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SOL Perpetual Futures Contract

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SOLUSD.P trade ideas

SOLANA Primed for Approaching weekly Double Since 12/31/2022 Solana has followed erratically a trendline oscillating between extremes on one side of the other of that trendline. 1/3's the time on the high side of it and about 1/3 to the low side of that trendline. This week, it broke through the key barrier, the term "Double top," on the daily chart, but there is one last Double top on the weekly chart to push through. It's an all-time high. The vertical timeline shows this possibility happening around 12/31/2024 in approximately six weeks. Should Solana press through the all-time high. Fibonacci channels suggest it's not likely to stop until around $344 by March 15th, 2025 and likely climb as high as $480 by May 30 2025. Considering the Presidential euphoria in the markets. It makes sense these timelines could be cut in half on pure Hype and Euphoric FOMO
COINBASE:SOLUSDLong
by AGuyUs
SOL/USD Weekly Chart AnalysisThe SOL/USD weekly chart highlights strong bullish momentum as Solana reaches a pivotal resistance zone around its previous all-time high. While price action remains within an ascending channel, the RSI indicates overbought conditions on both daily and weekly timeframes. This suggests a critical juncture where Solana could either pull back for a healthy correction or break out if the resistance flips into support. Key Observations: 1. Ascending Channel Formation: • SOL remains confined within a well-defined ascending channel, with higher highs and higher lows indicating a long-term uptrend. • Current price action is nearing the upper boundary of the channel, where previous resistance levels may play a crucial role in dictating the next move. 2. Relative Strength Index (RSI): • RSI on the weekly timeframe has entered overbought territory (>70), reflecting strong momentum but also cautioning traders of a potential pullback. • Historically, overbought RSI conditions have coincided with local tops before corrections, warranting close monitoring for signs of weakness. 3. Key Resistance and Support Levels: • Resistance: SOL is challenging its previous all-time high near $240 - $250. This level could act as a major inflection point; a successful flip to support may signal the continuation of the uptrend. • Support: Immediate support lies at $200, with stronger levels around $160 and $130. A breakdown below these zones could jeopardize the bullish structure. 4. Volume and Momentum: • Volume has increased during upward moves, supporting the ongoing bullish trend. However, divergence between price and volume near overbought conditions could signal exhaustion. Possible Scenarios: • Bullish Case: If SOL can decisively break above the $240 - $250 resistance zone and establish support, the price could rally toward $300 or even test the upper boundary of the ascending channel around $320. • Bearish Case: Failure to break resistance or rejection at current levels may lead to a pullback toward $200 or lower. If momentum weakens, price could test $160 or the channel’s lower boundary near $130. Conclusion: SOL/USD is at a critical juncture as it approaches its previous all-time high. Overbought RSI levels suggest caution, but the potential for a breakout remains if resistance flips into support. Monitoring price action at $240 - $250 and the RSI’s response to these levels will be key to identifying the next significant move. Disclaimer: This is not financial advice. Please conduct your own analysis and consider your risk tolerance before making any trades.
BINANCE:SOLUSD
by ImmortalEmerson
Solana - We Will See A New All Time High!Solana ( CRYPTO:SOLUSD ) is preparing for an all time high breakout: Click chart above to see the detailed analysis👆🏻 After dropping -95% in 2022, Solana then rallied an incredible +2.000% and retested the previous all time high. Then we saw a quite long term but tight consolidation and just two months ago, Solana retested the lower support again. It is just a matter of time until we will see a breakout. Levels to watch: $120, $210 Keep your long term vision, Philip (BasicTrading)
CRYPTO:SOLUSDLong
by basictradingtv
10
SOL/USD Weekly Chart Analysis weekly chart highlights strong bullish momentum as Solana reaches a pivotal resistance zone around its previous all-time high. While price action remains within an ascending channel, the RSI indicates overbought conditions on both daily and weekly timeframes. This suggests a critical juncture where Solana could either pull back for a healthy correction or break out if the resistance flips into support. Key Observations: 1. Ascending Channel Formation: • SOL remains confined within a well-defined ascending channel, with higher highs and higher lows indicating a long-term uptrend. • Current price action is nearing the upper boundary of the channel, where previous resistance levels may play a crucial role in dictating the next move. 2. Relative Strength Index (RSI): • RSI on the weekly timeframe has entered overbought territory (>70), reflecting strong momentum but also cautioning traders of a potential pullback. • Historically, overbought RSI conditions have coincided with local tops before corrections, warranting close monitoring for signs of weakness. 3. Key Resistance and Support Levels: • Resistance: SOL is challenging its previous all-time high near $240 - $250. This level could act as a major inflection point; a successful flip to support may signal the continuation of the uptrend. • Support: Immediate support lies at $200, with stronger levels around $160 and $130. A breakdown below these zones could jeopardize the bullish structure. 4. Volume and Momentum: • Volume has increased during upward moves, supporting the ongoing bullish trend. However, divergence between price and volume near overbought conditions could signal exhaustion. Possible Scenarios: • Bullish Case: If SOL can decisively break above the $240 - $250 resistance zone and establish support, the price could rally toward $300 or even test the upper boundary of the ascending channel around $320. • Bearish Case: Failure to break resistance or rejection at current levels may lead to a pullback toward $200 or lower. If momentum weakens, price could test $160 or the channel’s lower boundary near $130. Conclusion: SOL/USD is at a critical juncture as it approaches its previous all-time high. Overbought RSI levels suggest caution, but the potential for a breakout remains if resistance flips into support. Monitoring price action at $240 - $250 and the RSI’s response to these levels will be key to identifying the next significant move. Disclaimer: This is not financial advice. Please conduct your own analysis and consider your risk tolerance before making any trades.
