SOLVVS_80FDCC.USD trade ideas
EW-Analysis // Solana (SOL) 12/03/24Hi everyone,
today we'll have a brief lool at Solana...
Please note the DISCLAIMER at the end of this idea!
A brief overview of Solana:
Solana is a blockchain platform launched in 2020, known for its high scalability and low transaction costs. Developed by Anatoly Yakovenko, Solana aims to enable fast and efficient decentralized applications (dApps). Using innovative technologies like Proof of History (PoH), Solana can process thousands of transactions per second, offering a powerful alternative to established networks like Ethereum. ~chatgpt
Now, let's move on to the analysis...
The broader structure of Solana looks bullish, as it’s highly likely that COINBASE:SOLUSD has already completed Wave 2 and is now in Wave 1 of the following Wave 3.
Looking at the current situation, it appears that Wave 3 of 1 has initially concluded, meaning we should currently be in Wave 4. This wave could extend up to $198.05, with the subsequent target around $315. After reaching this level, a somewhat stronger correction is expected.
I hope you found my idea helpful and understandable. If so, feel free to drop a rocket! 🚀
Wishing you a successful trading week and hope you are doing well.
Best regards,
Rafi
DISCLAIMER:
The information provided above is an idea and does not constitute investment advice or trading recommendations! No guarantee or liability assumed!
Solana (SOL/USD): Bullish Prospects and the Potential for a $10KAn Elliott Wave Analysis
As of today, BINANCE:SOLUSD is trading at approximately $263 per coin, and it's become clear from a technical perspective that the cryptocurrency is currently in the midst of an exciting journey within Elliott Wave Theory’s third wave. For investors and traders monitoring Solana’s potential, understanding this wave structure can offer significant insights into its future price trajectory, with a bold possibility that could see the price surpass $10,000 in the coming years — given favorable market conditions.
Understanding Elliott Wave Theory and its Application to Solana
Elliott Wave Theory is a popular and effective method of technical analysis that identifies recurring price patterns driven by investor psychology and market sentiment. In a typical market cycle, there are five waves in the direction of the trend (impulse waves), and three corrective waves against the trend.
Wave 1 represents the initial surge, often unnoticed by the majority of market participants.
Wave 2 is a correction or pullback.
Wave 3 is typically the longest and most powerful of the impulse waves, driven by widespread adoption and market enthusiasm.
Wave 4 brings about a minor correction, and
Wave 5 concludes the bullish trend.
Currently, Solana appears to be in Wave 3, a phase in which the price tends to expand considerably. This third wave, as per the theory, is usually the longest and most explosive, often surpassing the length of Wave 1. This offers a promising outlook for the SOL/USD trading pair in the medium to long term, especially as Solana continues to mature as a blockchain platform.
Why the Third Wave is Crucial for Solana’s Potential
The third wave of an Elliott Wave cycle is particularly significant for several reasons:
Wave 3 is the longest – Historical price action shows that Wave 3 tends to be the most extended of the five waves in the cycle. If Solana is indeed in this wave, we can expect its upward momentum to be strong, pushing prices to new highs.
Market sentiment – Wave 3 is driven by mass market participation, often following a period of increasing institutional interest, technological advancements, and favorable news. Solana’s growing adoption as a blockchain for decentralized finance (DeFi), NFTs, and decentralized applications (dApps) puts it in an ideal position to fuel this momentum.
Potential for exponential growth – Given that Wave 3 is typically more robust and substantial than Wave 1, we could see Solana’s price extend into an uncharted territory, far beyond the current $263 mark.
Solana’s Path Towards $10,000
Looking forward, if Solana continues its strong development, adopts newer technologies, and maintains robust network upgrades, the price could experience exponential growth. Historical patterns suggest that, when in the third wave, markets can experience significant price appreciation.
If we extrapolate this logic, considering the magnitude of Wave 1 and Wave 2, and assuming Solana continues to solidify its place as a leading blockchain platform, the third wave might take the price of SOL above $10,000 per coin.
Here’s why this is a potential scenario:
Technological Innovation – Solana has distinguished itself as one of the fastest and most scalable blockchains in the crypto space. As the Solana ecosystem continues to evolve, new developments such as the potential for Solana to become a key player in the DeFi and NFT sectors could increase its value drastically.
