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SOLUSDT trade ideas

$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
SOL Waiting For The BEST Entry: Bullish TriangleSOL has been trading inside this triangle pattern since practically forever. I'm not calling for a bearish move here, I'm only sharing my view from where I will enter if we continue to go down. The bottom support has been holding on 4 seperate ocassions, my assumption is that it requires a lot of power to fall through, since bulls will be buying from there. Ideally, SOL will move back up to the top resistance, or even better break out of it.
Long
by FieryTrading
6
SOL Near Term Retest Move !Sol dropping recent days. But probably price reached to support with $132 for a while. Price has lost mid term white uptrend channel for the first time past days. Price didn't close any days under this white uptrend channel for almost 7-8 months. But now it failed there as daily close. That's why currently i believe that retest move will come with upward momentum and then price will continue to downward direction because of it lost its important uptrend channel. Retest zone points to $148.5 - $150 area. We can see this region in few days.
Long
by huecoshunter
1