SOLUSD trade ideas
SOLUSD: Snapping Back to $210 | 70.70% Probability!BINANCE:SOLUSD has been drawing a lot of attention in the crypto space in the past few days due to its integration with NASDAQ:PYPL
Let's have a technical analysis breakdown:
BINANCE:SOLUSD According to my Free Probability Indicator , There's a 70.00% chance it could climb back over $210 and beyond, which is pretty much encouraging!
If you're thinking about trading LINK, here's what you should consider:
Entry:
Wait for clear signs that the price is going up again.
Once you're confident the trend is changing, consider buying LINK.
I'm currently looking at the 8H Equilibrium to get positioned.
Exit:
To protect yourself from drawdowns, consider setting a "trailing stop-loss." This will automatically trigger a sell order if the price starts dropping again after you buy, securing your running profits.
Risk Management:
Ensure you're not risking more money than you can afford to lose.
Only invest what you're comfortable with and consider how much you're willing to lose if things don't go as planned.
This isn't financial advice, just some insights to help you make informed decisions. Always do your own research before investing in anything.
Could price reverse from here?SOL/USD is rising towards a resistance level which is an overlap resistance that lines up with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 175.23
Why we like it:
There is an overlap resistance level which lines up with the 50% Fibonacci retracement.
Stop loss: 188.78
Why we like it:
There is a pullback resistance level.
Take profit: 158.28
Why we like it:
There is a pullback support level which lines up with the 61.8% Fibonacci retracement.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
$SOL good RR LongCRYPTOCAP:SOL has great potential in coming week. a good entry for a weekly swing game. coming week will be a green week for crypto followed by a panic sell off next coming weeks.
Play correctly and dont miss the run.
PORTFOLIO ALLOCATION FOR TRADE
10%
25x leverage
Solana's Magic Eden NFT Volumes Top Bitcoin and EthereumSolana's Magic Eden, a non-fungible token (NFT) marketplace, has seen a surge in trading volumes, dominating the Solana ( CRYPTOCAP:SOL ), Ethereum, and Bitcoin networks. This surge comes as total NFT volumes have dropped in the last 30 days. The platform has surpassed NFT marketplace Blur on Ethereum, with its market share increasing to 41.39%. On Solana ( CRYPTOCAP:SOL ), Magic Eden maintains its lead with 75.79%, with assets worth over 17K SOL. Recent market activity has boosted its lead, with Tensor and Sniper coming up next with 19.38% and 2.40%, while Hyperspace and Hadeswap rank next with 1.21% and 0.98%, respectively. On-chain data from Tiexo points to a rally in Solana volumes, with volumes 18% to 22.7 SOL, approximately $3.81 million.
Magic Eden dominated NFT volumes in the Bitcoin ecosystem, posting 55.07% of the market share. In December, Solana ( CRYPTOCAP:SOL ) topped Ethereum in NFT volumes as users purchased projects based on the platform. However, recent data from CryptoSlam shows a drop in overall volumes, with volumes plummeting 54% to $624 million from last month's over $1 billion volume. Bitcoin NFT sales plummeted 68%, while Ethereum and Solana experienced a 55% and 48% drop, respectively.
SOLUSD Tight Risk Buy PointWorking up the right side of a quality base, digesting the 1,100% run from September 2023 thru March 2024. High volume flush in April that was quickly bought up, shakeout in early-May, reclaim of important VWAPs, volume declining as it works its way up the right side.
Now with the current volatility contraction, it setups up a potential early buy point within the base over 175 on a thrust in volume. The most aggressive stop placement would be just under the 163.50 low from 5/30. I will personally give it room to fluctuate until a decisive break below my cost basis around 150-ish.
May Closing BullishAfter starting May at 117 SOL began to claw back up and actually led BTC and ETH for sometime hitting 133 mid month. But then it made a new support area at 166-67 which is where we are back to today after some nice pumps. You know how it goes here we have to break through the 200 to 10 area for continuation. Otherwise we may be coming down like a popped like a balloon in June!
Heading into 50% Fibonacci resistance?SOL/USD is rising towards a resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could potentially reverse from this level to our take profit.
Entry: 175.23
Why we like it:
There is an overlap resistance level which lines up with the 50% Fibonacci retracement.
Stop loss: 188.78
Why we like it:
There is a pullback resistance level.
Take profit: 158.78
Why we like it:
There is an overlap support level which lines up with the 61.8% Fibonacci retracement.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Solana's Phantom Wallet Introduced Bitcoin Ordinals integrationSolana ( CRYPTOCAP:SOL ), the popular cryptocurrency, has been regaining attention as it hosts Bitcoin Ordinals on its associated Phantom Wallet. The platform has announced that Bitcoin support is now out of beta and available to everyone, eliminating the need for users to rely on centralized exchanges or unfamiliar wallets for collecting Ordinals. The team of developers at Phantom has dedicated themselves to enhancing the Bitcoin experience since its beta debut in December 2023.
