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SOLUSDT trade ideas

SOL LongWe are observing a potential long scalp opportunity for SOL/USDT. The price has broken out from a cup and handle pattern on the 1-hour chart and is currently retesting the neckline, with support found in the $142-$144 range. To mitigate risk, a stop loss should be set at $137.24, and low leverage (maximum 5x) is recommended. Price Targets:Should the upward movement persist, our price targets are: $150 $155 $160 $170 This setup presents a favorable opportunity to capitalize on the market movement. Let's monitor the trade and see how it unfolds.
Long
by Kat-Crypto-Street1
SOLUSDT SHORTShort (SELL) Entry Trigger: Confirmation of a bearish breakout from the wedge pattern. Stop Loss: Placed at 145.500 - 146.500 Take Profit: Targeting 128.500 - 120.500 Detailed Explanation: Bearish Wedge Formation: The yellow trendlines form a bearish wedge, typically indicating a potential downward breakout. The wedge shows a series of higher lows and lower highs converging, creating pressure that might lead to a price drop once support is broken. Confirmation: Wait for a break below the lower yellow trendline to confirm the bearish breakout. A strong bearish candle closing below this line would strengthen the bearish bias. Stop Loss (145.500 - 146.500): The stop loss is strategically placed above the upper boundary of the wedge and above significant resistance levels. This zone provides a buffer against potential false breakouts or short-term volatility spikes. Risk Management: Keeping the stop loss in this range limits potential losses if the price moves against the position, ensuring disciplined risk management. Take Profit (128.500 - 120.500): First Target (128.500): Support Zone: This level is aligned with previous support and a potential bounce zone. It’s a conservative target, ensuring partial profit-taking before any major support levels. Second Target (120.500): Deeper Retracement: Aiming for a more significant price drop, this target lies within a major support zone, maximizing potential profit. It's essential to monitor price action as it approaches this level for signs of reversal or consolidation. Indicators and Confirmation: Watch for increasing selling volume on the breakout for additional confirmation. High volume adds credibility to the breakout and subsequent downtrend. Momentum Oscillators: Utilize tools like RSI or MACD to check for bearish momentum. Overbought conditions or bearish crossovers can provide extra validation for the short entry. Market Sentiment: Keep an eye on market news related to SOL and the broader cryptocurrency market. Significant news can impact price movements and might require adjusting the strategy. Potential Adjustments: As the price moves favorably, consider trailing the stop loss to lock in profits while allowing the position to run. This can be done by moving the stop loss incrementally as the price hits new lows. Re-evaluation: If the price action shows strong support at intermediate levels, re-evaluate the take profit strategy. Partial profit-taking at minor support zones can be considered to manage risk and secure gains.
Short
by WeloTrades
2
#SOLANA / the most accurate roadmapSolana's trend will be falling for now But what are the points that you should pay attention to?! First: As long as it is in the BEARISH channel of the 1-hour time-frame, there is a possibility of a sharp drop towards the specified targets. So, if you see patterns of continuation of the trend in lower time frames (below the 1-hour time frame), do not hesitate to get SELL! Second: If the BEARISH channel of the 1-hour time-frame breaks upwards, you should look for confirmation of the SELL on one of the key levels of 139.94, 144.80 or 148.07. Falling targets in order from short term to long term: Target 1: 129.31-128.67 Target 2: 120.54 Target 3: 110.73 What details can you add to this analysis? Comment me
Short
by Eldorado_Land
9
Is Solana (SOL) reclaiming $180?Solana price has displayed a similar price action by recording a significant correction in its respective portfolio. With the rising price volatility in the crypto space, will Solana price record a bullish reversal this week or plunge toward its new low? Following, the ongoing cross-border market correction, the Solana price has lost 4.61% in valuation within the past 24 hours with a trading volume of $2.265 Billion, a change of +9.53%. Further, it has plunged 10.48% during the past week and 18.90% over the past 30 days. The Solana price has been trading within a closed range since mid-April, indicating a weak price action for the altcoin in the crypto market. Moreover, the SOL price has formed a resistance zone above its resistance level of $155, highlighting a strong selling point at that level. However, strong buying pressure has also formed close to its crucial support trendline around the $120 level, indicating a high possibility of a bullish reversal for the Solana price at that point. If the market holds the SOL coin price above its crucial support level of $127, the bulls will regain momentum and head toward its resistance level of $155. Maintaining the price at that level will set the stage for Solana price to attempt to test its upper resistance level of $181.50 this month. However, if the bears continue to dominate the market, the SOL crypto will plunge toward its crucial support level of $127.00. Moreover, if the bulls fail to hold the price at that level, it will prepare to test its low of $100 during the upcoming weeks.
by paul_endeo
#SOLANA / Weekly Roadmap!Priority is given to short-term growth up to the target range of 147.50-150.76 If you see a strong upward trend, the next growth target can be the price of 169.88!! The STOP-LOSS of the growth scenario: the BULLISH trend-line of the 15-minute time-frame and the support range is 135.88-135.40 That is, as long as we are above these two supports, the DROP are temporary and the growth towards the targets I mentioned will continue!! If the growth scenario SL is activated (BREAKDOWN of the mentioned supports): The fall of #SOL towards the targets: 127.47-1 2-123.30 3-116.76-120.54 begins... What do you think about #Solana's move AT this week?
