Get started

SOL / TetherUS PERPETUAL CONTRACT

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Markets

SOLUSDT.P trade ideas

Is Solana at risk of a price reversal? What historic trends say:Solana (SOL), the world’s fourth-largest cryptocurrency, gained massive attention as it broke out of the crucial resistance level of $187. Following SOL’s crucial breakout, there is a high chance that it could rise to the next resistance, which is near $204. However, there is also a concern among the new investors about a potential price reversal from this upcoming resistance. According to the historical data and price action, whenever SOL has reached the $204 level, it has consistently experienced a notable price reversal. Since March 2024, SOL has reached this level twice and experienced a significant price reversal each time, which is the reason for the concern among new investors. As of writing, SOL is trading near $184 and has experienced a 4.5% upside move in the last 24 hours. Despite an impressive price surge, trading volume has dropped by 18% over the same period. This decline in trading volume might indicate that investors and traders are conscious of the resistance level due to the historical price reversal. According to technical analysis, SOL recently broke out of the crucial resistance level of $187, and was heading toward the next resistance level of $204. Following this breakout, there is a high possibility that SOL could reach the $204 level in the coming days. Relative Strength Index (RSI) is above 50, signaling trend steadiness. Also, major liquidation levels emerged near the $180 and $203 levels. This creates a potentially bullish outlook for SOL.
by paul_endeo
$ETH & $SOL Performance CyclicalityCyclicality of CRYPTOCAP:SOL (under-performance) and CRYPTOCAP:ETH (over-performance) relative to CRYPTOCAP:BTC ∘ only using data YTD but there seems to be a cyclical pattern to the performance of CRYPTOCAP:ETH and CRYPTOCAP:SOL wrt CRYPTOCAP:BTC ∘ basically CRYPTOCAP:SOL under-performs CRYPTOCAP:BTC and catches up while CRYPTOCAP:ETH is opposite ∘ and the cycle period is about 2-3 mths 🔥 fwiw, CRYPTOCAP:SOL has caught up to CRYPTOCAP:BTC perf ratio-wise while CRYPTOCAP:ETH under-performance is at ratio lows 🤔 tbh, based the cyclicality, for me CRYPTOCAP:SOL is a much better buy as a catchup trade to CRYPTOCAP:BTC outperformance. The time to long CRYPTOCAP:SOL is when CRYPTOCAP:BTC really roofs, not now imho #technicals
by neoman007
Phemex Analysis #10: Solana - Blinks, ETF, and a 60% Surge! The recent surge in PHEMEX:SOLUSDT.P (SOL) price, fueled by the buzz surrounding its "Blinks" feature and speculation surrounding a potential Solana ETF launch, has drawn significant attention from the market. As we analyze the current price action, it's crucial to understand the key resistance and support levels that could shape SOL's future trajectory. Market Context: ETF Speculation: The anticipation of a Solana ETF, following the recent launch of Bitcoin and Ethereum ETFs, has injected a sense of optimism into the market. This speculation has contributed to the recent price surge. Blinks Feature: The introduction of Solana's "Blinks" feature, a novel technology for faster and more efficient transactions, has generated significant buzz on social media platforms like X (formerly Twitter). This positive sentiment has likely played a role in the recent price gains. Technical Analysis: Resistance: SOL's price has encountered resistance around the $205-$210 level. This resistance zone represents a significant psychological barrier and could potentially cap further upside movement. Support: A strong support level has been established at the $120-$110 range. This level represents a key area where buyers are likely to step in and prevent further price declines. Possible Scenarios: Bullish Breakout: A breakout above the $210 resistance level, accompanied by high trading volume, would signal a strong bullish sentiment. This scenario could potentially lead to a significant price rally, particularly if the overall market sentiment remains positive. Strong Rejection at $210: If the price encounters strong selling pressure at the $210 resistance level, it could trigger a retracement towards the $130 or even the $110 support levels. This scenario could present a buying opportunity for investors who believe in SOL's long-term potential, as the price consolidates around these support levels. Conclusion: The recent surge in SOL's price has been driven by a combination of factors, including ETF speculation and the excitement surrounding the "Blinks" feature. While the current price action is bullish, it's important to recognize the potential resistance and support levels that could influence future price movements. Investors should carefully consider these technical factors and the broader market sentiment before making any trading decisions. Note: Have you tried buying crypto on Phemex yet? We support 30+ payment methods, 60+ fiat currencies, and 10+ cryptocurrencies. There's definitely one that suits you! Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
