SOLANA to new all time highs [$260]buying mid-range retest / bullish shift in daily market structure targeting new highs
been consolidating in this range for 4 months expect breakout in one direction soon
SOLUSD.P trade ideas
SOL breakout towards $250+SOL has broken out of the pattern and also back tested the break and looks to clearly breakout and go higher. BTC is also primed to move. This is not financial advice, just tracking for my own personal portfolio, thanks.
Solana Steals the Show: Outperforming Bitcoin and EthereumWhile the cryptocurrency market has traditionally been dominated by Bitcoin and Ethereum, a new contender is emerging as a potential market leader: Solana. This high-performance blockchain platform has been making significant strides, outperforming both BTC and ETH in recent times. The question on everyone's lips is: Is this a sign of things to come for Solana in the remainder of this bull market?
Solana's recent surge can be attributed to several factors. Its robust network, capable of handling a high volume of transactions at lightning speed, has attracted a growing developer community. This ecosystem is rapidly expanding, with new projects and applications being built on the Solana blockchain. This increased activity not only enhances the platform's utility but also boosts investor confidence. scalability and low transaction fees has positioned it as a strong competitor to Ethereum, which has faced scalability challenges in the past. As decentralized finance (DeFi) continues to gain traction, Solana's ability to handle high transaction volumes efficiently is a significant advantage.
However, it's essential to approach Solana's performance with a degree of caution. While the recent surge is undoubtedly impressive, the cryptocurrency market is notoriously volatile. Past performance is not indicative of future results. Factors such as regulatory changes, market sentiment, and competing blockchain platforms could impact Solana's trajectory.
Additionally, it's worth noting that Bitcoin and Ethereum have their own unique strengths and advantages. Bitcoin remains the dominant digital currency with a strong brand recognition and a large, established user base. Ethereum, on the other hand, is the leading platform for smart contracts and decentralized applications.
While Solana's recent outperformance is undoubtedly exciting, it's too early to definitively declare it the next big winner in the cryptocurrency market. The crypto landscape is highly competitive, and new challenges and opportunities are constantly emerging.
Investors should conduct thorough research and consider diversifying their portfolios across multiple cryptocurrencies. It's essential to have a long-term perspective and be prepared for market fluctuations.
As the bull market progresses, it will be fascinating to observe how Solana continues to evolve and compete with its more established rivals. If it can maintain its momentum and address any potential challenges, it could solidify its position as a major player in the cryptocurrency ecosystem. However, only time will tell if Solana's recent success is a sustainable trend or a temporary blip in the market.
SOLUSD-BULL FLAG2YR:Tested and Rejected 2 Year Previous High
6M: Wick fill on 6 Months after higher timeframe test Reject
Note that this activities always leave a trend behind to anticipate the next Move, although not accurate it is probabilistic and with God risk Management few attempt to the Anticipated Movement will lead in high chances of Profit than loss:
3Months: Created a Pin Bar with 3 Bar Inside Bar , this is great opportunity to trade Support and Resistance Set Up, normally from Linda Raschke Lesson, a Range/pin after 3 Bull run normally leads to break and trend, hence we are expecting a break and altleast 3-5 trend capture on Daily and weekly. We don't hold for Months,
1 Week: Formed a 3 push or Head and shoulder
1Day: 1-2 RTM as on Bitcoin and expecting a trend bullish today and trail stop expecting for test and break of previous high follow through
SOL Rising Wedge pattern can go upto 155SOL looking Bullish making the rising wedge pattern on Top and now its making LH and LL to determine it faith that is 155.
I see this to get corrected till 150 in short run
Solana Soars: Can It Break Through to $200?Solana (SOL), the high-performance blockchain platform, has been making waves recently with a 5% price surge. This uptick has ignited discussions among investors: can SOL reach the coveted $200 mark? Let's delve into the technical analysis and market sentiment to assess this possibility.
Breaking Through Resistance: A Positive Sign
The recent price action for SOL is encouraging. The token successfully surpassed the crucial $175 resistance level, a significant hurdle that often acts as a barrier for further gains. This breakout suggests a shift in market sentiment, with buyers becoming more confident and pushing the price higher.
Technical Indicators Offer Support
Beyond the resistance level, technical indicators provide additional reasons for optimism. The price is currently trading above the 100-hourly simple moving average (SMA), which is a technical indicator that gauges the average price over a specific timeframe. This indicates a potential uptrend, as the price is positioned above the average price of the past 100 hours.
Bullish Trend Line Offers Guidance
The formation of a bullish trend line on the hourly chart adds another layer of technical support. This trend line acts as a floor, preventing the price from falling too drastically. As long as the price remains above this line, the uptrend remains intact.
The $185 Hurdle: Key to Reaching $200
The next major obstacle for SOL is the $185 resistance level. If the bulls can muster enough strength to break through this barrier, it would pave the way for a potential surge towards the $200 target. Higher trading volume accompanying this breakout would further solidify the bullish momentum.
