SOLWETH_2AF65C.USD trade ideas
SOL Potential Further DownsideSOL is currently exhibiting signs of bearish continuation after failing to break above key resistance. We see a possible double bottom forming around the current price level, indicating a potential test of support at $115.
Price action has been consolidating after a recent decline, potentially forming a double bottom pattern.
Fibonacci retracement levels (not shown, but recommended to add to your chart) suggest a measured downside target near $115.
The failure to break above resistance indicates continued weakness in the market.
Risk/Reward:
The potential reward-to-risk ratio favors a short position, with a target of $115 and a stop-loss placed slightly above the recent resistance level.
Then hey, if we're lucky, up to $340.
SOLANA (SOL)$SOLANA is getting ready for another bullish leg, It's showing a reversal pattern and I'm positive in the next few weeks we will see an incredibly bullish move
Momentum still looking bullish. Mapped upside targetsMomentum still looking bullish.
We are approaching the resistance area of $162 which is a confluence resistance area with the 50 day moving average.
RSI trending upwards.
Stochastic RSI bullish crossover
Bollinger bands squeezing indicating a big imminent move and most likely upwards
We have mapped out two predicted upside targets, in yellow and purple bars.
SolanaHello to all dear traders.
I am happy to be here and analyze cryptocurrencies for you. Based on my analysis, Solana looks like it needs further correction after the new price ceiling is fixed. The currency will move higher to reach the approximate price range of $200, due to the need to attract liquidity. Like Bitcoin, this currency will probably experience weekly and daily correction. After these corrections, Solana will decide whether to move up or down. With thanks for your attention.
#Smart money concept
#liquidity
#hunter
Solana/ U.S. Dollar _Under_ Trading _ Venue_ Coinbase: Solana/ U.S. Dollar _Under_ Trading _ Venue_ Coinbase:
Once Retest is completed we will expect he following prices! Red area require a correct retest as a fake retest over the 3rd of May that supported over 30th of April!
Should take 2 days for the Retest!
If lower retest is not done then following strategy must be applied:
(1) Prices require to confirmed above day 7 ( week 1)
(2) Retest must hold within the key level of $154.69
(3) Further support confirmation over 8th, May. Then it's good for breakout and higher as below!
Prices already confirmed as follow:
New support over week 1= $160.20
$162.66
$163.83
$164.93
$165.69
$166.79
$167.14
We are close to resistance area. Downwards now 😱 How to play ⏯️ Solana strategy in the current range?
Short at resistance
Right now we are approaching the resistance area of $162 which is a confluence resistance area with the 50 day moving average.
Latest candle upside wick almost touched it and went down.
Time to short into the resistance area
Will you be shorting?
Solana Price surged 5% Despite Whale Activities Solana ( CRYPTOCAP:SOL ), a cryptocurrency, has experienced a 5% increase in value today, driven by significant on-chain activity and ecosystem growth. The market cap is down by 1%, but Solana's price has risen by 5.5% to $153, with a $69 billion market cap and a $3.2 billion 24-hour trading volume. The central driver behind Solana's recent success is its overtaken Ethereum in 24-hour on-chain trading volume, indicating growing interest in Solana's ecosystem.
Solana consistently outperformed Ethereum in on-chain volume as it advanced toward its local highs in Q1 2024, but activity dropped in recent weeks. However, new data suggests momentum is returning, enabling today's strong performance.
SOL has been displaying strength against Ethereum, with PaikCapital speculating that it could continue to outperform the second-largest cryptocurrency. Since then, SOL's value has increased over 3x compared to ETH's. Santiago R Santos, a renowned commentator, believes that Solana is the most retail-friendly chain, making memes should do well.
As the SOL price increases, holders will take profits and rotate into smaller on-chain projects, vying to compound their gains. One of the hottest new Solana tokens is Sealana, a seal-themed meme coin that has raised over $250K so far. High-profile industry figures are also bullish, with Jacob Bury speculating that Sealana holds 10x potential and could be the "best crypto to buy now."
Sealana is inspired by the foul-mouthed cartoon show South Park, reflecting a bright future for the new token. However, the Sealana presale has no predetermined hard cap, so potential investors must act quickly or risk missing out.
Whale Alert, a platform tracking large crypto transactions, reported four significant transfers of Solana (SOL), igniting speculations in the crypto sphere. In the latest transaction, an unidentified whale transferred 298,000 SOL, valued at approximately $46.24 million, to Coinbase. Following that, another anonymous whale moved a staggering 1.56 million SOL, equivalent to around $242.26 million, to the same exchange.
Speculations over the impact on Solana's price have ignited speculations regarding the motives behind these transactions and their implications for the broader market. Despite the massive transfers, the Solana price has maintained upward momentum today, with the Solana price up 4.55% and trading volume soared 79.72% to $3.14 billion.
