Bull Trap. The cheese must be good. $90 - $75 TP.NFA. DYOR.
We are in a distribution phase. TP and buy zone set out $90 to $75.
SOLUSD trade ideas
SOL AnalysisHello Traders!
I've been analyzing the market today and I decided to open this trade.
It is a bit risky but the risk to reward ratio is big. I'm expecting this move to be a bear trap. I might be wrong as this is like trying to catch a falling knife (which almost never works as expected). I am just trying some new things and my experience allows me to try this from time to time. I'll keep you updated. I do not recommend taking this trade, but I want to show you that I am fully transparent and I will show you all of my trades. No matter losing or winning. Stay safe, do not risk more than 3% of your portfolio and keep earning! :)
$SOL is about to enter orbitCOINBASE:SOLUSD has established a strong rebound from a massively oversold RSI basis (4h)-- the trend shows that there is massively bullish potential if/when it does break out
Tug of war ahead!Short term bearish momentum but as long as ETH bounces off trendline support we'll see more upside.
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.
$80 is a magnet for SOL....Excuse the overload of channels here, but I find them helpful when evaluating the potential bottoms of bigger moves. Here we see downward and upward channels supporting SOL. But even so it looks weak, and historically ends in a move lower.
With that said, we need to break supports, which will happen in a gentle move through it, following by acceptance a big sell off. OR a move higher to trap longs, followed by an aggressive move down.
Either way, I am expecting a move lower, and use channels to help guide my bids. I expect the move to be violent enough to take out the entire channel, and find support at the mid line of a new channel below. This strategy has proven very helpful for me in the past.
With the confluence of the midline of this new channel and horizontal support, I expect a big bounce around $80.
Good luck.
SOL AnalysisI'm expecting a continuation of the downward movement. I'm aiming for the recent swing low for around 2%. After that we might see a bounce.
Stay safe and cautious. Do not risk more than 3% of your portfolio for this trade.
Potential bearish drop?SOL/USD is reacting off a resistance level which is a pullback resistance that lines up with the 38.2% Fibonacci retracement and could fall to our take profit.
Entry: 161.79
Why we like it:
There is a pullback resistance level which lines up with the 38.2% Fibonacci retracement.
Stop loss: 169.58
Why we like it:
There is an overlap resistance level which lines up with the 78.6% Fibonacci retracement.
Take profit: 153.90
Why we like it:
There is a pullback support level.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
$SOL price analysis #sol #solana price has broken down the trend line and had bearish retest, then failed to reclaim the trend line zone. #solusd may have test the trend line resistance (formerly support zone). If hard declines occur, daily ichimoku cloud bottom is the support zone. Also this ~144 #usd zone is the historical support zone. Not financial advice.
SOLSol Analysis:
Holding trend well,
Fib retest and strength
Provided market conditions remain favourable overall looking to target full extension.
Sol SpeculationSol currently at 2 major supports
Could we see a rally up after the shakeout that just happened?
Regardless of the big drop the general sentiment is bullish. We will see if the bulls can keep the buys flowing through.
Is SOL following the 2020 ETH fractal? SOLUSDSolana, SO FAR, has been following in the same path as ETH 2020-21. This DOESN NOT mean it will continue. It will likely deviate in it's own way but so far, it's very similar. $700 - $1000 is not too entirely off the table. $777 is my personal target. NFA. I will keep this updated as we go and will show when or if we invalidate this altogether. No panic either way. Please keep going SOL:)
SOL AnalysisSOL got rejected from the topside of the diagonal movement. I'm expecting a retracement before continuing up. I'm taking this trade. My Target is the recent liquidity.
SOLANA WHAT NOW??We have been following the trend of Solana for some time now.
We are now seeing buyers trying to push prices higher this is after market made a high around 209.90 .
After which the market moved lower to make a retest at a crucial low around 159.20 - 167.70 .
Now that we are seeing some signs of the buyers coming back, I will be looking to see if we can get a break and close above 191.80 . for possibility of another push higher towards the previous high 209.90 .
I still maintain interest of possibly seeing price move towards the ATH 260 level.
