SOLUSDT.P trade ideas
SOLANA OUTPERFORMSThis is NOT a suggestion to buy Solana, but rather an observation.
Solana once again bounced the hardest and led the recovery. This is important to note, because if you are being selective, you want to be in the strongest assets. Solana is currently trading higher than before the dump yesterday, which is quite impressive. It also never lost the range lows on a candle close, but rather swept them.
I do not think that every token will do well this cycle, so it is important to seek the best names. This is likely to continue to outperform throughout the next bull market.
You said "SOLANA NETWORK", I said "SOLANA NOTWORK"...You said "SOLANA NETWORK", I said "SOLANA NOTWORK"...
There was a drastic move for more than 40% without any corrections. Strange thing is that during such a huge moves, solana quite often goes down. This time it was working perfectly, which is kind of "strange". This gives to me the sign, that it could be only the start for the "things goes wrong way completely". Also, for the SAGA2 the team has collected more than 45bln$ on 100 000 preorders, while mcap. is 65bln$ at the moment.
After that, the different projects have airdropped to the people who preorder, in total more than the preorder price of the SAGA2. Strange to be so generous for the NEW projects/tokens/memes as there is no direct interest for them + you need to have quite big capital to do the charity like that. From the logic point of view, it looks like solana stands behind all that projects who has dropped more than 10$ per user.
So, from where to take the money to cover that airdrops, if the users has received more than 45bln$ as an airdrop?
I suppose, that in next strong move, we will see the network to goes down for a while in order to push to sell.
As we look on the chart, after the 40% move down, we are sitting exactly below the pierced level where the reaction was quite strong from it. Targets are marked on chart.
Guess we will see some accumulation, but think that it will be short.
After that we will continue digging down in search of the budget.
Thoughts above - it is only my opinion, and not a financial advice.
DYOR
Solana dropped after big OI trapSolana dropped after big OI trap
1st target was a PoC of a previus range
that's good
right now i expect bigger drop into key zone $100 - $120
but before it happens price should make additional consolidation
#SOL/USDT#SOL
The price is moving within a descending channel pattern on the 1-hour frame and is expected to rise after it has been largely committed to it
We have a downtrend on the RSI indicator that is expected to break upwards and we have a trend to stabilize above it
We have a major support level in green at a price of 111
We have a trend to stabilize above the moving average of 100
Entry price 115
First target 125
Second target 135
Third target 146
Solana makes strong low back into wedge, could we see new highs?The recent lows of the past week have wicked back into the wedge formation. We have had a SRSI cross on the daily, could we see an ATH? Might be worth a long trade 2x with SL of -15%. DYOR
Solana (SOL): where to next?Solana (SOL) has been oscillating between $116 and $210 for several months, indicating buying on dips and selling on rallies.
The price rebounded off the solid support at $116, signaling that the bulls are active at lower levels. The SOL/USDT pair could reach the moving averages, which are the key resistance level to keep an eye on.
If the price turns down from the moving averages, the bears will try to sink the pair below $116. If they succeed, the fall could reach $100 and then $80.
On the upside, a close above the moving averages will suggest that the selling pressure is reducing. The pair may extend its stay inside the large range for a few more days.
SOLUSDT.1DReviewing the SOL/USDT chart, my focus turns to several key technical aspects that shape the current analysis:
Technical Analysis
Resistance and Support Levels (R1, R2, S1, S2, S3):
The price of SOL has retracted from its recent peak near the R2 level at $193.09 and is now approaching the significant support level at S1 ($116.96).
Resistance levels R1 and R2 at $164.23 and $193.09, respectively, mark the critical zones where previous rallies have faced selling pressure, reinforcing these levels as key barriers for any bullish reversal.
MACD Indicator:
The Moving Average Convergence Divergence (MACD) shows a bearish momentum, as evidenced by the MACD line being below the signal line. The negative histogram further confirms the bearish sentiment, indicating that the selling pressure is not abating just yet.
