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SOLUSD trade ideas

What should we do with $SOLCRYPTOCAP:SOL has now completely completed its correction after possibly 3x an upward wave. Together with the correction and bull flag resistance was found on the demand zone. I also expect a definitive breakout for the bull flag and a retest from this. After this, we may be ready for an attack on a new ATH. Although Bitcoin may make a small correction, I don't think CRYPTOCAP:SOL will really respond to this. Always be careful with your trade. Be kind to the world and each other.
BINANCE:SOLUSDLong
by RidgerR
10
SOLANA TO DUMP?Just a quick & simple update for SOL. I have a few of my entry criteria being met for a trend change short opportunity on Solana. On the daily time frame you can clearly see the crossover of the SMA's (1) The market has pulled back to retest the crossover price area which also lines up with the %61.8 fib retracement level which is additional confirmation for me the trend is changing, coupled with continuous LH's & LL's. I would look to target the $180 price for a target which also lines up with the %61.8 target projected by the Fib. Lets see how it plays out around the current level, if BTC continues to consolidate and looks bearish and all the resistance levels continue to reject on SOL then i'll look for entry on this providing there is confluence on entry criteria. Potential 30% to be made, all eyes on XRP, SOL & BTC for the moment. Don't forget how BTC pans out will have a lot to do with all the Alts, so if BTC pumps it'll void this trade idea as SOL is highly correlated.
COINBASE:SOLUSDShort
by h77nry
1
Solana Best DCA LevelsAs an investor who likes to act with the DCA strategy, I have compiled the best buy zones for you by determining the support and resistance points for Solana on a weekly basis. I will explain why I named these buy zones in this way. $260 - $202.29 (Not Preferable): Since this level is the psychological resistance level where the previous ATH is located, I think those who have Solana in their pocket should keep it at this level. If an investor who does not have Solana in their pocket wants to buy Solana, since this level is psychological resistance, the probability of rejection and breaking is 50-50. Therefore, it is not a very suitable position for buying. In the correction that will occur in the event of a resistance break, buying would be much more logical. $202.29 - $128.16 (Good to Buy): This level has found good volume in 2024 and a side channel has been experienced. As long as the price does not fall permanently below the moving averages or the Hodrick-Prescott filter that I am currently showing on the chart, this level is a very good buy level. Investors who are especially waiting for an ATH breakout have made their preparations at this level. $128.16 - $87.79 (Cautious): Although it has been used as support twice, this level cannot be considered a perfect buy area since it is a level with relatively low volume. Therefore, it would be more accurate to expect Solana to converge to one side. $87.79 - $48.72 (Not Preferable): Probably one of the worst buy areas on the chart. Volume is almost non-existent. There is a big gap. Therefore, the price moves very sharply from $87 to $48. $48.72 - $28.26 (Good to Buy): This is the area where Solana is starting to recover. It is a good area to buy. $28.26 - $14.48 (Best Place to Buy): I don't know if this level will be seen again, but it is the level where Solana is extremely cheap. While most investors cry at this level, smart investors continue to collect Solana. Any DCA is suitable for investors who think Solana has a 4-digit intrinsic value. This analysis only indicates the best areas.
CRYPTO:SOLUSD
by YavuzAkbay
SOLANA BUY SOLANA Solana (SOL) is a high-performance blockchain platform designed for decentralized applications (dApps) and crypto projects. It aims to provide fast, secure, and scalable solutions for developers and users. Here's a quick overview of its key features and characteristics: --- ### **Key Features of Solana** 1. **High Speed:** Solana can process over 65,000 transactions per second (TPS) due to its innovative Proof of History (PoH) mechanism combined with Proof of Stake (PoS). 2. **Low Fees:** Transactions on the Solana network are inexpensive, often costing a fraction of a cent. 3. **Scalability:** Unlike many blockchains, Solana scales without relying on Layer-2 solutions. Its architecture is designed to grow with increasing network demand. 4. **Proof of History (PoH):** This is a unique innovation by Solana, which timestamps transactions to create a historical record, enhancing throughput and reducing confirmation times. 5. **Ecosystem:** Solana supports a wide range of dApps, DeFi projects, and NFT marketplaces, such as Serum (a decentralized exchange) and Magic Eden (an NFT marketplace). 6. **Developer-Friendly:** With support for programming languages like Rust and C, Solana makes it easier for developers to create robust applications. --- ### **SOL Token** - **Utility:** The SOL token is used for transaction fees, staking, and governance. - **Staking:** Holders can stake their SOL tokens to secure the network and earn rewards. - **Market Performance:** SOL is traded on major exchanges and is one of the top cryptocurrencies by market capitalization. --- ### **Advantages** - Extremely fast and efficient compared to older blockchains like Bitcoin and Ethereum. - Robust ecosystem with projects ranging from DeFi to gaming. - Supported by significant venture capital and partnerships. ### **Challenges** - **Centralization Concerns:** A relatively small number of validators compared to Ethereum. - **Network Outages:** In its early days, the network experienced periodic outages during high-demand periods. - **Competition:** Faces strong competition from other blockchain platforms like Ethereum, Binance Smart Chain, and Avalanche. --- Would you like more details about Solana's technology, investment potential, or specific projects in its ecosystem?
