$407 Solana by July 2024? Using this Cypher pattern we could potentially be seeing a $400 solana by this July 2024.
SOLWETH_2AF65C.USD trade ideas
Solana's Growing Prowess: The Surge in Open Interest (OI)Solana's recent surge in price has garnered substantial attention from investors and analysts, signaling a potential shift in market dynamics. The rise in value comes amidst heightened volatility and speculation within the cryptocurrency space, further emphasizing Solana's resilience and attractiveness as an investment option.
The current price of Solana ( CRYPTOCAP:SOL ) stands at $195.72 USD, with a significant trading volume of USD 3.5 Billion in the last 24 hours, solidifying its position as a major player in the cryptocurrency market, ranked Number 5 on CoinMarketCap. With a live market cap of $86.8 Billion and a circulating supply of 444,409,630 SOL coins, Solana continues to exhibit strong liquidity and investor interest.
At the core of Solana's success lies its high-performance blockchain, renowned for its unparalleled speed and efficiency. By leveraging a hybrid consensus model that combines proof-of-history (PoH) and proof-of-stake (PoS), Solana ( CRYPTOCAP:SOL ) has overcome scalability challenges faced by other blockchains, paving the way for seamless transactions and decentralized applications. This innovative approach to consensus mechanisms sets Solana apart, positioning it as a leader in the rapidly evolving blockchain landscape.
Despite a market correction, Solana's price trajectory remains resilient, characterized by a Bullish Relative Strength Index (RSI) of 65.21 consolidation pattern and bullish indicators. With potential price targets of $210 and USD 240, Solana demonstrates strong upward momentum, supported by favorable market conditions and investor sentiment. This trajectory not only reflects the inherent strength of Solana's technology but also underscores its potential for sustained growth in the foreseeable future.
The Solana ( CRYPTOCAP:SOL ) ecosystem has experienced notable developments in recent times, further solidifying its position as a vibrant and innovative blockchain platform. These developments reflect a growing trend of adoption and expansion within the Solana community, driven by a shared vision of decentralization and scalability.
Solana's decentralized exchange platforms, such as Raydium and Jupiter token, have witnessed significant price jumps in response to increasing market demand and liquidity. Raydium, currently priced at $2.26 USD, and Jupiter token, priced at $1.51 USD, exemplify the dynamic nature of the Solana ecosystem. With Raydium boasting a market cap of $588 Million and Jupiter token commanding a market cap of $2 Billion, both projects demonstrate substantial market traction and investor confidence.
The resurgence of Solana-based meme coins, exemplified by projects like SEED_DONKEYDAN_MARKET_CAP:BONK and CRYPTOCAP:WIF , highlights the diverse and dynamic nature of the Solana ( CRYPTOCAP:SOL ) ecosystem. As these meme coins garner attention and traction among investors, they contribute to the overall vibrancy and innovation within the Solana community, where creativity and experimentation thrive alongside technological advancement.
Solana Open Interest (OI) has surged by 7.86% to reach $2.6 billion, demonstrating growing confidence in Solana's market potential and ecosystem development, as investors seek exposure to the platform's innovative technology and expanding use cases.
Leading cryptocurrency exchanges, such as Binance and Bybit, have recorded high levels of open interest for Solana ( CRYPTOCAP:SOL ), with figures reaching $1.3 billion and $745.2 million USD, respectively. This influx of institutional and retail interest further validates Solana's position as a premier blockchain platform, capable of supporting diverse financial instruments and applications.
SOLANA will it break all time high ? the idea is to SOL have a correction level on the levels of 184-185 then have a pull back and acceleration to the 200-209 level and from there to the ATH
SOLUSD-SELL WEEKLY CHARTIt appears to stay behind the others in terms of correction. Excellent opportunity seeing hammers, doji's etc and above Keltner, suggest a decline is likely, is my personal view. we have negative divergence as well with much lower highs and higher highs now with lower high RSI. The GANN lines also suggest we will correct.
Strategy SELL current @ $ 190-200 and take profit @ 135.00 for now. SL is a finanvcial question, but suggesting @ 225 for now.
SOLANA Will it hit $155 or $310 first?Solana (SOLUSD) is trading within a Triangle pattern within a longer term Channel Up on the 1D time-frame. The 1D MA50 (blue trend-line) has been basically supporting since late September 2023 (it only broke once for 4 days in late January 2024) when the previous similar Channel Up started.
That Channel Up also formed a Triangle half-way through and when the price broke to the upside, it peaked on its 1.5 Fibonacci extension. As a result, we will buy in case a similar bullish break-out takes place and target $310. If the Triangle breaks to the downside first though, we will short and target the 1D MA50 at $155.
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Unpopular Opinion: SOLANA: 10 to 100k...Here's another unpopular opinion...
We can see that we had a clear 5 wave impulse for wave 1. We are now in wave 2, which is an ABC correction. We're looking for one final move down to complete wave 2 correction.
It may happen, may not happen. If it happens, you know what to look for!
For confirmation that we're moving towards the $10 mark, we can look for the break of the red trendline.
See below to see where we are in the Elliott Wave schematic.
What do you guys think?
