SolanaAfter forming an inside bar with the previous day low, I waited for the power of 3 before kicking off
SOLWETH_2AF65C.USD trade ideas
Looking for longs on Solami CoinJust waiting for a tad bit more accumulation in this range.
As referenced in the picture above.
Green box = Buy breakout
Red box = Sell breakout
White box= Do nothing
SOLUSD BUYSOL/USD is approaching a pullback support level aligned with the 38.2% Fibonacci retracement.
Entry point: $155.02. This level could potentially lead to a bounce toward our take profit1.
Remember that cryptocurrency markets can be volatile, so always conduct your own research and consider multiple factors when making trading decisions.
(SOLUSD) Crypto Market Liquidations Top $330 Million in 24 HoursCrypto Market Liquidations Top $330 Million in 24 Hours, Led by Ethereum
As Bitcoin and Ethereum prices surged toward new all-time highs, short-term traders have borne the brunt of liquidations. In the past day alone, over $330 million was liquidated from the crypto market, primarily affecting short traders who anticipated a price decline.
**Over 78,000 Traders Liquidated for $330 Million**
Data from Coinglass reveals that the last 24 hours have been particularly harsh for crypto traders. More than 78,000 traders saw their positions liquidated, resulting in substantial losses totaling $330 million.
Of this amount, 81.42%—equivalent to $268.76 million—came from short traders, while long traders accounted for $61.31 million in liquidations.
Technically:
The price is expected to test the support zone at 169.70 before pushing up again to reach the resistance zone at 192.72. Solana's price is likely to consolidate between 169.70 and 192.72 this week until a breakout occurs.
Despite the consolidation, bullish pressure remains, aiming for 192.72 and 202.50.
Long-Term Scenarios:
Bullish Scenario:
A breakout above 202.51 will initiate a new bullish phase, targeting 226.00 as the first bullish milestone.
Bearish Scenario:
Breaking below the support zone between 169.70 and 159.00 will lead to a drop towards 141.84 and potentially 126.00.
Pivot Price: 179.20
Resistance Price: 192.72, 202.51, 226.42
Support Line: 169.70, 158.50, 142.50
The Movement range will be between Resistance 19272 and Support 169.70
Bearish divergence in SOLUSDA bearish divergence is observed in SOLUSD pair in 4-hours timeframe. Previous bullish trend is reversed as new HL and LL have formed. This can be a good place to shorting.
Solana SOLUSD appears ready to reverse SHORTThis is a 33-40% swing trade short crypto SOLUSD. The idea is on the daily chart.
Solana / U.S Dollar_ Prices_ For_ Quarter 2 & 3_ Under _ TradingSolana / U.S Dollar_ Prices_ For_ Quarter 2 & 3_ Under _ Trading _ Venue _ Coinbase.
Let's breakdown the next prices for Quarter 3.
Quarter 2, 2024 Distribution price: $192.96, It may also touch, $200.22
From here market will take few weeks break then expecting the following distribution prices, ( Do expect little turbulent during the Descending period)
Quarter 3, Distribution prices:
$220.22
$225.96
$234.87
$240.18
$252.37
$255.69
Stronger SOL w new support @167 looking primed for big moves!BTC has changed dance partners from ETH to SOL..A clear shift where SOL is outperforming both ETH and BTC on big moves is a deft dance In the latest surge a few days ago SOL hopped around 165- 167 on the way to 175. Today while BTC has dipped to its new strong bounce area around 66100 SOL is bouncing faster around 167 again currently to170. We may consolidate down a little but if SOL can maintain this new support a jump to 180-190 in prep, a leap to 200 again will be imminent. Either way it is only a matter of time. And as always SOL and BTC will go together taking turns leading.
Potential bullish rise?SOL/USD has just bounced off the support level which is an overlap support and could rise from this level to our take profit.
Entry: 174.98
Why we like it:
There is an overlap support level.
Stop loss: 167.65
Why we like it:
There is a pullback support level which aligns with the 38.2% Fibonacci retracement.
Take profit: 188.92
Why we like it:
There is a pullback resistance.