Solana (SOL) Finds Support, Eyes Return to $203
The cryptocurrency market has seen its share of volatility recently, and Solana (SOL) has been no exception. However, when we zoom out and take a look at the weekly timeframe, a clearer picture emerges. This article dives into SOL's recent price action and explores the potential for its next move.
Solid Support at $149
A crucial observation from the weekly chart is the strong support level established at $149. Despite price fluctuations, SOL has managed to hold above this key area, even during periods where the price dipped momentarily below. This indicates significant buying pressure at this level, suggesting that many market participants view $149 as an attractive entry point.
Range Bound
The consistent bounce off the $149 support has led to the formation of a range between this level and $203. This price range reflects a period of consolidation, where buyers and sellers are temporarily reaching an equilibrium. The price action within this range suggests some indecision in the market, with neither bulls nor bears able to exert dominance.
Looking Ahead: Potential Move to the Upside
Given the presence of the established support level at $149, and the recent price holding within the defined range, there's a possibility that SOL might attempt a move back towards the upper range boundary of $203 in the coming days or weeks. This potential upswing could be fueled by several factors:
• Increased Buying Pressure: If more buyers are attracted to SOL, particularly at current levels, it could push the price higher. This buying pressure could stem from renewed confidence in the Solana project, positive news developments, or simply technical factors related to the range itself.
• Short Squeeze: If a significant number of traders are currently shorting SOL (i.e., betting on the price to decrease), a sudden shift in sentiment could lead to a short squeeze. This occurs when shorts are forced to buy back SOL to cover their positions, which can drive the price up rapidly.
• Overall Market Sentiment: The broader cryptocurrency market sentiment also plays a role in SOL's price movement. If the overall market sentiment turns bullish, it could lift all cryptocurrencies, including SOL.
Important Caveats
While the potential for a move towards $203 exists, it's important to consider some factors that could prevent this from happening:
• Failure to Hold Support: If the price breaks decisively below the $149 support level, it could signal a bearish trend and lead to further price decline.
• Negative News or Events: Any negative news surrounding the Solana project or the cryptocurrency market as a whole could dampen investor sentiment and hinder a price increase.
• Resistance at $203: Even if SOL reaches $203, it might face resistance at this level. Overcoming this resistance would require sufficient buying pressure to push the price through.
Conclusion
Solana (SOL) has found support at $149 and is currently trading within a range between $149 and $203. The coming days and weeks could see SOL attempt to move back towards the upper end of this range, potentially reaching $203. However, several factors could influence this possibility, and close attention should be paid to market sentiment, news developments, and price action around the support and resistance levels.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. It's crucial to conduct your own research before making any investment decisions.
Solana breaking trendlineSolana looks like it's breaking the upward trendline.
4H chart indicates it's in a overall downtrend and bouncing right now from the 200 EMA
Will be shorting now with SL above the previous high $150 and TP at the lowest DEMAND ZONE
Solana - $700+ EW Macro Target 2024- EWP Wave 5 impulse to start in coming days/weeks.
- Target is 700USD+ before YE'24
- Global liquidity is forming a contracting falling wedge pattern, expected to break to upside in coming days/weeks, supporting upside volatility in risk assets.
UPDATE WITH CORRECTION of higher high and higher low sol/usd in trendline and fib retracement highrt high and higher low
solana /usd entry limit with fib retracement sol/usd buy limit at 143 confirmed with entry on fib retracement 0.38
solana higher high higher low as in dow theoryentry price ,stop loss and lot size in solana /usd in trending market according to doiw theory
Sell Solana This idea uses elliott waves . Also it is wykoff pattern in smaller timeframes
Use risk managment . Buy from bottom is better than sell now
SOLUSD Reversal pattern identified."Solusd looks poised for a downturn in this final higher high (HH), with RSI showing bearish divergence and a rising wedge pattern forming. 📉 Placing a sell stop order at the recent higher low (HL), setting SL at the recent HH, and TP with a 1:1 risk-reward ratio. TP2 targets the rising wedge's end. 🎯 This strategy follows technical analysis and risk management principles."
Solana daily chart break out 👀 Price target near $162Solana daily chart break out 👀 Price target near $162
Right now we have a breakout from the red downward sloping trendline.
Next up resistance zone and 50 day moving average
Will you Short at resistance?
Shorting SOL... AGAIN!!!If I see a red candle closing below the supply zone, I will be shorting till the demand zone
TP 137
SL will be above the highest wick above the supply zone, and then trail it down as we go
Solana, support levelsSolana formed a descending triangle pattern and has touched the support level.
If this support is strong enough to withstand bearish movements, then the target is at level 144.83 or at the resistance pattern.
However, you need to remember that this pattern is a bearish continuation pattern, which means that if this pattern breaks down, Solana will fall deeper.
I will update this analysis if I find new key levels.
Shorting SolanaGot the red candle I was waiting for, now I'm opening a short with a tight SL and TP at demand zone
SL $142
TP $131
Let's see how it goes 👀