Goodluck and as always, trade safe!
$SOL SOLANASolana in the 4Hour chart is showing a bullish pennant flag and a very tight squeeze. My sentiment would be a rip to the upside. DYR/NFA
SOL wedgeCRYPTOCAP:SOL is in a wedge. Once a breakout occurs we can take action.
Keeping a close eye on this one.
On of the strongest alts in the last couple of weeks.
SOLUSDT - in Bullish trendSOLUSDT making HH and HL, we are going to LONG at HL and targeting next HH
Simmetric triangle SOLANAIt seems SOLANA is close to breakout a simmetric triangle that has been consolidating after a bullish trend.
If the breakout happens to be above the resistance, the target price could be 240$
SOL : Looking In berish trend in 1 hourSol Looking bearish in 1 hour as this is making HH, HL, and LH and LL,
solana analyse*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
SOL - Brave Bearish AttemptSOL is currently trading near its LH and fter formtion of bearish candle )tweezer top followed by red candle) a risky trade can be taken with entry price of 187 and stoploss @ 193
SOL To short only 1 to 4 hours tradeSOL Making LH and LL in 1 hour candle, i believe that it can give you profit in short term if you follow my strategy which i have provided in the chart.
SOLUSD GOOD AREA TO SELL 1HAs we can see market came to test important area and looks like its rejected
If we close this 1H below 194 i will take this sell and target 145.38
Will take profit along the way, will update wile doing so
Thanks for stop by
SOL Taking the corrective swing structure from 210.14 -162.39 we are approaching the golden pocket. We are sitting above the Icho cloud on a 4 hr time frame which lets me lean on the long side of the trade atm. Will not be surprised if we see a move to 176.57 which allow falls in place with the 100 ema.
SOL RIDE - Where we have been and where we are going!I am amazed how people are calling for massive SOL drops randomly without basis....
Back up - Look at the SOL history - NOT JUST PRICE - Fading SOL is a big mistake! SOL is not a mere MEME coin. This is a Facilitator Protocol that supports a whole universe of activity. SOL began with high valuation BECAUSE it seemed like a game changer that would make things 10,000 times faster - RIGHT OUT OF THE GATE!
Solana Labs has DELIVERED and the SOL universe continues to GROW. If SOL were a tree in the rain forrest it would be a massive ecosystem unto itself. HOWEVER - SOL like every single asset REAL or NOT in Crypto FOLLOWS BTC price action. Historically - When BTC went to 69k, SOL hit it's ATH of 260. A month before FTX scandal went mainstream Crypto Rumors sent BTC down to 15900 and SOL went down to 8.90! And now look where we are and where we are going ........ 🚀🛸🚀 right along with BTC and really - beyond!
But SOLANA team only got more focused and stronger. I got into Crypto Space back then after watching on sidelines for some time. I was very impressed by the resiliency I was hearing from these Devs at SOLANA who were on the total brink of collapse. They were undeterred in their mission and conviction. Now we are seeing some of the fruits of their work and we are enjoying super fast super cheap trading across platforms and exciting developments in pipeline that might compete with IG and Facebook and ZOOM - on SOLANA chain.
Look at history. Look at the REASON why the thing exists. Retracements and Corrections happen, but SOLANA will not fall all of the sudden on it's own without a black swan or a BITCOIN major Fail. IF the crypto industry flourishes - SOLANA will continue to be a diamond. If this happens Price will likely be 1000-2000 or more next few years and SOL will compete and maybe eclipse ETH. For sure the competition will make them and other spaces better.
STOP FUDDING SOL WITH NO BASIS! Study !
FOR SOME OF THE SOL HISTORY I rec this little timeline - timepath.org Happy Trading!
SOL:: Stay positive There is no reason to turn bearish on SOL. Price action is now consolidating and ready for the next push. Price is now trading on support (185) and could rebound from here. Even better for the mid-term bullishness would be a test of the 50 and the 100 SMA, which are just below. This would give the tailwind to push through what has been a short-term resistance (195).
Sol/Usd SOLANA Hello traders and investor!
In my opinion, Solana should make a price reassessment of $57 and then wait for the increase to $217. I think the best price to buy should be 57 dollars. Be careful!
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Solana retracement Solana Fibonacci retracement levels have setup massive gains this month. Will the trend continue into April? CRYPTOCAP:SOL Fib .786 buy
BTC needs to be healthy.
Price target solana 220
SOLUSD Neutral Outlook CRYPTOCAP:SOL is at a unique point in its recent breakout. As you can see with the blue lines we broke out of a bull flag recently. This move has since shown higher lows and higher highs being put in. The yellow line is the current uptrend and unless it is invalidated this may be a good entry for the bulls. Otherwise the bears can look for their opportunity when the yellow trend line is broken and we push lower.
As always manage your risk and ask questions!!
Potential Top Coming?This is a little conflicting because I have other counts showing things in wave 3/4 still - so there is a chance I'm wrong here and we're putting in a wave 3 top and we dive off there then have 1 more high left which will put in the cycle top sometime the middle of this year, besides all that there is a very real possibility this count is correct and we're approaching a final top sooner than people think.
