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SOLUSDT trade ideas

Solusdt trading opportunityWe observed that a bullish formation for Solana has just been broken, which we believe will fuel the next major rally for the coin. This breakout signals a potential shift in market sentiment towards a bullish trend. The designated buy-back zone presents a strategic buying opportunity, as it is identified based on recent price action and support levels, offering a lower-risk entry point. This setup suggests that we could benefit from the anticipated upward movement while minimizing downside exposure.
by weslad
3
SOL - 100$ or 80$, what is next?SOL has been defending this huge support around ~120$ for several months now but I'm afraid we are going to see a drop below this area very soon. The price action of the last few weeks clearly have the characteristics of a SHS pattern, with the head located around 184-190$. So this would give us a target of ~80$ but really not sure if it's going to drop that low. However, pretty sure we are going to see at least 100$ getting tested, there is just too much liquidity resting below 120$ (triggered stops and liquidations that is), so it could drop to 100$ and see a quick recovery above 120$. From there I won't dare to predict what could happen next. So, if we see SOL approaching the green zone again and not see a big bounce but rather see momentum slowing down, it's just a matter of time until it's going to drop IMO. Timing this can be difficult, especially if you want to short this (which I would NOT recommend). Better play would be to wait for a long entry around 100$ on low leverage and build your position throughout a possible bottom formation and add on a clean break and retest of 120$. Stay safe!
by TV288
Lingrid | SOLUSDT breakout-PULLBACK-Continuation tradeThe price perfectly fulfilled my previous idea. It hit the target level. BINANCE:SOLUSDT has been ranging between the 140 and 160 levels, but it has recently broken and closed below this range. This indicates a shift in market dynamics. I believe the market is now heading to retest the area where we observed a bullish impulse leg previously. The break below the upward trendline suggests that the price has entered a consolidating phase, which was signaled by the price being above the trendline and showing bullish momentum. Given this context, I expect the market to push a little further down towards a key round number, which could act as a psychological level of support. My target is support level at 120 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
3
$SOL wants to flyBut today I would like to focus on the Technical Analysis CRYPTOCAP:SOL perspective: - The Weekly Stoch RSI it's as oversold as it was in early January, just before the Solana bull run. - The Daily Stoch RSI it's also quite oversold pointing for a breakout - We are reaching the final squeeze momentum against the local downtrend - The $125 support has worked like magic 6 times already - In every single test we have had a flush followed by a pump of around +32% - The risk/reward looks top notch to me here
Long
by CryptoRand
2
SOL Bottom BINANCE:SOLUSDT Based purely off technicals SOL looks to be bottomed or very close to one. 130 support 126 previous year (2023) high Solana bottomed after 8 straight down days on Aug 5th and has experienced the same just now Anytime Sol has suffered 5+ straight down days it has typically marked a local bottom or THE bottom 12H, 50 period MA speed showing a bottom Vertical blue lines marking extreme down days exhaustion. This MA speed (50 period on 12H) is a interesting RSI alternative and we are at the bottom bidding zone. - - - Right now Sol is heavily shorted yet price has simply come back to previous major support zone. There lies liquidity (Longs SL's) below the 110 wick from Aug 5th but hard to know if it wants to get left alone or retested. Lots of Liquidity is at 141, 146, and 164. Solana Breakpoint coming up on Sep 20th and will pique interest. Perhaps its a sell the news if we see any sort of rally in SOL. Key economic data coming early this month along with the start of rate cuts are key to watch. I will be looking for some bids soon but could take a while for any sort of major movement. All I see is a decent RR area right here.
Long
by bhx10
SOL - Where to buy?We are starting to retest range low a bit too many times for my liking, so I'm not a buyer here even though it's technically at support. I either want to see strength and buy on momentum, or buy the lower low when we retest the previous consolidation. A strategy can be to buy between previous range poc and val, then use a soft stop below the range. Important for me is that if I buy a lower low, I sell a decent amount at the lower high, so I'll be taking some off at current range val or any other first sign of resistance.
Long
by Tealstreet
Does Solana will continue their bounce play more than 45% !!Solana has gained more than 45 % from last fall down that was in 5th August 2024 the trend right now is inside the range ( Phase C - Wyckoff Method ) The far target is 216 ( Top of the side way range) if the Re-accumulation phase has succeed. SL is 141.46 ( this for me is consider thin stop loss due to the high BINANCE:SOLUSDT volatility of the crypto market) I am Just sharing insights and market trends for learning and growing every day and it is not financial advice.
Long
by FSelim55
4
Bullish Breakout: Solana's Wedge Reversal and Fibonacci Surge### Trading Strategy Explanation 1. **Falling Wedge**: This pattern is visible from the downward sloping lines containing the price action, ending in converging trendlines. This pattern typically indicates a bullish reversal, suggesting an upcoming uptrend after the breakout. 2. **Elliott Wave Correction Pattern**: The analysis incorporates Elliott Wave theory, specifically focusing on a corrective ABC pattern following a five-wave impulse decline. Point B in the ABC correction falls between the 0.618 and 0.5 Fibonacci retracement levels, which are considered strong levels for potential entries as they often act as reversal points in the price of an asset. 3. **Trade Execution**: - **Entry**: The strategy proposes entering the trade within the range of the 0.618 to 0.5 Fibonacci levels, which are historically significant for price reversals. So the entry for this strategy is right at this moment. - **Stop Loss (SL)**: The SL is set just below the 0.236 Fibonacci level, providing a buffer to accommodate price fluctuations without exiting the trade prematurely. - **Take Profit (TP)**: The initial take profit is set at the 1.618 Fibonacci extension, often referred to as the "golden ratio," a common target in trading for significant price movements. But before this TP, there is another TP level at 139 where we take 50% Profit and move our SL to the entry. This is to prevent any loss so either we walk away with 50% Profit or more. But we cannot loose anything anymore. This TP is set to 139 because thats where there is the order block and that is where there is poin A located from the EW Correction Wave. 4. **Order Blocks and Price Behavior**: - The strategy outlines two order blocks (areas where significant buying or selling occurred previously) expected to either serve as resistance or support. The price is anticipated to either: - Bounce off the first order block, then pull back, or - Break through, retest, and then proceed to the second order block. - A partial profit (50%) is taken at the first order block around $139, and the SL is moved to the entry point to prevent losses, ensuring a risk-free trade moving forward as mentioned before. So either way we would walk away in Profit. 5. **Bearish Trend Line and Price Retest**: - After breaking the bearish trend line, the strategy anticipates a possible retest of this line. A successful retest and bounce off this line would further confirm the bullish outlook and continuation of the uptrend toward the equilibrium or higher resistance levels. ### Summary This trading idea focuses on leveraging technical patterns and Fibonacci levels to set strategic entry and exit points, mitigating risk while aiming for potential high reward. The detailed use of Elliott Wave for trend analysis combined with the Fibonacci retracement for pinpointing entry and stop-loss levels, and taking profits at key Fibonacci extensions, makes this strategy robust for traders looking for precise market entry and exit points.
Long
by Uptrick