Users can now buy and sell Ordinals and BRC-20s through various apps such as Magic Eden, Atlas 3, Ordinals Wallet, UniSat, BeFi Labs, Matrica Labs, Ordiswap, Hello, and Gamma. Solana's low cost and high-speed network attracts users due to its low cost and high-speed network. PayPal recently expanded its stablecoin, PYUSD, to the Solana ( CRYPTOCAP:SOL ) network, marking a significant leap in expansion for the online payment platform.
The Phantom Wallet offers comprehensive crypto management, including recursive inscriptions and ledger compatibility. Users can securely manage their Bitcoin, Ordinals, and BRC-20s in one account through the mobile app and browser extension. The Collectibles tab allows users to discover and manage rare sats, check total sat amounts, and view "satributes" for each UTXO. Additionally, Phantom offers simple address management, enabling Native Segwit, Taproot, or both.
This comeback simplifies the process of transferring and buying Bitcoin instantly, offering a comprehensive and streamlined experience for all crypto needs.
Solana ( CRYPTOCAP:SOL ) has manage to regain the $170 pivot again validating its position as the third to Ethereum ( CRYPTOCAP:ETH ). The Altcoin has a Relative Strength Index (RSI) of 55.62 which is primed for a trend reversal. In the short term, Solana's ( CRYPTOCAP:SOL ) daily price chart shows a rising trend pattern from an initial falling wedge pattern.
PayPal USD (PYUSD) Goes Live On SolanaPayPal USD ( SEED_DONKEYDAN_MARKET_CAP:PYUSD ) has gone live on the Solana blockchain, marking a significant expansion beyond the Ethereum ecosystem. This collaboration between PayPal and Solana ( CRYPTOCAP:SOL ) offers millions of users guaranteed access to the token with guaranteed speed. The integration allows PayPal to leverage Solana ( CRYPTOCAP:SOL ) and the token extension to serve over 30 million merchants globally while offering transactions at a lower cost. This marks a milestone for USD-pegged stablecoin as it is its first move beyond the Ethereum ecosystem.
PYUSD is also expanding its utilization as a payment method for small and daily purchases. PayPal USD has found new ways to evolve in a bid to compete with dominant alternatives like Tether ( CRYPTOCAP:USDT ) and USD Coin ( CRYPTOCAP:USDC ). Xoom, PayPal's cross-border money transfer service, recently launched a new funding option that allows U.S. users to finance international transfers using PYUSD. Users are exempt from paying transaction fees when using PayPal USD to fund eligible transfers to recipients in over 160 countries.
Solana's speed and low cost may impact the PYUSD market outlook positively. Over time, Solana ( CRYPTOCAP:SOL ) known to process over 5,000 transactions per second, costing only about $0.0025. Compared to Ethereum's 15 transactions per second with higher fees, Solana offers significantly cheaper fees. PayPal's senior vice president of blockchain, Jose Fernandez da Ponte, stated that making PYUSD available on the Solana Blockchain furthers their mission of enabling a digital currency with a stable value designed for commerce and payments.
Despite the fundamental, Solana ( CRYPTOCAP:SOL ) is still trading with a weak Relative Strength Index (RSI) of 54.89 signifying a bullish reversal trend in the long term.
5 day chart SOLSOL 5 day chart
Expansion of volatility on bbwp has lead to big moves on average. 212%
Average move excluding the 2 outliers where we saw 400%+ moves would bring it down to 74.84%
Stochastic momentum has been correct in getting the direction of the move right 71% of the time.
Upside more likely right now but it could change with time, volatility is still contracting and hasn't expanded yet.
52 days on average to play out
Solana Set for Surge Amid ETF SpeculationNow what had to happen has happened: There is open talk about a SOL ETF. Once again, mere optimism about future billion-dollar inflows is likely to drive prices significantly higher. After the Bitcoin and ETH pumps, a Solana pump is now - and there is hardly any reasonable doubt about it - imminent. If we derive the price target from Elliott Wave Theory and reduce it a bit to avoid overextending our luck, we get a target range for SOL of around 275 USD. This bullish assessment is supported by a hidden bullishly divergent Cumulative Volume Delta.
$SOLUSDNot financial advice.
COINBASE:SOLUSD
Currently inside triangle for consolidation or distribution.
Scenario #1
Creating a cup and handle for a breakout to the upside.
Scenario #2
Breaks to the downside for a wave 2 according to Fibonacci numbers
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Thanks.
