SOLUSD Still a long way to goCatch the ride it might cool off soon but I bellieve it will take off again this week will be absolutely bonkers. Due to Trump winning the election the future is looking bright for my paper trading pockets.
SOLUSD.P trade ideas
Solana Surges %10 Percent as Trump Leads in 2024 Election PollsFxNews — Solana rose 10% on Wednesday as Donald Trump led Harris in 2024 election polling. The price surged from $155.1, peaking at $188.2 before easing. Bears briefly pushed SOL below the October 29 high of $183 but couldn’t hold ground.
Currently, SOL/USD trades around $185, with RSI and Stochastic in the overbought zone, suggesting short-term overvaluation. Going long at this level is not advised. A wait for consolidation near the 61.8% Fibonacci level at $175 or the 38.2% level at $167 offers better entry points for bulls.
The uptrend holds as long as SOL trades above the 100-period moving average, with a potential target at the July 29 high of $194.
Support : 183.3 / 175.0 / 167.0
Resistance : 188.2 / 194.0
Is Solana the Next Big Crypto to Watch Out For?
Solana's Resurgence: A Potential Bounce
Solana (SOL), the high-performance blockchain platform, has been making headlines as it exceeds a crucial demand level of approximately $157. This level has acted as a strong support zone, withstanding recent market volatility. As the cryptocurrency market braces for the upcoming U.S. election and the Federal Reserve's interest rate decision, Solana's potential recovery has captured the attention of investors and traders alike.
A Strong Foundation at $157
The $157 level has proven to be Solana's significant psychological and technical support level. It represents a critical juncture where buying pressure has consistently outweighed selling pressure, preventing a deeper decline. This resilience underscores the underlying strength of the Solana network and its community.
Technical Analysis: Signs of a Bullish Reversal
A closer look at Solana's technical indicators reveals several promising signs of a potential bullish reversal:
• Relative Strength Index (RSI): The RSI, a momentum oscillator, has dipped below the oversold level, indicating that the selling pressure has waned. A rebound in the RSI could signal a shift in market sentiment and a potential upward trend.
• Moving Averages: The 50-day and 200-day moving averages have crossed below the price, a bearish signal known as a death cross. However, if the price manages to break above these moving averages, it could trigger a bullish crossover, potentially leading to a significant price increase.
• Volume: Increased trading volume often accompanies significant price movements. A surge in volume during a potential breakout above the $157 level could confirm the bullish momentum and attract more buyers to the market.
The Impact of Macroeconomic Factors
The upcoming U.S. election and the Federal Reserve's interest rate decision are two major events that could significantly impact the cryptocurrency market, including Solana. A highly contested election or a hawkish stance by the Fed could lead to increased market volatility and potential downside risks for cryptocurrencies.
However, if the election results are clear-cut and the Fed adopts a more dovish tone, it could create a favorable environment for risk assets like cryptocurrencies. A potential rate cut or a pause in rate hikes could boost investor sentiment and drive demand for Solana and other cryptocurrencies.
The Future of Solana
Solana's ability to maintain its position above the $157 level and potentially break out to higher levels will depend on several factors, including:
• Network Performance: Solana's network performance, including transaction speed and fees, will continue to be crucial for attracting developers and users.
• Ecosystem Growth: The growth of Solana's ecosystem, including decentralized applications (dApps) and decentralized finance (DeFi) protocols, will drive demand for SOL tokens.
• Institutional Adoption: Increased institutional adoption of Solana could provide significant price support and drive long-term growth.
• Market Sentiment: Overall market sentiment towards cryptocurrencies will also play a role in Solana's price movement.
In conclusion, Solana's position above the $157 support level is a positive sign, and a potential bullish reversal could be on the horizon. However, investors and traders should remain cautious and monitor the impact of macroeconomic factors on the cryptocurrency market. As the U.S. election and the Fed's interest rate decision approach, heightened volatility is expected, and it's essential to have a well-defined trading strategy in place.
Solana: Short term -> breaking out!Solana got rejected at $180 after touching a very important resistance of the past months.
It will probably go to around $172/173 in my opinion, which is both 0.618 fib extension and also a previous support line.
I don't think it will go much higher than that, and that we are in a larger bigger downtrend which has just started. Check out last week candle, both for Solana and Bitcoin, it speaks for itself.
Good luck everyone!
Be patient, don't be greedy.