by Phemex
Solana Price Surges with Strong Technical IndicatorsBINANCE:SOLUSDT has recently displayed significant movement on its 4-hour chart, signaling potential bullish momentum. Recent closing prices indicate a steady upward trend. This upward trajectory is further supported by the 9 EMA and the 20 EMA, which are currently trending higher, reflecting a bullish sentiment. The 9 EMA has risen from $183.46 to $187.12, while the 20 EMA has increased from $181.16 to $183.80. This crossover pattern suggests a strengthening bullish trend, as the shorter-term moving average has moved above the longer-term average. Additionally, the MACD histogram has shown consistent positive values, indicating increasing buying pressure. The MACD line has been above the signal line, reinforcing the bullish outlook. The latest MACD values reveal a significant divergence, with the histogram expanding to 0.7016, highlighting strong momentum. Meanwhile, the Relative Strength Index (RSI) has also climbed, moving from 59.92 to 73.17, entering the overbought territory. This surge suggests that SOL might experience some near-term consolidation or a minor pullback before continuing its upward journey. However, the overall strength reflected by the RSI indicates robust buying interest. In terms of support levels, the Solana price has key zones at $181.48, $175.3, and $171.98. These levels are crucial for traders to watch, as they could provide entry points for long positions if the price retraces to these areas. On the resistance side, the next significant hurdle lies around $200, a psychological barrier that, if broken, could propel SOL towards new highs. For traders looking to capitalize on SOL's movements, the following strategies could be considered: Long Entry Points: Around $181.48, $175.3, and $171.98, with potential exit points near the $200 level. Short Entry Points: If SOL approaches the overbought territory above 200, short positions could be considered, targeting a pullback to the support levels. The bullish indicators suggest that any dips to the mentioned support levels might present buying opportunities. However, given the RSI's overbought condition, cautious traders might wait for a slight pullback before entering new long positions. Overall, the Solana price is demonstrating strong bullish signals across multiple technical indicators. The rising EMAs, positive MACD histogram, and elevated RSI all point towards a continued upward trend. Traders should keep an eye on the support levels for potential buying opportunities and the resistance levels for possible profit-taking or short entry points.
Long
by Ecoinimist
Clarifying Solana's Path Hey friends, I always try to stay away from any specific news or events and focus solely on clarifying my path using Elliott Waves. After spending some time analyzing Solana's chart, here's what I've found: Solana has recently completed its fourth wave and has started forming its fifth wave. In the image, there's a clear parallel channel that I've explained. The question is: What happens now? ☝️ There are two possibilities: 1. All five waves have formed correctly and completely. 2. The fifth wave is not complete and is still forming. Let's examine both scenarios 🙌🏽. I'm approaching this with an unbiased perspective. If the first scenario is correct and the five waves are complete, we are now in wave a, which could present good selling opportunities. If the second scenario is true, we are now in wave 2 of the five waves, which could present good buying opportunities. But how can we determine which scenario will play out? I'd love to hear your thoughts, whatever they may be. Your friend, Rabbit ❤️
by alirexavy
SOL at critical resistance trendlineSOL is at a crucial resistance trendline in this weekly timeframe. Here are two scenarios we can consider for SOL in a higher timeframe: Bullish Scenario: If SOL closes above the $200 resistance trendline in the weekly TF, we are likely to see a decent rally and possibly a new all-time high. Bearish Scenario: If SOL gets rejected from the $200 resistance level, it is possible to see a correction in SOL. Fundamentally, SOL is a strong project, and with their meme coins, it is hard to imagine a 70% to 80% drop in SOL. Technically, SOL is at a decisive point. The RSI is unable to gain momentum, indicating the formation of bearish divergence. Consideration: It will be wise to wait for the weekly close and let the chart show some confirmation, either bullish or bearish. I hope this analysis helps you make a better decision. Please do your own research and analysis for final confirmation. Regards, Team Dexter.