Market Sentiment Plays a Role
Technical analysis is a powerful tool, but it's not the only factor at play. Market sentiment significantly impacts cryptocurrency prices. Positive news surrounding Solana's ecosystem, partnerships, or technological advancements could fuel a buying frenzy, propelling the price towards $200. Conversely, negative news events or broader market corrections could dampen enthusiasm and hinder the climb.
External Factors to Consider
The overall health of the cryptocurrency market also plays a significant role. If Bitcoin (BTC), the leading cryptocurrency, experiences a strong rally, it can often lift the tide for other altcoins like SOL. Conversely, a Bitcoin price slump could drag down the entire market, impacting SOL's trajectory.
Conclusion: A Promising Climb, But Caution Advised
Solana's recent price action and technical indicators paint a promising picture. The $200 target is certainly within reach, but several factors need to align for it to become a reality. Overcoming the $185 resistance, positive market sentiment, and a supportive overall crypto market are crucial. Investors should exercise caution and utilize proper risk management strategies, as the cryptocurrency market remains inherently volatile.
By closely monitoring technical indicators, staying informed about relevant news developments, and keeping a pulse on market sentiment, investors can make informed decisions about their SOL holdings.
SOLANA: Potential Bullish ContinuationIchimoku looks like it's about to change trends (lower chance) or maintain the current bullish trend. This is supported by the recent trendline break, but with price now reaching near the last local high we are coming on strong resistance. Looking to see how price reacts to the area it's currently in as any bullish momentum could be aggressive to the upside with an ATH so closeby
SOL Breaks DTSOL breaks above the diagnal resistance line of the decending triangle. Watch for a bounch off this line and to hit key levels or resistance at 203 and 258. If the diagnal doesn't hold, watch for support at 122.
Solana weeklyI believe Solana and other crypto majors are going to see another parabolic run as detailed in this chart
SOL is SAILING 2DAY :) Numerology its (8Day#MONEY)You can expect SOL to continue to climb chasing value. You can see its going up as the RETAIL sector is still holding short positions on the daily timeframe, so upper sectors will continue to pump until they are flipped to long at which point we. will get a short swing on SOL and BTC as well. Saturday Green Day for sure. Sunday end of cycle and possible RED.
SOL Cup and HandleA good retest and still looking at $1400 top this cycle (2025). Scaling part way out on the way. If you see something different chip in.
SOLANA MAJOR BULL SIGNAL COINBASE:SOLUSD giving a massive bull signal on the weekly chart. Green dots indicate reversals to the upside. All time high incoming
|| SOLUSD || $200 INCOMING PART 2!The Sol price action has been extremely bullish today, as price has firmly Broken out of the pennant formation as discussed in my previous article. Although this move is bullish, there is still some way to go before we are able to see prices as high as $200, however, it is inevitable. In the following statements I will discuss my bullish perspective.
Double bottom formation: as seen using the Elliot wave indicator I have outlined the structure of a DB formation. This particular formation holds additional bullish sentiment based on the fact that it was formed leading to a tight squeeze of the larger time frame bullish pennant. This scenario generally tends to hold much greater likelihood of bullish movements to come.
My target for the double bottom is set at $180, which seems like an easy target considering market sentiment, however, price is currently resting between two key levels of support and resistance drawn using the fib retracement, 0.50 ($165) and my golden ratio of 0.618 ($175.50) and 0.65 ($178.34).
If we are able to hold strongly above the 165 level and even possibly retrace down to strengthen support at that level, the likelihood of success will increase. expect to see consolidation within this range prior to a breakout. Consolidation would be the healthier alternative to a clean break.
The lowest ill allow price action to move before shifting towards a bearish sentiment would be the fib 0.382 ($154.51) which is the base of the double bottom formation. A great stop loss area would be around the $150-152 range.
Zooming out to the pennant formation. In order to be more confident in the formation, price action would have to retrace wicking near the formations level of support turning to resistance for the breakout to be valid. If my projections are correct the validity of the pennant breakout will result in a move to roughly $226 as discussed in my previous article.
in conclusion watch for any moves between the 165 and 178 levels as that would roughly indicate a strong move in either direction, however, prices as low as 155 are still justifiable and arent bearish yet.
Thank you for reading this far, I hope you were able to get some insightful information to aid your pre-existing market analysis! Remember everything I say is NOT financial advice and should be taken with a grain of salt.
Is This The Beginning of A Bullish SOL Reversal?Following the announcement of a SOL ETF a few weeks ago, almost all investors expected the Solana share price to rise significantly. And when many traders expect a price movement, the opposite happens. This was also the case with SOL.
Following the significant price losses, however, an impulsive countermovement is now emerging that could herald a sustained trend reversal.
We are now positioning ourselves long in Solana. The trade idea presented offers a good RRR of around 1.5:1.
SOLANA: A BIGGER PONZI THAN THE DOLLARI know I'm going to make some mad with this one - but it's obvious, but it's been a money grab from the start.
Looking forward to revisiting this one as time rolls on.
|| SOLUSD || $200 INCOMMING FOR SOL!! ||Good day all.
the current market structure for sol is preping itself for a break out of the above level of key resistance (displayed in yellow). I will be discussing a series of confluences in the following points below to strengthen my case.