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Solusd buyReacting at mitigation line, reacting at the 61.8 fib level, order book is balanced which signals bullish movement, breakout to the outside, bullish market structure with a higher low a d higher high
Solana at a Pivotal AreaWith respect to Solana I'll say two things. First, and probably in jest, I had no idea Venezuela was important to crypto mining. lol. (reference to the news why crypto rallied yesterday). Second, I am still awaiting signs that price has the intention to follow the purple alternative path. The attached Daily chart shows there is a full count to the upside complete with alternating 2's and 4's. Granted this does not preclude price from subdividing in a manner that extends the previous trend, but in those cases, we should see clear evidence of such.
As of this morning, CLEAR, would not be a word I would use to describe the current pattern. C-wave is, however the label I would so far characterise as this current pattern. However, if price can rally into the $194 area, and hold the $179 area on any retrace, and then rally for OMH towards the recent highs I can become open to price moving higher.
In lieu of that sort of price action playing out I await clues that price is completing it's minor B wave.
SOLUSDT- in Bullish TrendAfter posting recent high of 210.18, SOLUSD was under downward trend line. After making double bottom formation and bullish divergence at 4hr and 1 hr time frame, the instrument gave breakout of downward trend line and triangle pattern. After testing back the trend line, it is expected that bulls will get strength.
Entry :149.25
TP-1: 180.78
TP-2: 201.50
SL: 125.50
SOL ANALYSIS ABCMy previous analysis assuming $60 turned out to be wrong and $80 was reached instead. The waves turned out to be true, but the volume was wrong.
Many other analyzes say a further rise, I don't think that SOL will behave in the opposite way.
Solana Surges in Profitability, Outpacing Ethereum for the FirstIn a significant development for the cryptocurrency landscape, Solana (SOL) has emerged as a more economically profitable blockchain than Ethereum (ETH) for the first time ever. This news comes amidst a strong year for SOL, which has significantly outperformed Ethereum in terms of price gains as well.
Solana's Profitability Milestone
On-chain analyst Leon Waidmann reported this milestone, highlighting a chart that depicts the total economic value (TEV) of both Solana and Ethereum over a specific period. TEV considers transaction fees and Maximum Extractable Value (MEV) to determine the overall economic profitability of a blockchain. This suggests that Solana's network activity is currently generating more economic value for its validators compared to Ethereum.
This newfound profitability is likely due to Solana's key advantage: its blazing-fast transaction speeds and significantly lower fees compared to Ethereum. These factors have attracted a surge in user activity on the Solana blockchain, leading to a rise in transaction fees and MEV.
Ethereum's Challenges
Ethereum, the dominant smart contract platform, has been plagued by scalability issues for some time. The network often experiences congestion, resulting in high gas fees that can deter users and developers. While Ethereum is undergoing upgrades to address these issues, the process is ongoing.
Solana's Price Performance
Solana's economic momentum translates well to its price performance in 2024. SOL has significantly outpaced Ethereum in terms of returns year-to-date. As of May 20, 2024, Ethereum has delivered a respectable 31.5% return for investors. However, Solana has surged by an impressive 61.5%, currently trading comfortably above the $160 support level.
This price surge reflects growing investor confidence in Solana's potential. The faster transaction speeds and lower fees make Solana a more attractive platform for developers to build decentralized applications (dApps) upon. Additionally, the increasing adoption of DeFi (decentralized finance) protocols on Solana further fuels its growth.
Looking Ahead
Solana's newfound profitability and strong price performance mark a significant development in the ongoing competition within the blockchain space. While Ethereum remains the industry leader in terms of market capitalization and established dApps, Solana poses a serious challenge with its superior scalability and lower costs.
The coming months will be crucial in determining the long-term trajectory of both platforms. Ethereum's success hinges on the successful implementation of its planned upgrades. Conversely, Solana will need to maintain its network stability and attract a wider range of high-quality dApps to solidify its position.
Investor Considerations
The recent developments highlight the importance of considering both economic factors and price performance when evaluating cryptocurrencies. While Ethereum boasts a larger ecosystem, Solana's recent surge in profitability suggests it could be a more lucrative investment for validators.
Investors with a long-term perspective should consider the potential of each platform to overcome its current challenges. Ethereum's established network may prove more resilient in the long run, while Solana's faster and cheaper transactions could attract a broader user base. Ultimately, diversification across these leading blockchains might be a prudent strategy for investors seeking exposure to the ever-evolving cryptocurrency landscape.