Long
by Eldorado_Land
Solana Price Might Explode as a Breakout Pattern EmergesThe Solana price managed to record a slight gain over the past 24 hours to trade at $137.33 at press time. Despite the slight uptick, the SOL price is still in the red on the weekly and monthly timeframes. A symmetrical triangle has formed on the 4-hour chart for the Solana price. This specific pattern suggests the altcoin might make a strong move soon. Although the triangle pattern does not give any clear indication of which direction SOL could move in, the crypto is trading near the upper boundary of the chart pattern. Should the Solana price break out towards the upside, it could attempt to flip the resistance level at $144.30 into support. Continued buy volume should the crypto overcome this threshold might then lead to SOL climbing to as high as $151.45 in the short term. On the other hand, a downside move could lead to the altcoin losing the $136.45 support. Thereafter, the Solana price might be at risk of plunging to $127.70 and possibly fall to $121.65 if bears keep exerting pressure on the crypto’s price. Technical Indicators Sending Mixed Signals Technical indicators on SOL’s 4-hour chart are currently sending mixed signals. The Moving Average Convergence Divergence (MACD) indicator shows that SOL entered into a short-term positive cycle in the last couple of hours. This is evident by the MACD line breaking away above the MACD Signal line. However, the Relative Strength Index (RSI) warns that sellers are on the verge of gaining an upper hand against buyers on SOL’s 4-hour chart. With the RSI on the cusp of falling below its Simple Moving Average (SMA) line, bears could very well take control of the Solana price. This could lead to a drop below the immediate support at $136.45. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
by Ecoinimist
1
Lingrid | SOLUSDT long from the DEMAND areaBINANCE:SOLUSDT price has entered a consolidation phase after a significant bullish move, oscillating between 160.00 and 120.00. Given the classic trading strategy of buying at the bottom and selling at the top of the pattern, it's logical to anticipate a buy opportunity at the lower end of this range. Notably, the market has already reacted to the key support level at 120.00, with multiple rejection candles forming as it bounces off this level. I expect the price to retest this key level again before potentially moving upwards by taking liquidity below the equal lows. My target is resistance zone around 157.40 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
11
SOLUSDTUnderstanding the Head and Shoulders Pattern in SOL/USDT What is the Head and Shoulders Pattern? The head and shoulders pattern is a classic technical analysis formation that signals a potential reversal in the trend. It consists of three peaks: a higher peak (the head) between two lower peaks (the shoulders). This pattern is often used by traders to predict a shift from a bullish to a bearish trend. Breakdown of the Pattern Left Shoulder: The price rises to a peak and then declines. Head: The price rises again to a higher peak, forming the head, and then declines once more. Right Shoulder: The price rises once more but to a peak similar to the first peak and then declines again. The neckline, drawn by connecting the lowest points of the two troughs, is a crucial support level. Once the price breaks below this neckline, it confirms the pattern and suggests a potential bearish move. Current Situation in SOL/USDT Solana (SOL) has recently completed a head and shoulders pattern and has broken below the neckline. This indicates a potential bearish trend reversal, making it an interesting short trade opportunity. Expected Returns If the head and shoulders pattern fulfills, traders could expect about an 8.35% return on this short trade. This return is calculated based on the height of the pattern from the head to the neckline, projected downward from the point of the breakout. Technical Analysis Insights Inverse Head and Shoulders Pattern: For context, the inverse head and shoulders pattern is the opposite and signals a bullish reversal. Currently, SOL's formation is a standard head and shoulders, indicating a bearish outlook 2. Support and Resistance: Key resistance levels are around $150.77 - $158.89, with significant support around $118.69 - $120.00 2. Risk Management Risk management is crucial in trading. Always use a stop-loss to limit potential losses. For this trade, setting a stop-loss slightly above the neckline can help manage risks effectively. Conclusion The head and shoulders pattern in SOL/USDT suggests a possible bearish trend with an 8.35% return on a short trade. As always, conduct your own research and consider your risk tolerance before making any trading decisions. Further Reading Technical Analysis Basics: For those new to technical analysis, understanding the basics can provide a solid foundation. Risk Management Strategies: Implementing effective risk management can help protect your capital in volatile markets. By understanding and utilizing these patterns and strategies, traders can better navigate the complexities of the cryptocurrency market. Note: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research before making any trading decisions.
Short
by XTradeSetup
1