setup a bull trap. There will be a parabolic bounce. Some chop. Second parabolic and then reversals typically come around a 76 retracement of the drop. If a follow through leg comes off this, it's typically very strong.
COINBASE:SOLUSDShort
by holeyprofit
1
SOLANA // Neutral within the Daily Bearish CountertrendThe market is in a neutral zone, so there is no use going down in the timeframes. The primary bull trend may continue after the Daily impulse base (brown) is broken on the daily, but the best chances are in the expansion above the clear H4 breakdown (green). In this case, the weekly target fibo 200 is my target. On the short side, it's more risky now, since the market is in the accumulation phase, but below the H4 impulse base (also brown), we have a chance to visit at least the daily zone again (blue dashed). Stay Patient, Stay Disciplined! 🏄🏼‍♂️ Your comments and questions are very much welcomed, not mentioning your boosts! 👊🏼 😀
COINBASE:SOLUSD
by TheMarketFlow
Solana’s Memecoin Hub Faces UK Ban Amid Regulatory ConcernsThe Solana ecosystem has been making waves in the crypto space, not only for its technological advancements but also for its thriving memecoin market. However, recent developments surrounding **Pump Fun**, a prominent Solana-based memecoin launchpad, have sparked regulatory debates. Despite the challenges, Solana’s native token, CRYPTOCAP:SOL , demonstrates resilience in the face of adversity. Pump Fun’s UK Ban: A Regulatory Crackdown Pump Fun, a leading platform for memecoin creation and trading, has abruptly restricted access to users in the United Kingdom. This decision follows a warning from the Financial Conduct Authority (FCA), which accused the platform of operating without proper authorization under UK financial laws. Key highlights of the FCA’s concerns include: - Lack of financial authorization for services provided. - Warnings of potential risks for users engaging with Pump Fun. - A directive to the public to avoid the platform. In compliance, Pump Fun updated its terms of service and barred UK residents, marking the UK as a restricted jurisdiction. The Rise and Controversy of Pump Fun Launched in early 2024, Pump Fun quickly became a hub for Solana’s memecoin enthusiasts. - Trading Dominance: Facilitated over $250 million in token trades, capturing 62% of Solana’s decentralized exchange (DEX) transactionsfi in November. - Popular Tokens: Enabled the creation of tokens like PNUT and WIF, driving memecoin hype. - Challenges: Faced backlash for inadequate content moderation and reports of misuse of its now-disabled livestreaming feature. With its roots in the UK, Pump Fun's founders, operating under pseudonyms, have come under scrutiny. Legal experts warn that its lack of compliance with anti-money laundering regulations could result in further penalties. Solana’s Reaction: CRYPTOCAP:SOL Remains Strong Despite Pump Fun’s legal troubles, CRYPTOCAP:SOL has maintained its footing in the market. - Price Movement: As of this writing, CRYPTOCAP:SOL is trading at 1.74% up, unaffected by the negative sentiment around Pump Fun. - RSI Insights: The Relative Strength Index (RSI) at 53 suggests a balanced momentum, with neither overbought nor oversold conditions. - Bullish Pattern: A bullish engulfing candlestick on the daily chart indicates buyer interest, even in uncertain times. - Support Levels: If selling pressure increases, immediate support lies at the 61.8% Fibonacci retracement level. What’s Next for Solana and Pump Fun? Pump Fun's UK ban could set a precedent for stricter regulation of memecoin platforms, not just in the UK but globally. For CRYPTOCAP:SOL , its resilience underscores the ecosystem's ability to weather localized disruptions. However, the Solana community may need to address reputational risks tied to controversial platforms like Pump Fun. Conclusion While Pump Fun’s UK ban signals the growing scrutiny of crypto platforms, Solana's technical and fundamental strengths continue to shine. As CRYPTOCAP:SOL holds steady, this could present an opportunity for investors to consider its long-term potential amidst temporary market turbulence.
COINBASE:SOLUSDLong
by DEXWireNews
SOLANA NEXT STOP $300Solana has been outperforming ETH for a while now, not only on the charts and for investors but behind the scenes as well. Some simple price action coupled with the certainty retail traders have of SOL indicate a breakthrough of the ATH resistance, not to mention the bullish general market sentiment crypto has at the moment. I would put SOL in the top 3 at the moment with good potential. If we do see confirmation of a breakthrough, there will obviously be some relief and a pull back and likely a retest of that key level which would now be acting as a support. This is where i would expect huge influx of liquidity from retail and commercial investors to further boost SOL on its upwards cycle towards my mid term target of $300 ($308 to be precise).
COINBASE:SOLUSDLong
by h77nry
Solana (SOL) Approaching Key Resistance Levels in Bullish Tren The chart shows a bullish setup for Solana (SOL) against the USD, currently trading at $242.61. The price is moving within an ascending channel, indicating an upward trend, and is approaching a critical resistance level ("Break this level"). A breakout above this level is necessary to continue the upward momentum. The next target is around $250, marked as the "Middle Point," which serves as an intermediate resistance before reaching the next major high above $260. Successful movement through these levels would confirm sustained bullish strength.
BINANCE:SOLUSD
by MuhammadWarsi