Broader Market Adoption – If more institutional investors and users gravitate toward Solana as their blockchain of choice, the demand for SOL tokens will rise significantly, likely pushing the price even higher. This will be especially true if Solana attracts more decentralized finance projects or integrates with other major platforms.
Favorable Political and Economic Environment – The cryptocurrency market’s long-term growth potential depends largely on regulatory clarity and broader political factors. If political environments remain favorable, particularly in key regions such as the US, Europe, and Asia, Solana could benefit from increased adoption.
Continued DeFi and NFT Growth – Solana’s blockchain has seen growing use in both the decentralized finance (DeFi) and NFT spaces, with more projects launching on its fast, low-fee network. If these trends continue, demand for Solana's native token could continue to grow, helping to push prices higher.
A Long-Term Perspective
While it's important to note that cryptocurrency markets are highly volatile, and predicting the exact price of Solana years down the road remains speculative, it’s clear that if Solana continues to develop, and the market conditions align favorably, it could see incredible price growth. The current formation of the Elliott Wave structure on the monthly timeframe suggests that Solana might just be at the beginning of an incredibly bullish phase, with the third wave offering massive upside potential.
The price target of $10,000 for Solana may seem lofty at first glance, but considering that Wave 3 tends to be the longest and most powerful phase in an Elliott Wave cycle, such a scenario becomes feasible over the long term. For now, traders and investors should keep an eye on the ongoing price movement and macroeconomic factors that could help shape Solana’s future trajectory.
Conclusion
The Solana/USD pair is currently in the midst of the third wave in Elliott Wave Theory, which historically is the most powerful and lengthy of the impulse waves. Given Solana's technological advantages, strong growth in DeFi and NFTs, and favorable market conditions, there is a significant possibility that the price of Solana could exceed $10,000 in the future. However, it’s important to monitor the broader market sentiment, technological advancements, and political stability that will influence the trajectory of this crypto asset.
For now, if you're holding Solana, the future looks promising, with the potential for massive returns over the coming years — provided the bullish momentum from Wave 3 continues to develop as expected.
For research purposes only!
Where Now?Bitcoin's dominance is perhaps waning momentarily, but which leader of the alts will come out on top?
SOLUSD / ETHUSD is currently at a level first reached in September, but we're now approaching it from the other side.. will it hold?
#SOLWatching Solana on daily TF here, no clean setup yet, my gut says 170 but my mind says that's too low.
gonna watch it for the next couple of days & ape in
SOLUSD SELL IDEAHere is a SOLUSD Sell Idea. After seeing significant buy pressure on Solana brough upon by BTC shooting to near $100k, I believe we will see a retest of previous support levels for few different reasons. There is alot of liquidity between $220 & $260 so those order are likely to get activated before the price continues to rise. As well as the time of the year. December is traditionally a rocky month for crypto and based on price action from years past a slower more bearish market is to be expected.
ENTRY: 261
TP1: 245
TP2: 225
SL: 272
SOL to SUI ratio at crossroads, Next move?SUI has consistently outperformed SOL for the past few weeks. If the downward trend in SOLSUI continues, it means SUI will outperform SOL
SOLANA $1375 TargetA chart showing the current bull state sitting above the 200MA in white/grey
Price is looking to bounce to the upside off this 200MA
Each point in green circles shows these bounces.
573 days was the length of the first bull run so applying the same length to the current bull run we still have one strong move left, up towards $1375.
Very bullish still. Especially as we enter an alt season.
SOLANA (SOLUSDT): Great Buying OpportunityWe spotted a positive signal for bullish momentum on Solana's chart following a retest of a key daily resistance level that was recently broken.
The price has formed a small ascending triangle pattern on the 4-hour timeframe. To confirm this signal, watch for the descending triangle pattern on the 4-hour chart.
A strong confirmation would be a breakout above the horizontal neckline, indicated by a 4-hour candle closing above $245.
Consider entering a long position aggressively or on a retest of the breakout. Target prices for this trade are $260, $280, & $300.
Elliott Wave Analysis of SOLUSD - with targets for the TOPElliott Wave Analysis of Solana / SOLUSD.
From an Elliottwave perspective the pattern looks quite clear and leaves room for only a few more movements over the next few weeks before it tops out.
I believe that SOLUSD along with many other large cap crypto's only have a few more squiggles left in them before they complete this fifth wave cycle.
Enjoy and be safe!