SOLUSD Cup and Handle What does this mean? Do you think it means what I think it means I think it means something, but we won't know until we see it goes in that general direction until then hold on to your hats, we might just take off full of fuel.
How ever if it does a reversal just be careful and make sure you don't crash and burn tomorrow will be a very decisive day. Election day I mean.
Solana (SOL) Bullish Setup Gaining MomentumTechnical Overview:
Ascending support trendline: Solana (SOL) has maintained a consistent upward trajectory since September, forming higher lows that reinforce the bullish trend.
Resistance Zone: SOL is now testing the critical $180-$190 resistance area, which forms part of a saucer formation, a pattern that often precedes strong upward moves.
Key Levels to Watch:
Resistance: $190 (critical breakout point)
Targets: $220 (previous high), $275-$280 (extended bullish target)
Support: Ascending trendline, below $180.
Outlook:
A break and close above the $190 level could ignite a major rally, with the next significant targets around $220 and potentially $275-$280 if momentum continues.
With the current technical setup favoring bulls, the risk-reward is attractive for those looking to ride the next leg up.
#Solana #SOL #PriceAction #Bullish #CryptoMarket
Solana 215 Long TargetCurrently looking Long to $125
Inverse Head and Shoulders
currently on neckline looking to breakout, but be cautious as it CAN go as low as $130s and still stays valid in between blue lines
Good luck
Outlook on SOL/USD 03/11/2024Pre Election analysis of Solana/USD
Bullish scenario:
If the current level holds as support and the price moves above the recent highs, it may target the upper zone around $188 or higher. Levels around $170-$175, appears to be a near-term top. We could see an extension towards the $188-$200 range, which aligns with both the monthly and daily upper targets. A potential retracement to the $140-$150 daily could offer a discounted entry opportunity, with a possible target back up to the $188-$200 zone.
$222 : Conservative target post-breakout above $200.
$249 : Key resistance, close to previous all-time highs.
$280 : Extended target for bullish continuation.
$345 : Target in a strong rally.
$453 : Long-term, ambitious target if SOL experiences a major bull run.
Bearish scenario:
If the price fails to hold above the trendline and begins breaking below $140, it could indicate a shift towards a bearish scenario. This could open the possibility for a retracement to deeper discount levels, potentially back to $118 or lower. If the price struggles to break above the $170-$175 zone and shows bearish reversals, it could trigger a deeper correction to retest the $140-$150 level or even the key $118 monthly support zone. Worst case scenario $98-$106.
Solana Technical AnalysisFxNews —Solana is trading bearishly below the 100-period SMA, with immediate resistance at $168.50.
The SOL/USD trend outlook will remain bearish as long as bears hold positions below $168.50. In this scenario, the next bearish targets would be $158.00, followed by $152.00.
Please note that a close above the immediate resistance would invalidate the bearish scenario.
SOLUSD Gives a Buy-The-Dip-OpportunityThe current correction in SOLUSD is attracting buying interest. The indicator shows divergences in both the RSI and the CumulativeVolumeDelta. This opportunity offers a good short-term chance for a long entry. We select the area of the bearish wicks between USD 167 and 168 as the target zone.
Solana to $750 - BUY & HODLSolana will not go bust, it's too big for that.
SOL ( SOLUSDT , SOLUSD , SOLBUSD ) has great value behind it.
The project is amazing, and it's on SALE!
So, I am holding and adding even more @ $5 .
Yeah... when people are panicking, I buy. :))))
My Technicals:
* Elliott Wave A-B-C Pattern
* Double Bottom
* Demand Zone
* Double Bottom
* Fibonacci Retracements
The Fibonacci Time Zones point me to a Bull Market Cycle starting with '23.
Good luck getting rich! :D
SOLANA - Sell Ideathe quick turn around and the drop below the key-level support of $171.15 is a strong indication that price action is on the backfoot again, moving towards the lower section of the trading range it's been trading in for a while now. Next big support is at $138.50, our official profit target
SOLUSD SELL ANALYSIS RISING WEDGE PATTERN Here on Solusd price form rising wedge pattern and now try to fall as the line 167.98 has broken there is a chance of moving down more so trader should look for SHORT and target profit of 154.53 and 138.83 . Use money management
$solana long $solana currently on support , with btc reclaiming 70k support sets a good precident to look for longs . set clearly shown in chart
SOLUSD !!Solana trimmed gains and traded below the $175 support zone. SOL price is now approaching the $165 support and might bounce back in the near term.
