SOLUSD.P trade ideas
The Great Wall of SOLSolana has held strong at around 129 since March of 2024 when it rose to 220. Right now, exactly 10 days before Breakpoint this is looking like a descending wedge pattern ripe for a massive pump beyond previous highs. I am extremely disappointed Crypto was not mentioned in IS Prez debate but perhaps it is for the better. Let the politicians keep chasing Crypto so this space can dictate more policy. Go Solana!
Is there enough juice for SOL?SOL trades around $132, just above 4HR 50MA, however, failing to stay above $135. If price stays within the current range and reclaims $135, that could be bullish. Otherwise, assuming the move to $135 was a fakeout, SOL could head back to $120.
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Classical analysis.
Supply and demand analysis.
On the daily and 4-hour time frames, the price formed an m-retracement pattern and then the price hit the neckline of the retracement pattern, which simultaneously reacted to the supply zone. Therefore, the pattern is complete and we enter the transaction.
r/r=1/2
sl:139.49
tp:109.23
SOL - 1W - Bullish pennantA pattern similar to 2021 is taking shape. A bullish pennant.
In technical analysis, a pennant is a type of continuation pattern.
It's formed when there is a large movement in a security, known as the flagpole.
Then, the flagpole is followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole.
[SOL/USD] Solana harmonic pattern on 4 hour chartCRYPTO:SOLUSD is forming this pattern on its 4 hr chart.
Is Solana heading lower? SOL trades around $130, possibly testing 4HR 50MA as resistance. Reclaiming $130-$132 could lead to a retest of $135. Otherwise, a bearish signal at current price levels could lead to lower prices from $118 - $120.
[Crypto Currency] The forecasting of price movement of SOLUSD The forecasting of price movement of SOLUSD on Sept 9th, 2024
Buy ....?!@Solana coin is preparing to rise in the golden area for buying. There may be more manipulations. This is just an analysis and not a recommendation.
SOLANA: MINI CONSOLIDATION IS COMING?Hi guys,
I lost Solana the last bullrun but now I'm in a huge profit after the 2022 bear market.
At the moment I don't see so much strength on market due to USA election, this could potentially lead to a period of some months where profit could come mainly from shorting.
I don't like to short so I'm here to see if price drops and, in that case, add other funds to this altcoin, maybe this time 3x long.
Let's see.
SOLUSD BUY SIGNAL ANALYSIS FALLING WEDGE PATTERNHere on Solusd price has form a falling wedge pattern and is like to move up so if the line 133.33 break the chances of going rising up is high and going for LONG is needed and targeting profit should be around 142.86 and 154.49 . Use money management
(SOL) solana "resilient"Solana appears to be holding a strong flat pattern throughout the duration of the trending cycle of moving averages with the holding pattern reaching a resolute moment where the unknown may prove to be postively received, or negative if the MACD lines fall beneath the 0 neutral measurement. Solana is not immune to losing in price; it is capable of gaining too though.
Solana: Downward Pressure!We expect the downward momentum to continue into our blue Target Zone (between $85.15 and $30.79) before the same-colored wave (ii) comes to an end. Investors could open long positions within this range, whereby stops could be placed around 1% below the lower edge. With the correction low in place, the coin should finally rally decisively and break through the resistance at $210.03. Should this level be breached earlier, our 33% likely alternative scenario will come into play. This option sees the price in an extended wave alt.(i) in blue.
Look at that beautiful head and shoulders! Look!CRYPTOCAP:SOL going UP! What more do you need to see other than that beautiful head and shoulders?
SOLUSD BUY SIGNAL ANALYSIS RISING WEDGE PATTERNHere on SOLUSD price has form a rising wedge on 30 mins timeframe and is showing that there is a big chance of falling after breaking the line of 132.95 so going for SHORT is needed and targeting profit should be around 120.79 . Use money management
Might be about to see bull trap failure in SOLBull traps have gotten more tricky in modern times with us having to account for various types of trickery, but the basic model for a bull trap (Or any reversal off a retracement) is to look for a 76 retracement.
Here's the strategy for this.
So many crypto charts look like this. All of them screaming bull trap.
ETH has been developing for a while.
COIN looks exactly the same.
In general, the best performing crypto during the rally looks like this classic bull trap. With others not even being able to manage a respectable bull trap.
The only thing that's been giving the crypto market a half decent case for new breakouts was the BTC, but since that it's downtrended for 6 months.
Crypto looks very vulnerable.