RSI:
The Relative Strength Index (RSI) is nearing the oversold territory but hasn't reached it, suggesting that while there's bearish momentum, a potential reversal could occur if it dips into and rebounds from oversold conditions.
Conclusion
Given the current state of the SOL/USDT market, the approach is one of cautious observation. The nearing of the RSI to oversold levels coupled with the price's approach to support at S1 suggests a potential area where the market might stabilize or rebound. However, the bearish MACD indicates that any reversal could be short-lived unless there is a significant change in market dynamics.
For investors or traders, watching how the price behaves near the S1 level is crucial. A breakdown below this support could lead to further declines towards S2 ($93.66) and S3, whereas stabilization or a rebound could offer opportunities for short-term bullish trades. It's essential to wait for confirmation in the form of bullish candlestick patterns or divergences in the MACD and RSI to validate a potential reversal before considering long positions. As it stands, my strategy revolves around preparation for both scenarios, with a keen eye on the key technical indicators and price levels highlighted.
$SOL swing LongCRYPTOCAP:SOL Bullish idea
- Bouncing off H12 demand
- Sellers got absorbed at the previous quarter's value area low
- Bouncing off developing quarterly value area low
- Targeting 175
Solana (SOL): Made A Good RejectionSolana had made a good rejection of the resistance zone where bears are taking dominance, which can result in a nice downward movement here.
We are looking for all of those liquidity zones for any decent support so keep your eyes open on them (especially the middle one).
Swallow Team
SOLUSDT#Solana chart update: Solana is currently one of the most significantly dropped coins, having fallen almost 50% from its ATH. However, it has reached what seems to be its lowest point. We've arrived at the Fibonacci 0.5 support. I don't think it will go any lower from here. It might hover around these levels for a bit until the Iran-Israel issue calms down, and then it will likely be among the top gainers again. The time to renew its ATH will come. The expected scenario is illustrated on the chart.
SOL aint looking that goodYes, the market structure isn't really broken and it hasn't lost any major support
Yes, it can go higher, a lot higher,
and yes it's been one of the best performers of this cycle .
Which makes it rather risky to short it. But it doesn't change the fact that it:
- Failed to beat critical levels
- By being one of the best performers, retail is loving it.
- Everyone is too comfy in longs.
The level i had for SOL back in last year happened to be the exact bottom, so I'm being cautious here.
Solana weekly analysisI have marked the key levels on the Solana
now lets wait the weekly closing to confirm the next movement as per price action.
SOL LongAfter a heavy and powerful fall, we can expect a correction
The indicator also gave a bullish reversal signal that we can count on
SOLANA 1D RANGE There is no denying the last few months in crypto have been frustrating to say the least. With a brutal seemingly endless chop despite some very bullish events such as the halving, BTC & ETH ETFs, institutional interest and buying, presidential candidates in support of the industry etc. Bitcoin still struggles to break and stay above its '21 ATH @ $69,000.
For altcoins, and in particular SOL, this means they bleed as well and more often than not, they bleed more than BTC. Since range highs we've seen multiple retests of the lows and no retests of the highs, currently price has lost the range midpoint after hitting diagonal resistance and could potentially be targeting range low once again. The difference this time is the 1D 200EMA which usually serves as a Bullrun launching pad will be above that range low, any acceptance below this moving average is catastrophic for SOL.
SOL has recently overtaken ETH in daily DEX volume more than once in the recent past, which has signalled a shift in on-chain preferences for traders of lower-cap coins. This could help to keep SOL afloat compared to other L1'S and alts in general however if the environment truly is risk-off then it may not be enough.
From a bulls standpoint you'd like to see SOL hold price in this bullish Orderblock and at the worst $138 which is where daily support & 1D 200EMA is situated.
With rate cuts predicted to be coming in September, it feels like a survive the next 6 weeks and thrive in Q4. Until then it's capital preservation market conditions.
SOL - possible more shortsHi, I have added to my short position at 183$, right now my entry short price is 178$. Im still expecting more drop as Solana is very expensive compared to other coins on the market. We should see more longs liq. If this not going to happen closing my shorts above 185$ with loss.