SOL price started a fresh decline after it struggled near the $185 zone against the US Dollar.
The price is now trading below $172 and the 100-hourly simple moving average.
There is a key bearish trend line forming with resistance at $172 on the hourly chart of the SOL/USD pair (data source from Kraken).
The pair could start a decent upward movement if it stays above the $165 and $162 support levels.
SOLUSD, MOMENTUM BULLISH TREND CHANNELSOLANA, MOMENTUM BULLISH TREND CHANNEL
Time Frame: 4 HR
Price Target: $369
Time Horizon: lol
$SOL Long Set upsIf We Get A Move Down
50% retrace of this up move wouldn't surprised me. Week before the election might give us a good discount to add a spot/perp longs to.
The Plan
Try not to freeze in time and wait for a perfect set up to happen. Most times the set up isn't perfect, most cases all you see is panic and fear when that dip actually comes. You also might think it'll go lower. Execute your plan and stay to it. MY plan is to bid the retest of the range we broke out of. (6-7month range). Have a stop loss to the previous low. It's a bull market. SHORTING will get blown out. Think Higher.
Happy Trading & Good Luck.
SOLUSD UPDATEI am reposting because there has been a huge move downward will wait for a second candlestick before I make a move. I want to see a second candle stick in going down and then I'll maybe make a play. But so far, I like what I see.
i am short solana, not sure how long i'll hold it but want trackas the title says i am shorting the soylana probably a dumbass idea but ive entered now so there's no going back
Solayer Labs Launches $sUSD: A Game-Changer for DeFi on SolanaSolayer Labs has announced the launch of LSE:SUSD , a yield-bearing, real-world asset-backed synthetic stablecoin on the Solana blockchain. This innovative protocol marks a significant milestone in the DeFi space, particularly for Solana, which has recently shown bullish momentum.
Unveiling the LSE:SUSD Protocol
The LSE:SUSD protocol, co-designed with OpenEden, allows users to earn yields on CRYPTOCAP:USDC deposits, thereby democratizing access to stable, low-risk financial assets. The unique feature of LSE:SUSD is its self-rebasing mechanism, which reflects interest earned directly in users' balances without requiring staking. This design ensures that users see their balance grow automatically, with current yields estimated at an attractive 4.33% annually, based on US Treasury yields.
The launch of LSE:SUSD is particularly noteworthy as it was introduced following Solayer Labs’ achievement of surpassing **$200 million** in total value locked (TVL) in Q3. This indicates robust user interest and a solid foundation for future growth.
Technical Aspects of LSE:SUSD
From a technical standpoint, LSE:SUSD is built on Solana’s Token-2022 standard with an extension for interest-bearing tokens. Unlike traditional stablecoins, users are not required to stake their assets to earn yields, which significantly simplifies the user experience. The yield is automatically reflected in the users’ balances, making it more accessible to a broader audience.
The protocol operates as a non-custodial Request-For-Quote (RFQ) marketplace, allowing only owners to create or destroy $sUSD. This system facilitates seamless transactions across various qualified real-world asset (RWA) tokenizers, providing a secure and efficient minting process.
Technical Outlook for SOL
As of the latest trading data, CRYPTOCAP:SOL is up 2.8%, with a bullish RSI of 68, indicating it is approaching overbought territory. Nevertheless, the pivot point is set at $200, presenting an opportunity for strategic buyers. Notably, Solana has recently surpassed Ethereum in trading fees, showcasing its growing dominance and potential as a leading blockchain for DeFi applications.
A Bright Future for DeFi on Solana
The launch of LSE:SUSD is not just another stablecoin; it represents a significant shift towards integrating real-world assets into the DeFi ecosystem. By offering users a chance to earn yields on CRYPTOCAP:USDC deposits while also providing a low-risk financial asset, Solayer Labs is paving the way for broader adoption of DeFi solutions.
Additionally, the launch includes various incentive programs, such as a 10x yield boost on the first $10,000 deposits during the initial minting phase, starting October 30th. This strategy aims to attract early adopters and boost liquidity in the LSE:SUSD market.
