Continuation of Uptrend.CRYPTOCAP:SOL likely to begin the next leg up.
As we can see, It formed a falling wedge pattern which is bullish.
SOLUSD.P trade ideas
SOL - LongI'm long SOL from 142 to 158 over the next few weeks. MACD volume is still slightly bearish and fear and greed is heading back to Neutral. I expect this trade to take a week or two, and it might go higher.
Falling Wedge PatternExpect Solana, along with broader Crypto Market, to continue the uptrend after the ongoing correction.
The market recovered from the collapse & made a reversal, the market entered a correction phase shortly after.
Alot of coins have formed bullish continuation patterns. For example: Solana is forming a falling wedge pattern.
$Sol Macro chart ( My play )🔨 Key Resistance: $70-120
📍 Buy Zone: $13-25
🎯 Target 1 - $48
🎯 Target 2 - $77
🎯 Target 3 - $116
🎯 Target 4 - $138
🎯 Target 5 - $200
🎯 Target 6 - $260$
🎯 Final target - 400$
I believe SOL will break ATH, patient is the key
Solana Not DeadI am still long Solana and various Solana related memes.
1. Crypto is absolutely insane. You have to be sized accordingly, just like everything else in trading/investing (ballz f*cking deep). I am watching the current intermediate downtrend for a break to the upside and another test of the upper high to high trendline. I think it breaks that in the coming weeks as Solana pushes to new highs. That is unless Solana meme trading degens keep getting farmed and rugged for all their worth.
2. People talk about Solana flipping Ethereum. I think it's possible, but I think Ethereum will move down more and Solana up as gas fees between the chains find an equilibrium. if the ETH holders fight it, they will lose much more than they think possible.
3. Overall, I am bullish on crypto going into another bubble/meme gambling super-cycle fueled by cross-platform bridging between chains. Multichain interoperability. We are seeing it clearly already and I think it will get crazier at some point.
4. As a reformed Crypto cynic/hater, I came to love crypto for how BTC was used to repatriate USD from the Russian Stock Exchange outside of the SWIFT system after Russian sanctions. I don't care if the CIA created Bitcoin and it is tracked completely. I am still bullish BTC for its legacy importance, high value, and transferability.
Solana: Reconsideration?According to our primary expectation, Solana should now sell off even more strongly and head for our blue Target Zone ($109 – $51.20), where we expect the low of the same-colored wave (ii). Traders could open long positions within this range, placing stops about 1% below the lower edge. With the low in place, a move back above the resistance at $210.03 is on the cards. However, with the price narrowly missing the Zone in the past, we must also consider the option that the low has already been established. This scenario (37% likely) will come into play on a break of resistance at $210.03.
SOL Ascending Wedge / Weekly Chart As you can see, the Solana price has been forming an ascending wedge formation since May 2022. This is a really long-term ascending wedge that has been going on for over two years. So it seems likely that it will continue to work.
What Awaits Us?
When we look carefully at the weekly candle contacts, we can say that the candle contacts in the lower and upper regions of the formation are successful. In the last 5 months, the upper region of the formation continues to work as resistance and there are 2 clear retest contacts after the $210 region. After the second retest contact, the price gave a voluminous red candle and then gave a doji candle.
With these, the probability of advancing to the lower region of the formation in the coming period seems higher for now. The lower region shows the range of $67 - $72.
INVERSE getting filled at 82% ($31.88)The public idea shows inverse measurement at 230% at $481.23; the future target. Here, I show inverse filled at 82% $31.88 so this way you can visualize what to expect in the coming prices at 230% but for now, the price target is $201.
SOLANA Price Target $201.65 confirmed by whales Blue wave bull plotter has reached Solana's blue body candle top wick which means BULL will activate when it's ready.
Smart Money has rejected prices of $23.82, $63.94, and $88.84. They decided to move up their trend to $201.65
My Smart Money OBV red trend wave shows a history breakout and has made the breakout as of now by crossing OBV MA and confirmed by BULL price prediction to $201.
View my white arrows which point out to MA guidance and candlesticks have respected its boundary
SOLANA reads INVERSE at 230%. I did a price range measurement which reads the price to reach $481.23 in the near future.
Solana Price Action After Doji on Weekly ViewThere is a doji again in the same price range. First one formed in the last cycle at the beginning of bear season. Second one formed last week months after horizontal accumulation. Big red weekly candle occured after doji in the first one. Now, there's possibility to see similar thing.
