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SOL / Wrapped Ether on Polygon (0x2af65c6744d0edb1539ebf177f6e48b35001b44b) in USD

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SOLWETH_2AF65C.USD trade ideas

#SOL_USDI spot key support around $10 if wave 2 brings some upside relief. But ultimately my fib projections point to another gut-wrenching plunge to tag the $5 area before this nasty bear shuts its jaws. If my cryptography proves correct, the next bull run could take Solana up 10x from those lows! Join me crypto cowboys and cowgirls! Smash those like and subscribe buttons for more money making insights and analysis. Just remember this bear won't last forever. We'll be riding the bull again soon enough! #Solana #Crypto #ElliottWave #TechnicalAnalysis #BearMarket
CRYPTO:SOLUSDShort
by Mr16K
13
Solana (SOLUSD) Potential Bullish ContinuationSOLUSD Potential Bullish Continuation Following Falling Wedge Formation A substantial falling wedge pattern has emerged on the chart, a pattern typically associated with bullish continuation. Price movements have converged within the wedge's upper and lower trendlines, suggesting a potential accumulation of buying pressure, possibly indicating the end of the correction. The recent bounce from the EMA200, in alignment with the 0.382 Fibonacci retracement level, adds further support to the potential bullish continuation scenario. Currently, the price is moving between the EMA50 and EMA200, indicating potential consolidation before a breakout. Key Levels: Support: EMA200 (Green line) - A breach below this level may invalidate the bullish pattern. 0.382 Fibonacci retracement level (approximately $102.37) - A break below could signal further downward potential within the Support levels area. Resistance: Upper trendline of the falling wedge (blue line) - A breakout above this line could validate the bullish reversal, signaling potential upward movement toward the wedge's apex within the resistance levels area. Trading Bias: Bullish with Caution: While technical indicators and the pattern suggest a potential upside, confirmation is crucial before initiating a trade. Trading Strategy: Consider waiting for a breakout above the upper trendline of the falling wedge to confirm the bullish continuation before entering a long position. Alternatively, a conservative approach involves waiting for the price to close and consolidate above the EMA50 to mitigate the risk of a false breakout. Happy New Year from Manolis
COINBASE:SOLUSD
by MANOLIS
3
An Opportunity for Buyers as DEX Volume Skyrockets Fuel Growth Are you ready to ride the wave of Solana's remarkable resurgence in the world of decentralized finance (DeFi)? Recent developments on the Solana network paint a compelling picture for potential investors, signaling a golden opportunity to capitalize on the platform's thriving ecosystem. 1. Explosive Growth in DEX Volume: Solana's largest decentralized exchanges have witnessed an astounding tenfold increase in liquidity since October 17. According to Dune Analytics and DeFiLlama data, December's decentralized exchange (DEX) volume on Solana has surpassed the previous monthly high, nearly tripling the figures from November. This surge comes hot on the heels of two substantial airdrops, with another one looming on the horizon. 2. Closing the Gap with Ethereum: Solana, once seen as a distant contender, is now narrowing the gap with DeFi's mainstay, Ethereum. December saw Solana's DEXs outpacing Ethereum's in certain week-long periods, a significant feat considering Ethereum's historical dominance. In the past seven days alone, Solana's DEX volume surged by 26% to approximately $5.8 billion, positioning itself as a formidable player alongside Ethereum. 3. Airdrops as Catalysts for Growth: The recent success of Solana's DeFi can be attributed in part to sizable token airdrops from prominent protocols like Pyth and Jito. These airdrops, amounting to millions of dollars, injected vitality into the ecosystem, resembling DeFi's equivalent of stimulus checks. Jito, in particular, faced challenges from sybil abusers, leading to the implementation of robust anti-sybil measures to ensure fair distribution. 4. Jupiter Aggregator's Role: A significant portion of Solana's recent DEX trading volume flowed through the Jupiter aggregator, emphasizing its crucial role in optimizing prices with minimal slippage. Notably, Jupiter has announced its plans to launch its token, with 40% earmarked for a community airdrop. This move aligns with a proven strategy, as seen in Ethereum's DEX volume growth following a Uniswap airdrop in September 2020. 5. Liquid Staking and Recent Developments: While DEX interest soared, liquid staking on Solana experienced a temporary slowdown. A Dune Analytics dashboard indicates a slight decrease in the total amount of Solana staked in the past week. Jito, the second-largest liquid staking protocol, witnessed five straight days of cumulative outflows, suggesting a shift in investor behavior. In conclusion, Solana's DeFi ecosystem is not only rebounding but thriving, presenting a compelling opportunity for potential buyers. The combination of surging DEX volume, successful airdrops, and strategic initiatives like the Jupiter aggregator and upcoming token launch makes Solana a dynamic force in the ever-evolving world of decentralized finance.