by Dexter_The_Trader
SOL/USDT Outlook ICT ConceptsSolana (SOL/USDT) Analysis 💰 Welcome to Your Channel! Welcome to our channel where we delve into the intricacies of financial markets. Today, we focus on SOL/USDT, dissecting its current price action to uncover strategic trading opportunities. Join us as we analyze key levels and market dynamics, aiming to refine our trading strategies and maximize potential gains. 💡 Previous Analysis Review: We expected a market structure shift after the sweep of the previous month's low, which occurred. The Intermediate Fair Value Gap (IFVG) held the price, leading to an expansion higher into the previous month's high. 📍 Current Market Overview: The current price is around 184.18. We recently swept the previous week's high and are close to the buy-side liquidity (BSL) above the chart. 🔍 Identifying Key Levels: • PMH: Previous Month High • PWH: Previous Week High • PWL: Previous Week Low • BSL: Buy-Side Liquidity • SSL: Sell-Side Liquidity • Minor SSL: Minor Sell-Side Liquidity • Daily FVG: Daily Fair Value Gap, highlighting areas of imbalance on the daily timeframe 📊 Key Considerations: • Current Price Position: The price is trading around 184.18, close to sweeping the buy-side liquidity (BSL). • Key Levels Swept: The price has taken out the previous week's high and is near the BSL. • Potential Retracement: Anticipate the price to start moving lower from here, or wait for the BSL to be taken before looking for short positions. Long Position Scenarios: • For a long position, wait for the SSLs below the chart to be taken, then look for long opportunities. A riskier long scenario involves a sweep of the Minor SSL, followed by entry on lower time frames targeting the BSL above the chart. 📈 Bullish Scenario: Given the current price action and key considerations, a bullish scenario is possible if the following conditions are met: • Sweep of Minor SSL: After sweeping the Minor SSL, look for entry on lower time frames targeting the BSL above the chart. • Protected Lows: The SSLs below the chart act as protected levels, supporting a bullish continuation after being taken. 📉 Bearish Scenario: A bearish scenario is likely if the following conditions are met: • Sweep of BSL: The price sweeps the buy-side liquidity, indicating a potential reversal and bearish movement. • Failure to Hold Above Key Levels: If the price fails to hold above the key levels and starts to decline, further bearish movement is likely. 📊 Chart Analysis Summary: • Bullish Expectation: The expectation is for the price to potentially sweep the Minor SSL, retrace lower, and then look for long entries targeting the BSL above the chart. Alternatively, wait for the SSLs to be taken before looking for long opportunities. • Bearish Expectation: If the price sweeps the BSL, it could signal a bearish scenario. If the price fails to hold above the key levels and breaks below the recent lows, further bearish movement is anticipated. 🙏 Thank you for joining us! Exploring SOL/USDT today highlighted the importance of effective risk management in trading success. Prioritize research, implement robust strategies, and seek guidance for confident market navigation. Stay tuned for more insights on our channel. Here's to profitable trading and continuous learning! ⚠️ Disclaimer The information provided here is for educational purposes only and should not be taken as financial advice. Always conduct your own research and consult a licensed financial advisor before making any investment decisions.
by RealArmin
SOL Gol📊 Analysis by AhmadArz: SOLUSDT Technical Analysis Using Price Action This analysis utilizes the Price Action method and descending channel lines. Here is a detailed explanation of the SOL/USDT trading signal, which can help you determine appropriate entry and exit points in your trades. 🔍 Entry Point: The entry point occurs when the price breaks above the descending channel line (blue line) and confirms with a strong bullish candle. Typically, this happens with a significant bullish candle closing above the channel line. Therefore: Suggested Entry Point: Around 127.90 USDT (after confirmation on the first 4-hour bullish candle) 📈 🛑 Stop Loss: The stop loss should be placed at a level where, if the price reaches it, the likelihood of further decline is high. This point is usually below strong support areas. Therefore: Suggested Stop Loss: 120.80 USDT (below the lowest swing) 🚫 🎯 Take Profit: After entering the trade, setting price targets is crucial to optimize your profit. In this analysis, several Take Profit (TP) levels are identified, each with its own rationale: TP1: 127.72 USDT 💰 Reason: This level is close to the entry point and serves as the first short-term target. The goal is to lock in short-term gains and reduce risk. TP2: 142.43 USDT 🔄 Reason: This level is near the previous descending trendline, which may act as resistance. This is a suitable target for a mid-term exit. TP3: 149.20 USDT 🚀 Reason: This level is a strong previous resistance where the price might react. Breaking this level could lead to further upward movement. TP4: 157.55 USDT 📈 Reason: This level is near a key resistance where the price has reacted multiple times before. Targeting this level indicates a high likelihood of price reaction. TP5: 163.98 USDT 📊 Reason: This level is near the highest price level in the recent period. If the price reaches this level, it is likely to stabilize. TP6: 174.65 USDT 🌟 Reason: This level is a long-term target and the highest resistance level in the analysis. Reaching this level could indicate further potential for higher prices. 📊 Signal Story: This analysis shows that SOL/USDT is moving within a descending channel. If the price can break above the descending channel line and confirm with a bullish candle, it is likely to move towards higher targets. Therefore, the suggested entry point is around 127.90 USDT. 📉 The stop loss is placed below a strong support area to prevent significant losses if the price moves downward. The Take Profit (TP) targets are specified in sequence, which can be used to set exit points. 🚫 💡 Key Points: Entry Point: Around 127.90 USDT (after confirmation on the first 4-hour bullish candle) 📈 Stop Loss: 120.80 USDT (below the lowest swing) 🚫 Take Profit Targets (TP): TP1: 127.72 USDT 💰 TP2: 142.43 USDT 🔄 TP3: 149.20 USDT 🚀 TP4: 157.55 USDT 📈 TP5: 163.98 USDT 📊 TP6: 174.65 USDT 🌟 🔗 "Uncover new opportunities in the world of cryptocurrencies with AhmadArz. 💡 Join us on TradingView and expand your investment knowledge with our five years of experience in financial markets." 🚀 Please boost and 💬 comment to share your thoughts with us!
Long
by ahmadarz
6