COINBASE:SOLUSDLong
by Hk808
SOLANA/USD Technical Analysis: Clear Upside Potential To start our TA here let's look at the Weekly Chart. We can see on first look that Solana is at it's all time high for the first time since November 2021 (3 years). It hit a low of $8 in December 2022 (man don't we all feel dumb!?) 🙂 Zooming in to the Daily Chart, we take a look at the 200 day MA. I bring this up now as you'll find me look at it a lot. My hypothesis (which I may have learned elsewhere), is if an asset (especially a crypto asset) is above it's 200-day Moving Average (meaning the current price is higher than the average of the last 200 days), then we are in a Bull Market. The opposite is also true. If we spend significant time below the 200-day and we bounce off of it, we are in a Bear Market. As seen on the chart. What is critical when we cross the line, is that when we retest it, we bounce. You don't want to use this as an immediate rule, as in many cases you can find assets cross below their 200-day. If you are confident in market conditions, this can be an optimal buying or selling opportunity depending on your bet (Buying in a bull market, selling in a bear market). Zooming in further on the chart, we see the most recent consolidation phase for Solana. It is critical when analyzing charts to recognize the different shapes and be able to draw them and understand what they could mean. This is not a foolproof strategy, but a highly probable hypothesis that you can use to try to predict the next move. Use other signals and indicators to test your hypothesis to potentially increase its likelihood, or invalidate it. We are being purely objective. This pattern is clearly a Bullish Pennant Pattern which can be found: reddit.com/media?url=https://i.redd.it/8nrgx1pmbot51.jpg Zooming in even further on the 1 hour chart we note that Solana just peaked over the previous all-time high (ATH) of $260.00 and hit $264.63. It was rejected off of that level, leading to fear. Many people bought the top thinking it would just blast off. Things don't work that way. ATH is a strong resistance and requires significant effort and reason to beat, especially for a top 10 Market Cap coin. So we look at a few indicators to understand what could happen next without making any rash decisions. The first thing I notice is the significant BUY VOLUME as noted by the tall green bars at the bottom of the chart. Secondly, we have a Bullish Falling Wedge Pattern that has printed and now broken out with strong buy volume confirmation. Third, it just so happened that on December 3rd, 2024, the NYSE and Grayscale filed for a Solana ETF with the SEC. Notice how we use multiple data points to help support our hypothesis for a continued uptrend. Knowing the current bullish environment, and what we've seen so far. The most likely scenario is a continued uptrend and a breakout from the ATH. Once the ETF is approved and on the market, institiutional buying could lead to parabolic moves. This is not investment advice. This is objective analysis. Do what you will with the shared data points and please go confirm them for yourself. 🙂 It doesn't stop there. One of the best indicators which is usually overlooked by newer traders is the SOL/BTC pairing. For all cryptos, there is a BTC pairing because BTC is the reserve currency. If we look at the BTC chart on the Daily time scale, we immediately notice the Symmetrical Triangle that has been forming since November of 2023, tightening up to February of 2025. Given all we know, and Bitcoins recent resurgence and ATH nearly touching 100k, this may be another data point that helps support our hypothesis of a continued uptrend in the price of Solana over time. HOWEVER, the symmetrical triangle has an equal chance of going up or down, so we can only be sure a significant move against BTC is imminent, but not the direction. With this in mind, we need to consider the scenarios where the BTC pairing could go up or down as it is more dynamic than a standard BTC pairing. For example, if BTC were to move up, while SOL remained the same, the BTC pairing would go down, even if the USD value did not change. The opposite is also true. Three things give me a more likely BEAR case for SOL vs BTC: 1. The fib extension has maxed out to the 4.236 level, BUT it also has corrected (slightly), so if this is all that it will correct, the BULL case is actually stronger should it make an upward move. 2. If the move is upward, it won't be without resistance. The top line shows the ATH in September 2021. This will be met with resistance before it can make a move up and find new highs. 3. Zooming out shows an "A-B" of what would usually be an "A-B-C" correction, if you follow Elliot Wave Theory (which I do). This makes me concerned that a massive move down is likely. Elliot Wave Theory (EWT) is generally useful but I do find it is not 100% foolproof and should only be a data point. Still, the C-wave correction is very common and may lead us back to the support line shown. Finally, if you remember from above the 200-day MA, this also exists on the BTC pairing. In just the last few days we had a drop in the price of SOL. This drop went below the 200-day MA. This could have been scary for many who track the MA, if they didn't look for the other signs. Transparently, I bought here. tripled down actually. Started when it touched the line, and then kept buying until I couldn't. I didn't get the bottom of the move, but I tracked a support line at $210 USD which is where I'd consider stopping out of my position if it went lower than that. For now, we look at this move below the BTC 200-day and notice the following: 1, A Falling Wedge pattern which you saw in a previously above. 