SOL AnalysisHello,
I'm opening a trade long for SOL
I'm expecting a breakout and I'm aiming for a quick profit of around 3%
Aiming for the circled area and red line. DYOR
SOLANA At 2:37 am today, the cryptocurrency market experienced its most catastrophic crash in history, yet it has gone largely unnoticed... for now.
The silence is deceptive, as the ramifications of this event will soon resonate throughout the market, leaving no investor unscathed.
The clock is ticking, and the world is about to witness a seismic shift in the crypto landscape.
SOL analysisI'm expecting a breakout from this trendline. I will be chasing the lower trendline that can become a support. Stop loss is placed at the recent high, which I am expecting that it will be not reached.
Solana Stumbles at $190: Can the Rally Hold?Solana (SOL), a prominent blockchain platform known for its fast transaction speeds, faces a hurdle in its current price uptrend. Despite a 5% rally on , on-chain data suggests challenges that could hinder SOL from decisively surpassing the $190 resistance level. Let's delve into the factors contributing to this hesitation.
Resistance at $190: A Psychological Barrier
The $190 price point represents a significant psychological barrier for SOL. It previously acted as a support level in early 2024, but after a period of decline, it now presents resistance for the bulls trying to push the price higher.
Breaking through resistance levels often requires significant buying pressure. If buyers are hesitant or lack conviction, the price can struggle to overcome this hurdle and may even fall back.
On-Chain Data Paints a Mixed Picture
While the price action shows a short-term upswing, on-chain data, which analyzes activity on the Solana blockchain, paints a less clear picture. Here's a breakdown of two key metrics:
• Network Activity:
Recent data suggests a stagnation in Solana's network activity compared to its competitors. While SOL's price rose, the number of transactions and active users haven't seen a proportional increase. This could indicate a lack of organic growth and user adoption, which are crucial factors for sustained price appreciation.
• Impact of Inflationary Proposal:
A proposed change to Solana's tokenomics, SIMD-0096, has sparked debate. While some argue it will increase network security, others believe it could lead to higher inflation for SOL. This uncertainty might be discouraging some investors from entering the market.
External Factors Affecting SOL
The broader market sentiment also plays a role in SOL's price movement. The recent approval of an Ether (ETH) exchange-traded fund (ETF) in the US may have drawn some investment away from alternative blockchains like Solana. Investors may be shifting their focus towards established players like Ethereum, potentially impacting SOL's short-term momentum.
What to Watch Out For
For SOL to overcome the $190 resistance and maintain an uptrend, several factors need to be monitored:
• Network Activity: A significant increase in transactions and active users on the Solana network would be a positive sign, indicating organic growth and potential for further price appreciation.
• Clarity on Inflationary Proposal: If the community reaches a consensus on the SIMD-0096 proposal, and its impact on inflation is well-understood, investor confidence in SOL could improve.
• Overall Market Sentiment: A positive performance by the broader cryptocurrency market would create a tailwind for SOL, potentially aiding its breakout above $190.
Conclusion
Solana's recent price rally is encouraging, but the resistance at $190 and mixed on-chain data pose challenges. Network activity, the outcome of the inflationary proposal, and overall market sentiment will be crucial factors to watch in the coming days and weeks. If SOL can overcome these hurdles, it could pave the way for a more sustained uptrend. However, if the price falls back from $190, it may indicate a need for more fundamental developments to drive long-term growth for the Solana ecosystem.
#SOLANA Breakout Now This idea is for those who own solana coin
This is not advice to buy. The currency has great negative news, so it may affect the price in the future and change everything
Please support the idea by pressing the like button and writing your opinion in the comment box
Good luck 🌹
Solusd buyBreakout to the upside, liquidity grab on the bottom and now it's going up, no more usd hikes so no surprises, bullish market structure, order book is rebalanced, reaction at the support line,
Solana - Why You NEED THIS Indicator📢COINBASE:SOLUSD
SOL is flashing some bullish signs on the indicator and it seems that we're gearing up for another move towards the upside. This is the indicator that I used to call the new BTC bullish cycle in November last year, as seen below:
In 3 short minutes, we'll discuss the functionality of this technical indicator and why it's really helpful when monitoring the market.
Make sure you don't miss my most recent update on BTC, and why I say another ATH is imminent:
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Solana long set uphey just posting another idea for a long set up sunday morning.
hopping in at 163.35.
stop lost 160.55
tp top of the range.
good luck
Solana bearish feelingThis is not a financial advice, I'm just expressing my first thought how Solana price may move.
Think of this as my personal prediction, to later evaluate, as of how accurate I was.
Why I feel bearish:
The memecoin ecosystem, in Solana DeFi, is packed with con artists, that find ways to trick the masses into "investing" in fraudulent schemes, consequently resulting in a loss of interest by the fresh rookies, that find their way into Crypto.