Cup and Handle on the 1W Hi Folks, it's been a while since my last post, but I've been lurking in the background watching the bear market of crypto and riding it out while waiting for the BTC halving to come in.
Well, today, and after the flash crash, I'm writing to share, what many may have already seen, which is the Cup and Handle formation occurring on the 1W SOL chart.
Speculatively, a breakout could be coming as the handle slowly comes to a close, although due to the nature of our current global climate, anything is possible; but should this cup and handle complete it's formation, the upside could be quite exciting.
Stay safe, DYOR and happy trading
SOL Current Downtrend Channel Placed Itself Just Above Last HighThe red downtrend channel has formed above the process continuing from the $194 high area. The price has been using this channel since it rose from the $110 area.
However, in the last 2 days, the price has reached the upper area of the channel again and if it is rejected as before, it will accelerate the downward momentum by following the blue channel below and move to the $115 area.
But if it breaks the area it is currently stuck in, it will follow the green arc and move to the $180 area. In both cases, the breakout seems very close.
SOL Current Downtrend Channel Placed Itself Just Above Last HighThe red downtrend channel has formed above the process continuing from the $194 high area. The price has been using this channel since it rose from the $110 area.
However, in the last 2 days, the price has reached the upper area of the channel again and if it is rejected as before, it will accelerate the downward momentum by following the blue channel below and move to the $115 area.
But if it breaks the area it is currently stuck in, it will follow the green arc and move to the $180 area. In both cases, the breakout seems very close.
Long trade
Fri 9th Aug 24
Buyside trade
NY Session
18:22 PM (NY Time)
Buyside trade
Entry: 153.24
Profit level: 178.33 (16.37%)
Stop level: 153.01 (0.15%)
RR: 109.9
SOLANA (Crypto SOL-USD) SELL TF D1 TP = 45.45On the D1 chart the trend started on April 04 (linear regression channel).
There is a high probability of profit taking. Possible take profit level is 45.45
Using a trailing stop is also a good idea!
Please leave your feedback, your opinion. I am very interested in it. Thank you!
Good luck!
Regards, WeBelievelnTrading
SOL 65-80 before ATH's Watch the video Hidden bear divergencenot financial advice
I made a video here of possible moves that can happen moving forward and hopefully it is an insightful way for you guys to see the bigger picture of whats going on and where we may be headed
SOL - LEVELS TO WATCH Disclaimer: This is not financial advice. Most traders lose money. Trading in digital assets, including cryptocurrencies, is especially risky and is only for individuals with a high-risk tolerance and the financial ability to sustain losses.
Solana 100 w / 200 w golden crossover imminent?solana / usd binance, 1 W , auto log scale
Last weekends panic dump found support on the 50W SMA.
There is a 100 W / 200 W golden cross incoming in the next two weeks.
We are reaching the end of the bull pennant that began forming in feb/ march. Although, there are new highs and new lows that could arguably redraw this pennant into a flag. If its a flag and not a pennant we could go sideways for longer in the flag formation. I personally think that more sideways movement is better, coiling the spring and (if it breaks upwards) a larger and longer bull market.
But if it is a pennant, and combining with the potential golden cross it seems like that's a meaningful coincidence likely to breakout upwards. I say upwards because the trend is your friend.
Also, the same 100 w / 200 w crossover is happening on bitcoin, at pretty much the same intersect.
SOLUSD SHORTIf price can break and retest 153.00 I'm looking to target 125.00
- Weekly is bullish, daily is bearish
- daily made potential LH at 618 retracement at 162.00
- 4hr still bullish but made a lower High
- waiting for break and retest of 4hr support and 50 ema
- In confluence with my BTC short bias.
Bullish Long Term Setup For SOLUSDThis is a longer-term long setup for Solana: it is based on a hidden bullish divergence in the OBV.
We have chosen the D2 timeframe so that the trade should unfold within around two to eight weeks.
The setup does not contradict our bearish analysis for BTC, which is based on the H3 timeframe.
Accordingly, Solana could also initially fall back to around USD 150 or below and then rise.
my suggestion on SOLUSDTsolana is going down to 125 dollar ,a very strong support for new buyers. lets see how it plays.
SOLana crip crab walkin' down to ~130Bitcoin is overextended, Solana is too. Only thing is: alts/memes are still doing pretty good on the network. This could explain why 130 is the current floor for Solana while Bitcoin crabs down. Or it could indicate a higher prob of a resistance breakout for Solana. Im going to short it anyway.