SOL Breakout on the Horizon!SOL has been flashing some strong bullish signals lately. It formed a reverse head and shoulders pattern in August, with a classic cup and handle within. Then, in early October, a double bottom formed on the right shoulder of the reverse head and shoulders. Now, with candlesticks looking to break out of a bullish wedge, all signs point toward a potential breakout. The technicals are aligning, and significant gains are on the horizon.
still following my lines, waiting for pullback towars $220hitting another one of my crucial areas. waiting for pullback towards $220-$215 for long entry
Solana
The dominant trend appears bullish, as the price consistently trends above the moving average and remains near or above the upper Bollinger Band.
Support: Around $230–$240 (middle Bollinger Band and prior consolidation zone).
Resistance: The recent high near $265.
Bollinger Bands: Price retraction towards the middle band could signal cooling-off before resuming the uptrend.
Volume: Watch for rising volume on breakouts above $265 or breakdowns below $230 for confirmation.
Bullish Continuation: If price consolidates and stays above $240, it could aim for new highs beyond $265.
Bearish Pullback: A breakdown below $230 may test lower supports around $200 or the lower Bollinger Band.
SOLANA Is this correction a buy opportunity??Solana (SOLUSD) is on a 5-day pull-back, along with the majority of the crypto market. It is still above both the 1D MA50 (blue trend-line) as well as the 1D MA200 (orange trend-line) coming strong off a 1D Golden Cross. Is this correction, however, a buy opportunity?
Well the last time SOL formed a Golden Cross on the 1D time-frame was exactly 1 year ago (October 22 2023), after coming out of a similar (blue) Channel Down and that initiated the massive October 2023 - March 2024 rally. That rally hit all Fibonacci extensions of the Channel Down successively (2.0, 3.0, 4.0) and consolidated on all of them. Even the 1D RSI sequences between those fractals are similar.
As a result, we expect Solana to hit $315 (Target 1), $515 (Target 2) and $830 (Target 3) within a 4 month horizon.
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👇 👇 👇 👇 👇 👇
Off to Sol we goSol = Sun
Past the moon.
In a galaxy far far away.
Look, We are nearing a major backtest point. Taking a look at the left chart, on the 2 day timeframe, weekly/monthly, whatever you want to use. IT was a MAJOR range. And when you get a multiday/week breakout of a major range like this, AND you come back to test it, confirming support, and confirming that traders like the price above the range, you get a MASSIVE move.
KEEP IN MIND - Its a multiday/week breakout. Meaning it will take weeks and months to play out. This is a long swing. Maybe even stake your SOL and come back at the end of next year.
SOLANA $SOLUSD should continue rally after pullback endsSolana COINBASE:SOLUSD already confirmed bullish sequence by confirming higher high above March-2024 high. Since August-2024 low, it ended 3 of (3) at last peak and expect pullback in 4, which soon will end before it should continue rally in 5 of (3).
SOLUSD SELL ANALYSIS RISING WEDGE PATTERNOn Solusd price has form a rising wedge pattern and now try to move down so if line 225.76 break there is a chance of falling even more and trader should expected to go SHORT with expected profit target of 220.94 and 215.89 . Use money management
The Crypto World pulled back to a .382 today in most if NOT allThe Crypto World pulled back to a .382 today in most if NOT all As well as the reason for the rally and DROP is due mostly because MSTR . He has been Issuing DEBT on his balance sheet to BUY BITCOIN .
Most bullish asset on the planetGo and take a look at SOLBTC chart and tell me if you rather be in Solana or Bitcoin.
Sol is usable, something that ETH lost when it became expensive and elitist...
SOL to mooooon 500$📌SOLANA signal:
Signal 1: Bullish Confirmation with Key Breakout 🚀
Solana has showcased a strong first pump followed by consolidation and another breakout at the second move. The chart suggests the potential for continuation to higher levels. A critical pullback entry zone lies between $235–$237, offering a safer opportunity for buyers to join the trend. Targeting $270 and beyond is now a bullish outlook! 🎯
Signal 2: Target Open Beyond $270 💰
The breakout above $270 could signal the next leg up toward the $500 target. Current price action suggests a healthy pullback structure, aligning with the big pump setup. Keep your stop-loss tight around $212–$222 to protect against market volatility. 📈✨
🔥 Plan your entries carefully and ride the wave toward $500! 🚀