BINANCE:SOLUSD
by ImmortalEmerson
Solana (SOL)Solana needs no introduction as this coin has already proven to be on many people's popular lists. Besides its high-volume trading and great features, its technical analysis is also interesting. After Solana's upward wave finished, a corrective wave, a long one, started. Now, it seems the corrective wave has ended at 0.5 Fibonacci retracement. Also, the correction is unfolding in an inverted wedge pattern. We have to wait for the price to break this pattern upward. Let's see what happens.
BINANCE:SOLUSD
by SaeedSalehinia
13
SOL UPDATESolana (SOL) is a high-performance blockchain designed for decentralized applications (dApps) and crypto projects. It features fast transaction speeds, low costs, and high scalability, thanks to its unique consensus mechanism called Proof of History (PoH), combined with Proof of Stake (PoS). Solana Coin (SOL): This is the native cryptocurrency of the Solana network. It’s primarily used for staking, transaction fees, and participating in governance within the ecosystem. NEXT UPDATE
BINANCE:SOLUSDLong
by VASANT_MVK
1
Solana’s Bullish Surge: $220 High Signals Potential for New ATH Solana’s ( CRYPTOCAP:SOL ) recent performance has been explosive, breaking past $220 for the first time this year and setting the stage for potentially higher targets. Driving this bullish momentum is a unique blend of technical and fundamental factors, particularly the growing appeal of meme coins on the Solana network and robust market sentiment. Pump Fun’s Significant Sell-Off Meme coin launchpad Pump Fun has offloaded 43,000 SOL tokens (valued at $9.46 million) as the price hit $220, adding to its cumulative 793,243 SOL sold. Despite this, Pump Fun still retains 220,865 SOL, indicating that this liquidity event may be strategic rather than indicative of bearish sentiment. Meme Coin Frenzy Boosts Solana Ecosystem The recent meme coin craze on Solana, with tokens like ACT and PNUT surging 1,300% and 250% respectively, has bolstered SOL’s appeal. This trend has even driven Solana’s DEX trading volume above Ethereum’s for the sixth consecutive week. With $160 million bridged into the ecosystem in the past week alone, this influx of capital underscores the growing interest in Solana-based DeFi and meme coin trading. DeFiLlama data shows that Solana’s DEX volume hit $17.484 billion, surpassing Ethereum’s $14.97 billion. Technical Analysis Technically, Solana’s breakout above the $210 resistance, now turned support, is significant. The token is trading within a breakout channel and is up by 5.54% in the last 24 hours. This breakout has set sights on the $235.5 resistance level, followed by its previous ATH of $260.06. Altcoin Sherpa, a well-regarded analyst, even predicts that a breach of this ATH could push SOL towards $290, with speculative targets as high as $1,000 within the current market cycle. If SOL maintains support around $210 and the $199–$195 range, this area could act as a launchpad for continued upward movement. However, if buyers fail to hold this level, SOL may see a correction toward $183–$172 before another rally. Market Sentiment and Broader Crypto Landscape The bullish momentum for SOL is part of a larger upward trend across the crypto market, with SOL benefiting from both the favorable macro environment and its distinct ecosystem growth. The meme coin popularity on Solana, coupled with strong DEX volumes and increasing DeFi activity, adds to the long-term potential of the network as a primary hub for high-volume, user-driven activity. Conclusion Solana’s rise to $220 represents not only a technical milestone but also a testament to the network’s expanding ecosystem, especially within the meme coin and DeFi sectors. With strong support from both fundamental and technical indicators, SOL’s trajectory suggests that reaching its ATH of $260 is feasible, with even higher targets on the horizon. As SOL continues to capitalize on its position within a bullish crypto landscape, market participants should keep an eye on key support and resistance levels, potential corrections, and the broader sentiment driven by meme coin activity.
COINBASE:SOLUSDLong
by DEXWireNews