COINBASE:SOLUSDLong
by DEXWireNews
Solana Is the Fourth Largest Cryptocurrency by Capitalisation.Solana Is the Fourth Largest Cryptocurrency by Capitalisation. But for How Long? 2023 turned out to be a good year for cryptocurrencies, especially given the depressing mood that reigned at the end of 2022. From the beginning of 2023: → Bitcoin increased in price by more than 150% – including due to rumours related to the approval of applications for a Bitcoin ETF; → Ethereum rose by approximately 85%. But what has been particularly impressive is the progress made by the Solana project. This is a decentralised blockchain platform, which is characterised by high speed and scalability — they are achieved through the use of a unique architecture based on the Proof-of-History (PoH) protocol. In 2023, Solana became the first blockchain platform to reach 50,000 transactions per second. And a number of large investment funds, such as Grayscale and CoinShares, have added SOL to their portfolios. SOL is a token that is used to pay for transactions and services on the Solana platform. It can also be used for staking to help support the network. The SOL/USD rate in 2023 has increased by more than 1000%! At the same time, SOL now ranks 4th in terms of capitalisation of cryptocurrencies — after BTC, ETH, and the USDT stablecoin. December was the month when the price of the SOL token exceeded the psychological level of USD 100 for the first time since April 2022 (the historical high reached in the fall of 2021 exceeds the USD 250 level for SOL). But will the price be able to stay above USD 100? The 4-hour chart on the FXOpen TickTrader platform shows that: → the price broke through the USD 100 level, but did not test it; → the price broke through the level of USD 110, which confirmed its role as support; → the price reached the upper limit of the ascending channel, which began in early November. At the same time, the chart shows bearish signs: → the price sharply reversed from the upper border of the channel on the last closed candle; → divergences formed on the RSI indicator. In such a situation, you should be prepared for a scenario in which the SOL/USD price may fall — for example, to test the USD 100 level. In this case, the market can be supported by the median line of the channel. At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules, respectively. They are not available for trading by Retail clients. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Editors' picks
COINBASE:SOLUSD
by FXOpen
17
Solana to $5On the above 2-day chart price action has rallied 23000% in the last 18 months since the buy signal. Yes 1 Bitcoin becomes 90 Bitcoin. Amazing. A number of reasons now exist to be short, including: 1) The ‘incredible sell’ signal around $200. I recall seeing it but never published before now. 2) Broken market structure. 3) Everything said above is also true for the BTC pair (below). Therefore, no, Bitcoin does not need to crash to $3k for Solana to drop to $5k. 4) The number of trading view ideas that are long is well over 90%. Sigh. 5) Why $5? That’s for me to know. Let’s just say it was the same approach that allowed me to call ADA to 80 cents from $3 and ADA to 50 cents from $1.30. Is it possible price action starts a new uptrend? For sure. Is it probable? What after a 23000% rally? A big fat no. Yes it might 2x from current levels but it's printing lower highs, it is in downtrend. Start your short positions from market structure @ $80 to $90 area. Trade if void if price action breaks the last high @ $130 and prints support. Good luck! WW 2-day BTC pair
BINANCE:SOLUSDShort
by without_worries
107
Solana Liquidity Event - The Beginning of the End 📉Everyone's excited about the "pump" of CRYPTOCAP:SOL right now but objectively speaking, this isn't a growth spurt where outside money is coming in - did people already forget that its high was $250 back 22'? So we do know that the same folks who got caught lying on their term sheets and fabricating data are still there on the core team. Not to mention the outages earlier in the year...which should not happen to any blockchain, no matter what. This is not something that happens to legitimate chains - it did not happen on CRYPTOCAP:BTC , CRYPTOCAP:ETH , CRYPTOCAP:DOGE , $XTZ - not even once. A blockchain that "fails" is not a blockchain at all, you could argue. Well, I have a new theory of what's actually going on right now - their phone didn't sell this whole year and they were in dire straights, so they used $BONK to sell off their inventory and the core team is trying to cut their losses and is getting read to exit the space completely. It's what you call a "liquidation event" right before a company goes under - normally this is harder to detect because crypto doesn't usually have a physical product but they way that they got rid of all their phones in a big hurry actually made the pattern easier to see. So this "pump" is less about organic growth but the industry cannibalizing each other in desperation - even the Shiba mascots aren't cute enough to distract us from how gross it is, really. 🧟🧟‍♀️🧟‍♂️ The target dates to pay attention to are Christmas -> New Years - the phones themselves has "sold out" so it has officially hit its peak a few days ago. If people got the phones as gifts or presents then they should be some movement in $BONK soon and we'll start to see the whole thing unravel. Happy Holidays and New Years everyone!🎅🎄
COINBASE:SOLUSD
by RyanTanaka
28