Solana summer is on the horizon Solana price action is looking very similar to the previous months before it ran to new highs. I think solana summer is approaching very quickly.
COINBASE:SOLUSD
Bullish for SOLSince 2024 started SOL has been forming what seems to be a megaphone pattern while also respectively following the FIB layout as well. If this week closes and continues to rise above the current FIB level on the weekly chart, I am predicting it could run to around 280 if not to the next FIB level. This is not financial advice and as always, DYOR.
Solana's Explosive Surge: Is $236 the Next Stop?Solana (SOL) has been showing significant bullish momentum, currently trading at $171.51 with a notable increase of 1.23% intraday. The asset's market cap stands at $77.04 billion with a 24-hour trading volume of $2.65 billion. The price action and technical indicators suggest strong bullish trends with potential for further gains.
Price Action and Trend Analysis
Over the past week, Solana has demonstrated a robust performance with a 17.48% increase. The price has been oscillating within a range of $168.74 to $176.00 in the past day, indicating healthy volatility. The chart patterns reveal higher highs and higher lows, signifying a well-established uptrend.
Ichimoku Cloud Analysis
The Ichimoku Cloud indicates a bullish sentiment as the price is above the Kumo (cloud), with a significant distance from the baseline (Kijun-sen) at $147.40. The Leading Span A and B also indicate support levels are well below the current price, providing a strong safety net for bullish positions.
Price Targets and Trade Strategy
Given the current technical setup, the immediate price target for Solana is $181.68 (R1). Should the bullish momentum continue, the secondary target extends to $236.63 (R2).
Long Position:
Entry Point: Enter a long position at the current price level around $171.51.
Stop Loss: Set a stop loss slightly below the 50-day EMA at $150.00 to minimize downside risk.
Take Profit: Aim for the first resistance level at $181.68 and extend to $236.63 for a more aggressive target.
Short Position:
Entry Point: Consider shorting if the price drops below the pivot point at $149.33.
Stop Loss: Place a stop loss at $155.00.
Take Profit: Target $94.38 (S1) for a conservative approach.
Solana exhibits strong bullish tendencies with solid support from technical indicators and moving averages. The current trend suggests potential for further upside, making it an attractive candidate for long positions. However, traders should remain vigilant and use tight stop losses to manage risk, especially if the price approaches key resistance levels. As always, continuous monitoring of market conditions and news is essential to adjust strategies accordingly.
Solana Price Spikes With Analyst Sighting $200 As Next PivotSolana's price surge to $173 has sparked optimism among investors, with experts hinting at a potential rise to $200. The surge is driven by positive sentiment and upcoming upgrades, such as the Frankendancer upgrade. Syncracy Capital's co-founder Daniel Cheung expressed confidence in Solana's strength, highlighting its potential to reclaim $200. He also highlighted the potential for Solana ( CRYPTOCAP:SOL ) to reach $200 by the end of the month, a significant reversal in the monthly timeframe and readiness for new highs.
As anticipation builds, Solana ( CRYPTOCAP:SOL ) remains a key focal point in the cryptocurrency market, with prominent players in the digital asset space attracted for its potential to reach new highs. BitMEX co-founder Arthur Hayes shared the Solana ( CRYPTOCAP:SOL ) price chart and advocated for accumulating the crypto in a blog post from early May.
As of writing, Solana's price soared 3.01% to hit $173.25, after reaching a 24-hour high of $174.16. Despite the rally, its trading volume fell 25% to $2.71 billion, and the Solana Futures Open Interest soared 4.91% to $2.32 billion, suggesting a bullish sentiment in the market.
The asset has a Relative Strength Index (RSI) of 63.97 which is moderately overbought.
💰 #Solana Monthly Timeframe 🟢Fixation above the Key Zone 🟢💰 #Solana Monthly Timeframe
🟢Fixation above the Key Zone
🟢Massive Rounding Bottom
Neckline of the Rounding Bottom is about to be broken soon imo🚀
Solana AnaysisSolana Analysis
1. Price is in Accumulation area
2. Every Pullback can give a reason to Accumulate
3. BO of Resistance can give decent returns