Conclusion
The introduction of LSE:SUSD by Solayer Labs is a testament to the growing synergy between DeFi and traditional finance. As the DeFi landscape continues to evolve, LSE:SUSD stands out as a compelling option for users looking to explore yield-bearing assets in a secure and user-friendly manner. With the expectation of further developments and potential airdrops, Solayer Labs is well-positioned to lead the charge in DeFi innovation on Solana.
SOLUSD A lesson learned.Although yes, I know I am being negative with this play with the Bitcoin Bullrun going on but hear me out. Doge took off two days ago and is still rising my only issue is that I sold to early, but I am happy that I took my winnings when I did. Anyway, this can go either way I am fully aware of Solana ability to perform well. But I have seen Solana perform terribly as well it we can also.
Before I got heavily involved in the markets the way that I am now I see prices rise and fall many times and I was always mad when I see it go high and I didn't put something sooner, and I always seen prices drop really low, and I was happy I never put anything in. So far, I have had really good plays since sticking to my plan of looking at what the Trend lines are telling me and waiting for a breakout and entry.
I recently made a play not sticking to my plan with SUIUSD and it cost me a pretty penny I just did it just because I thought I had it figured out. But I am going to stick to my plan of watching trends line and trying to catch the breakout that is what is helping me win. As long as I can remember that I will be fine.
So, my plan for here is to see what's happening because I am seeing a descending triangle with the trend lines, and I am also seeing a cup and handle so ill wait
Solana vs. Ethereum: The Battle for Blockchain SupremacyThe cryptocurrency market is dynamic, constantly evolving with new technologies and innovative projects. Solana (SOL) and Ethereum (ETH) are two of the most prominent players in this space. Both platforms have made significant strides in recent years, attracting developers and investors alike. However, as the cryptocurrency market continues to mature, the question arises: Will Solana be able to challenge Ethereum's dominance, or will ETH maintain its position as the leading blockchain platform?
Solana's Rise to Prominence
Solana, a high-performance blockchain platform, has gained significant traction due to its ability to process many transactions per second at a low cost. This scalability advantage has made it attractive to developers seeking to build decentralized applications (dApps) that require fast and efficient transaction processing. Solana's unique Proof-of-History (PoH) consensus mechanism, combined with its parallel processing capabilities, enables it to achieve impressive transaction speeds.
One of the key factors driving Solana's popularity is its vibrant ecosystem. A growing number of dApps, including decentralized exchanges (DEXs), non-fungible token (NFT) marketplaces, and DeFi protocols, are being built on the Solana platform. This expanding ecosystem has led to increased demand for the SOL token, which is used to pay transaction fees and secure the network.
Ethereum's Enduring Dominance
Despite the emergence of strong competitors like Solana, Ethereum remains the undisputed leader in the blockchain space. Its long-standing history, extensive developer community, and robust security infrastructure have solidified its position as the go-to platform for many dApps. Ethereum's transition to a proof-of-stake (PoS) consensus mechanism, known as The Merge, has further enhanced its scalability and energy efficiency.
Moreover, Ethereum's dominance in the DeFi and NFT markets is undeniable. A vast array of DeFi protocols, including lending platforms, decentralized exchanges, and yield farming platforms, are built on Ethereum. The platform's popularity in the NFT space is evident from the success of projects like CryptoPunks and Bored Ape Yacht Club.
The Battle for Market Share
As the cryptocurrency market enters a period of increased volatility and potential altcoin season, the competition between Solana and Ethereum is likely to intensify. Solana's scalability advantages and growing ecosystem could attract more developers and investors, leading to increased demand for the SOL token. However, Ethereum's established position, strong developer community, and ongoing technological advancements may enable it to maintain its dominance.
The outcome of this battle will depend on several factors, including:
• Network Performance: Both platforms will need to continue to improve their network performance and scalability to meet the growing demand for decentralized applications.
• Developer Adoption: Attracting and retaining top developers will be crucial for both platforms.
• Security: Ensuring the security of the network and protecting users' funds is paramount.
• Regulatory Environment: The regulatory landscape for cryptocurrencies could significantly impact the adoption and growth of both platforms.
Conclusion
While Solana has emerged as a strong contender in the blockchain space, Ethereum's established position and ongoing development efforts make it difficult to displace. The future of the cryptocurrency market is uncertain, and both platforms will need to adapt to evolving technologies and changing market dynamics. Ultimately, the success of Solana and Ethereum will depend on their ability to deliver value to users and developers.