I keep an eye out as price can push lower towards support range 1 59.20 - 167.70 .
SOLUSD: Snapping Back to $210 | 70.70% Probability!BINANCE:SOLUSD has been drawing a lot of attention in the crypto space in the past few days due to its integration with NASDAQ:PYPL
Let's have a technical analysis breakdown:
BINANCE:SOLUSD According to my Free Probability Indicator , There's a 70.00% chance it could climb back over $210 and beyond, which is pretty much encouraging!
If you're thinking about trading LINK, here's what you should consider:
Entry:
Wait for clear signs that the price is going up again.
Once you're confident the trend is changing, consider buying LINK.
I'm currently looking at the 8H Equilibrium to get positioned.
Exit:
To protect yourself from drawdowns, consider setting a "trailing stop-loss." This will automatically trigger a sell order if the price starts dropping again after you buy, securing your running profits.
Risk Management:
Ensure you're not risking more money than you can afford to lose.
Only invest what you're comfortable with and consider how much you're willing to lose if things don't go as planned.
This isn't financial advice, just some insights to help you make informed decisions. Always do your own research before investing in anything.
Could price reverse from here?SOL/USD is rising towards a resistance level which is an overlap resistance that lines up with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 175.23
Why we like it:
There is an overlap resistance level which lines up with the 50% Fibonacci retracement.
Stop loss: 188.78
Why we like it:
There is a pullback resistance level.
Take profit: 158.28
Why we like it:
There is a pullback support level which lines up with the 61.8% Fibonacci retracement.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
$SOL good RR LongCRYPTOCAP:SOL has great potential in coming week. a good entry for a weekly swing game. coming week will be a green week for crypto followed by a panic sell off next coming weeks.
Play correctly and dont miss the run.
PORTFOLIO ALLOCATION FOR TRADE
10%
25x leverage
Solana's Magic Eden NFT Volumes Top Bitcoin and EthereumSolana's Magic Eden, a non-fungible token (NFT) marketplace, has seen a surge in trading volumes, dominating the Solana ( CRYPTOCAP:SOL ), Ethereum, and Bitcoin networks. This surge comes as total NFT volumes have dropped in the last 30 days. The platform has surpassed NFT marketplace Blur on Ethereum, with its market share increasing to 41.39%. On Solana ( CRYPTOCAP:SOL ), Magic Eden maintains its lead with 75.79%, with assets worth over 17K SOL. Recent market activity has boosted its lead, with Tensor and Sniper coming up next with 19.38% and 2.40%, while Hyperspace and Hadeswap rank next with 1.21% and 0.98%, respectively. On-chain data from Tiexo points to a rally in Solana volumes, with volumes 18% to 22.7 SOL, approximately $3.81 million.
Magic Eden dominated NFT volumes in the Bitcoin ecosystem, posting 55.07% of the market share. In December, Solana ( CRYPTOCAP:SOL ) topped Ethereum in NFT volumes as users purchased projects based on the platform. However, recent data from CryptoSlam shows a drop in overall volumes, with volumes plummeting 54% to $624 million from last month's over $1 billion volume. Bitcoin NFT sales plummeted 68%, while Ethereum and Solana experienced a 55% and 48% drop, respectively.
SOLUSD Tight Risk Buy PointWorking up the right side of a quality base, digesting the 1,100% run from September 2023 thru March 2024. High volume flush in April that was quickly bought up, shakeout in early-May, reclaim of important VWAPs, volume declining as it works its way up the right side.
Now with the current volatility contraction, it setups up a potential early buy point within the base over 175 on a thrust in volume. The most aggressive stop placement would be just under the 163.50 low from 5/30. I will personally give it room to fluctuate until a decisive break below my cost basis around 150-ish.
May Closing BullishAfter starting May at 117 SOL began to claw back up and actually led BTC and ETH for sometime hitting 133 mid month. But then it made a new support area at 166-67 which is where we are back to today after some nice pumps. You know how it goes here we have to break through the 200 to 10 area for continuation. Otherwise we may be coming down like a popped like a balloon in June!