[SOL/USD] Six months of price basing.After six months, CRYPTO:SOLUSD still trying to figure out which way it wants to go next. The price still swing in that rectangle. What I love to see is the price going down lower than its 5 August low, then make a bounce to start its run to ATH, just as it did in mid 2021....for now however, it still a patience game, let see how the market progress.
Solana might rebound from the current support levelSolana ( CRYPTOCAP:SOL ) price is currently close to a strong support level. COINBASE:SOLUSD
The $120-$125 support level was tested 7 times and SOL always rebounds.
Will it bounce up this time? I think there's a high chance it does it the macroeconomics this month help.
The numbers we need to pay attention to over the coming days are:
Sept. 6: unemployment rate
Sept. 11: inflation rate
Sept. 12: ECB interest rate decision
Sept. 19: FED interest rate decision
Solana - Bullish CampaignSolana is bottoming out right across the strong key-level support of 129.75. An upside reversal on a medium scale is highly likely at this point. We're targeting 142.65 and 157.05 respectively.
SOLANA: A Cautiously Optimistic Outlook, $720 top?Fellow traders, earlier this week, I provided my long-term outlook on BTC and the broader crypto market. Today, I’ll share my specific outlook and thoughts on Solana (SOL).
Fundamentals
Overall, my take on Solana is bullish but with caution. Of all the high-volume alt-coins, Solana exhibits the most bullish behavior when bullishness is expected. For example, when BTC goes up 20%, SOL typically goes up 40%.
I believe this bullish behavior can continue due to the meme coins that fuel demand for SOL. Solana has some of the lowest fees, ample integrations for meme coin creation, and a high trading volume to maintain its position. However, if BTC falls, SOL will likely crash harder, along with all the meme coins that depend on it.
Technicals: Case for Long
High probability reversion zones around $164, extending up to $185.
A higher high was observed on July 29th.
Price is moving within a rough channel.
Support at the channel bottoms with high-volume buying interest.
3-hour and higher time frames remain in a bullish trend.
High-probability bearish reversion zones are complete, and we are in a high-value zone.
The low from July 5th was not the recent lowest low.
Increasing volume over the past month so that it could be accumulation.
Case for Continuation of Short Trend
Based on the trend, we are not at the bottom yet. 2-hour and lower time frames are still bearish, with no retest or attempt to change the trend. The trend could continue, bringing the price even lower.
All coins, including BTC, are trending lower.
Equity markets are also falling, though this trend could reverse this week.
Given these conditions 🧐, I have a cautiously optimistic, bullish outlook for Solana. I expect a rebound once the bottom is reached and a revisit to the $170 area.
Lastly, if BTC is to go to $120k, I expect Solana to reach $720. Here is my target, and this is based on my mathematical system 😉
This is why Solana is one of my go-to coins for a long trade.
SOLANA The 1W MA50 and the RSI Support calling for $850 at leastAlmost 3 months ago (June 14, see chart below), we published our long-term thesis on Solana (SOLUSD), arguing that it wasn't the time to buy, not until it tested the 1W MA50 (blue trend-line):
As you can see that turned out to be the case as early last month, the price hit the 1W MA50 and rebounded. Last week's correction though puts this thesis in jeopardy and the 1W MA50 needs to hold. If not, we risk our maximum tolerance level on the 1W MA200 (orange trend-line), if the Bull Cycle is to stay alive. They key however lies on its 1W RSI.
SOL has been on a correction mode since the March 2024 High, in an attempt to technically harmonize the massive rally of 2023. The 1W RSI Double Topped in the same month and as the correction unfolds, it came last week the closes it has been to the Bull Cycle's Buy Zone since December 21 2020. This Zone is where buyers make their presence during Bull Cycles and not Bear Cycle bottoms.
On the previous Cycle, Solana rose by 51250% from the time is started to form the current long-term Fibonacci Channel Up. If we measure the same % growth from the recent Bear Cycle bottom, then we are looking at a peak a little above $4000. That is the most optimistic scenario we can get.
Keep in mind that Solana has already rose by +2500% up to March's High and if it indeed reaches 4k this Cycle, the rise will be less (+1900%) from March's High than it was from December 2022 to March 2024.
A more realistic target for those who don't want to hold for that long and assume higher risk, would be $850.00, which is expected to be at the top of the MMBs.
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Will SOL recover soon?SOL trades around $131, testing potential support. Closing below $127 could signal further weakness, while closing above $135.5 could signal strength and a potential attempt at $140 or reclaiming 4HR 50MA.