2. The lower white line is also the bottom of the Symmetrical Triangle shown above. 3. The attempted dump led to a massive bounce with significant green volume candles, pushing it back over the BTC 200-day in just a few hours. This was helped by the ETF announcement (but do you believe in coincidences?) - I love seeing this confluence with reality and wonder if it is intentional. One could argue that lower line below the 200-day was a prime buying opportunity IF the move is upward from here, which the fundamentals and multiple analysis data points I've shared here support. THIS WAS A FAKE OUT THEN BREAK OUT. But will it continue? We are breaking over the 200 day MA again WITH VOLUME which is an excellent sign. So what do you do if you want to get a piece of the action and limit your risk at the same time? Don't just go all in on Solana, because risk is REAL in the markets no matter how much analysis we do. A good strategy is to get a small position, and then try to cost average as the price declines. We saw a retrace of the move, and in beautiful CONFLUENCE, we see a bounce off of the 618 retracement at the exact same line as the falling wedge. Will that hold? Will we go lower? Or is it up from here? Only time can tell... MANAGE YOUR RISK. Thanks for reading and be safe out there! This is for informational purposes only and not a suggestion or recommendation to buy or sell any asset or otherwise. You are responsible for your own decisions no matter where you get information. Never invest if you can't afford it and consider all investing gambling. - Shadowfigure
COINBASE:SOLUSDLong
by Shadowfigure
21
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
Resistance Levels in altcoins Concurrent with the indices being at major inflection points crypto has broadly also filled major inflection points. Let's look at the different setups. First we have SOL in the main chart. Inset is the BTC high before the 2022 bear market. Different in a few ways but both the same general idea of a nominal spike above the previous high that fits inside of a harmonic pattern. Most of the things we're going to be looking at have extreme bullish momentum at time of writing but the patterns we're going to be looking at all forecast extreme momentum into their fills. For example, in SOL we are using a harmonic. If this was the end of a harmonic, we'd have just seen the D leg. It is a hard set rule of all harmonics that the most aggressive part of the move is the D leg. Always. The defining characteristic of a D leg is exceptional momentum that builds to the point of looking unstoppable. So anything based on momentum, breaks of anything that's not the actionable fib levels, candle patterns etc - these are all annulled. The D leg is defined by being exceptional by all momentum metrics. I'm sure the other recurring point made against my ideas here will be the halving cycle break out and it's not being enough days yet etc etc. I still have my doubts about the efficacy of the halving thing. I need longer to determine 4 year cycles. Breakout did come right when predicted through. Well done to those who benefited from that. My stance on the halving theory hasn't changed because when people brought it up before I always just told them I don't care. I'm trading TA patterns. They'll get me out early if I am wrong. I'm going to make 1,000s of trades in my life - lots of them will be wrong. It's fine. Everything you can explain with the halving I can explain with fib breaks. And it's still conspicuous to me that BTC and indices continue to move in tandem. Meaning we'd have to class the halving as coincidence or a driver of indices moves. But none of that matters to me. The TA implications if the reversal patterns fail here are quite similar to the bulls halving forecasts. If we break we may end up agreeing on the same thing for different reasons. Or if this is just stop gaming / FOMO inducing, we should be at or very near the end of it now. I like the fibs. Here's some other patterns;
COINBASE:SOLUSDShort
by holeyprofit
4
Roadmap for -60% in Crypto Alts The other day I posted the confluence of resistance patterns in alts. They are now down 10 - 25% depending how much of a gamble the bet was (My idea is if the price starts 0.00000 then there are numbers, this is probably a gamble). Let's now map the typical downside break path. We're going to use the norms of breaks of 1.27 - 1.61 zone. 2.20 - 2.61 zone and a final target of 4.23. These are typical things I see in trend development (be it bull or bear). All updates to:
COINBASE:SOLUSDShort
by holeyprofit
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