Sol has been in a consolidation phase roughly since April, creating a healthy level of support and resistance for future market structure, considering the consolidation being so close to ATH ($260) is remarkable and normally a great indication of further continuation into price discovery.
Bullish pennant: market structure for the past couple months have formed a bullish pennant. Price has reached a pivotal point of a potential break resulting in a target of $227 which is roughly a 43% increase in value, however, there is still some way to go as price is sitting right under a key level of resistance expressed between the prices, 173 and 178.
If price is able to break this key level and hold strongly above preferably on the daily chart, bullish sentiment will be high. I do feel price will break and briefly retrace off the level of resistance only to build up stronger support resulting in a push up and most probably through. This price action will be the healthiest and the most likely, as referenced from multiple market structures in a similar situation.
MA: My preferred averages consist of a 18 and 100 EMA, my averages position is currently crossing from bearish to bullish as my averages have converged (18 crossing 100). this convergence is normally a bullish signal when compiled with other bullish confluences.
Although my predictions for the medium term is bullish, there is absolutely a possibility that price can retrace back down to the key level of support resulting in a further strengthening of the current formation and overall heath of the market and future structure, however, I feel the break to the bulls is inevitable based on the overall bullish sentiment across the whole board of crypto assets.
I do not offer financial advice and this position should not be used as your only means of placing a trade, however, rather as an extension of your preexisitng ideas to place a trade.
Thank you for putting time in to read my Sol prediction. Make sure to let me know what you think whether you agree or not, constructive criticism will be appreciated!
Solana Primed With Fibonacci Extension and Cup & Handle PatternSolana (SOL), the high-speed blockchain platform often dubbed the "Ethereum killer," has been experiencing a resurgence in recent months. This renewed bullish sentiment is fueled by a combination of technical analysis and positive market developments, leading some analysts to predict significant price increases for SOL.
Fibonacci Extension: A Roadmap for Potential Growth
One of the key indicators attracting attention is the Fibonacci extension. This technical analysis tool, derived from the Fibonacci sequence, is used to identify potential support and resistance levels based on historical price movements. By applying the Fibonacci retracement levels to a prior price swing, analysts can project potential future price targets.
In the case of SOL, some analysts are pointing to the Fibonacci extension as suggesting a potential climb towards a new all-time high. While the specific price point mentioned in the prompt cannot be included, the analysis suggests SOL exceeding its current value by a significant margin, potentially reaching a 300% increase.
Understanding the Significance:
It's important to understand that the Fibonacci extension is not a definitive predictor of future prices. It merely highlights areas of potential support or resistance based on historical patterns. However, in conjunction with other technical indicators and market sentiment, it can provide valuable insights for investors.
Cup and Handle Formation: A Bullish Pattern Emerges
Adding to the bullish outlook for SOL is the formation of a cup and handle pattern on its price chart. This technical pattern is often viewed as a bullish continuation signal, indicating a potential price increase after a period of consolidation.
The "cup" portion of the pattern resembles a U-shape, representing a price decline followed by a rebound. The "handle" is a short, corrective pullback after the rebound. A successful breakout from the cup and handle pattern suggests a continuation of the uptrend, with the height of the cup often serving as a target for the breakout price.
The presence of this pattern on SOL's chart, alongside the Fibonacci extension suggesting a potential new all-time high, creates a compelling case for a bullish breakout in the coming weeks.
Market Factors Supporting the Upswing
Beyond technical analysis, several market factors are contributing to the positive outlook for SOL. Here are a few key drivers:
• Increased adoption of DeFi and NFTs: Solana's fast transaction processing times and lower fees have made it a preferred platform for decentralized finance (DeFi) applications and non-fungible tokens (NFTs). This growing adoption is driving demand for SOL, potentially pushing the price upwards.
• The Merge and its impact: The upcoming Ethereum upgrade, known as the Merge, is expected to increase competition within the blockchain space. Solana's existing advantages in scalability could position it to attract users seeking alternative solutions, further bolstering its value.
• Institutional interest in the crypto market: The growing involvement of institutional investors in the cryptocurrency market is bringing fresh capital and mainstream validation. Solana, with its established technology and strong developer community, could be a prime target for these institutions, leading to increased demand for SOL.
A Word of Caution
While the current sentiment surrounding SOL is bullish, it's crucial for investors to approach the market with caution. The cryptocurrency market remains inherently volatile, and unforeseen events can trigger price swings.
Thorough research into SOL, the broader market environment, and a clear understanding of the risks involved are essential before making any investment decisions.
Looking Ahead
The confluence of technical indicators, positive market developments, and a bullish cup and handle pattern suggest an exciting future for SOL. If the Fibonacci extension proves accurate and a breakout from the cup and handle occurs, SOL could witness significant price appreciation. However, close monitoring of market conditions and ongoing developments within the cryptocurrency space remains vital for investors navigating this dynamic market.
We are still Green on XRPWe are still Green on XRP on the daily.
Had not posted in a couple days because has been no change.
No news is good news.
The WizardOfRealms13
