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SOLUSDT trade ideas

Solana's Top Pattern More Obvious NowIt is my understanding that sometimes certain signals are not easy to spot when looking at the charts, it is not everybody that has the vision to see, perceive and understand a pattern that is 100% subjective and imaginary... But they exist. It is hard when one is invested, literally, into something to see something that goes against our desired result. But fooling ourselves accomplishes nothing, accomplishes nothing more than loss and pain. While I might not be able to see a top here, some other people can see and they are pointing it out to me with good intentions. The same people pointed the bottom to me with great intention. They said, "Look, it hit bottom and it is going up and it is going to grow and it is going to be great." It did grow and it was great. They are now saying, "Look, it peaked and it is going down and it is going to be horrible." There is no vested interest. There is no money involved. There is nothing to gain, there is nothing to lose. Just sharing exactly what I see with you. I am sharing what I see and showing it to you... What do you make of the chart now as it is? Can you see kind of like a "top pattern" on this chart? What we call a "top" is when prices stop growing, go sideways and then start to go down. ➖ If you consider the action from September 2023 through March 2024, it was clear, it was obvious, it was happening, it was straight up. ➖ If you look at the action after March 2024; it is clear, it is obvious, it is going sideways, it is going down, it is going to drop. It is going to crash and the crash will be really strong. Solana, with billions of capitalization will produce a massive correction and this capital will flow to the smallest Altcoins. Thanks a lot for your support. Namaste.
Short
by AlanSantana
10
SOLUSDT ShortFundamentals The overall crypto market is likely to retrace with the upcoming interest rate cuts across the world. We need to understand the bigger picture, rates are starting to come down as fears of a not so good US economic cycle might be on the next corner. This, plays well into the good-old narrative that BTC (and therefore the rest of the crypto marketplace) tend to follow the equity market. The AI hype is clearly fading away and most of VC capital is now due to be taken as a loss. This may be an enormous driver for the equity markets. So, looking at this medium-long term hypothesis, we must then look for vision-adjusted positions. Before we move to chart analysis, we must see what's going on within the Solana ecosystem. After a few minutes browsing the internet for news related to Solana, we can see that there is not much to go with, therefore the usual hype factor that could diverge SOL from BTC, doesn't seem to be there either. Solana should follow the overall crypto market, led by BTC. Technicals Going into the monthly timeframe, we can immediately see two important things. Double top in the 200s zone, both with severe rejections A clear support base level in the high 120s. A clear range down to low 40s IF 120s break. If we delve deeper into the weekly, we can see that lower highs and lower lows are being formed. It is VITAL to acknowledge the bullish attempt to break above but which was so strongly rejected immediately after. This is a major warning that bulls are just not there yet. However, no clear entry point for me just yet. Going even deeper, to the Daily: We can see what starts to resemble bearish flag/wedge. This aligns with out overall idea for shorts. Now I can start to envision what a possible trade can be. I need to see a clear candle coming down to the low 120s. That will serve as my confirmation. My entry will be in the next candle once it breaks the confirmation candle's low. ideally, I want my entry candle to have made its upper wick before I get in. The reason is simple, I want prices to go lower, lower highs, lower lows, therefore I want to be confident that the lower high was done (most likely done at least). Now, assuming that we got our entry, where do we leave? Do we leave entirely or partially? For that we can look slightly deeper, to the 4H chart. There seems to be a clear range down to 110 and price has bounced strongly from there. Therefore, I'm going for 70/80% partials at slightly above that level, 111/2s. The 20/30% will be left as runners with trailing stops in place.
Short
by TradingAdventures
Massive Move Ahead #SOL's Next Bullish Breakout or Breakdown ? Yello, Paradisers! Could #SOL be on the brink of a major market move? Let's dive into the latest analysis! 💎#SOLUSDT is currently showing signs of a potential bullish continuation from a critical demand zone at $131.46. We've been closely monitoring #SOLANA as it follows a descending channel, and it recently broke above this formation, gaining momentum within this crucial demand area. If the price can maintain this upward momentum, a strong bullish move is highly probable. 💎For this bullish scenario to unfold, #SOL must break above the key resistance level at $134.95. A successful break of this resistance could trigger a significant rally, with the first target set at the internal resistance zone of $147.58. 💎However, caution remains essential! If the momentum falters at the demand zone, we might see a rebound from the lower support area around $127.98–$126.44. A daily close below this support zone would invalidate the bullish outlook and could pave the way for further declines. Stay sharp, Paradisers! Keep a close eye on #SOLANA's price action as the next move could be a game-changer🥂 MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Simon
Is Solana poised for a reversal?Solana’s (SOL) price has faced notable volatility in recent weeks, struggling to overcome resistance at $160. After multiple failed attempts to breach this level, SOL experienced a significant 20% drawdown towards the end of August. This decline has left many investors cautious, but recent shifts in behavior suggest a potential rebound. Key indicators now point to a possible resurgence in Solana’s price, raising optimism among traders and analysts. A key factor in assessing Solana’s potential recovery is the recent negative turn in the funding rate. This metric, which tracks the cost of holding positions in the futuresmarket, often signals shifts in market sentiment. Brian Quinlivan, Lead Analyst at Santiment, noted in an exclusive comment for BeInCrypto that the funding rate is turning negative. This indicates that the bearish sentiment may be reaching an extreme, which sets the stage for a rebound. Furthermore, the Chaikin Money Flow (CMF) indicator, which measures the cumulative flow of money into and out of an asset, has established a notable pattern for SOL. Currently, Solana’s price is trading at $132 after bouncing back from the support level of $126. For SOL to resume its upward trajectory, it must break through the local resistance at $137. Achieving this would pave the way for a push towards the $160 mark. Historical data shows that Solana has experienced similar consolidation phases between $126 and $160, suggesting a rise to this level could be next. The factors supporting this forecast are substantial, given that in the past, SOL around $126 has led to subsequent price increases. If SOL maintains its gradual upward momentum, the range-tested level of $137 could act as a springboard for further gains, making a rise to $160 possible.
Long
by paul_endeo
1
Solana's outperforming, but why is its price crashing?With a 19.14% drop last week, the price for the downtrend continues for Solana this week, with a 5.47% fall last night and breaking below the $130 mark. Further, the recent double-top reversal breaks the neckline at $138 near the 200-day EMA, and the SOL price tests the bottom support zone at $121. The demand zone at $121 has provided multiple bounce-backs for Solana since the start of 2024. However, the recent double-top reversal warns of a breakdown rally. Currently, the SOL price is trading at $127 with a Doji intraday candle following the bearish engulfing candle last night. With the long-tail formation, the underlying demand can result in a new bull cycle. In case of a bearish breakdown, the neck support level is at the $110 low and the $100 psychological mark. However, a broader market impact can result in a new low formation at the $85-$80 demand zone. On the flip side, based on the Fibonacci levels, a double-bottom reversal from $120 can find resistance at the 23.60% level at $140. A move above $140 can hint at an extended recovery for Solana.
by paul_endeo