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Solana (SOL) Price to Continue 16% Rally With Bullish CuesSolana’s SOLUSD price has good things ahead of it since the altcoin has been performing well for the past two weeks. The investors are also betting on a price rise, which is evident in the funding rate, as they aim beyond $150. Solana Sees Positive Cues Solana’s price benefits from the broader marker bullish cues, which is evident in the Relative Strength Index (RSI). The RSI has entered the zone above the neutral line for the first time in a month, marking a significant shift in market sentiment. This recent change is largely attributed to a prevailing bullish market trend, which has been driving up prices. The surge in Solana’s price has been a key factor in fueling this newfound optimism and boosting investor confidence
COINBASE:SOLUSDLong
by FXBANkthe8055
1
Solana Price Crashes Below $130: Crypto Investors In Panic?Solana Price Crashes Below $130: Crypto Investors In Panic? Solana price crashed below the $130 level breaking the dynamic support of 200 day EMA. The recent fall in the broader market has triggered a panic among the short term Investors. Solana has crashed over 39% from its recent high of $208 formed in March 2024. Solana price has crashed below the psychological $130 level and the weakness in the broader markets have triggered a panic among the short term traders and investors. The price has slumped, breaking the 200 day exponential moving average thus shifting the long term trend into bearish territory. At the time of writing, the SOL price was exchanging hands close to $126.3 recording a negative intraday development of 1.73%. The price currently hovers near the annual lows which may break if the panic selling resumes. Transaction Volume Grows, Despite Fall In The Price! Recently, Solana crashed after failing to gain ground near the psychological $150 level. The strong selling pressure dragged the price near the annual lows of $130. The SOL price is down over 23.7% as of now this month and is at a risk of falling towards the next $100 demand zone. Moreover, the volume analysis shows that the intraday transaction volume has surged by over 207.21% to $2.24 Billion a day. Correlating it with the price it was observed that the transaction volume has constantly been increasing as the price resumed its fall below the $150 level. It points to the rising participation of the sellers which may result in a continued selloff. The volume to market cap is low at 3.80% indicating low volatility. Solana ranks 5th in the cryptoverse with a live market capitalization of $58.487 Billion. Can Solana Crash Towards $100! The Solana crypto seemed to be under a strong selling pressure at the moment which may trigger a breakdown below the annual support of $125 level. Now, If the bulls fail to establish their presence near the $125 level, then the panic selling may resume towards the $100 level. From a technical point of view, the price has slipped below the all the key exponential moving average of 20, 50 and 200 days indicating a bearish reversal in the long term as well as short term. At the time of writing, the RSI line was placed near $30.32 points and that of the SMA line was placed near $36.61. Both the lines were hovering below the mean line indicating weakness over the charts. Moreover, a bearish crossover was observed on the charts indicating a trend continuation. Conclusion. Solana price has plummeted below $130, signaling a shift to a bearish trend as it broke the 200-day exponential moving average. Moreover, the intraday trading volume spiked by over 207% to $2.24 billion, aligning with a price drop below $150 and suggesting increased seller activity. Despite low volatility indicated by a 3.80% volume-to-market cap ratio the crypto has been under a strong selling pressure. The SOL price has fallen near an annual low at $125. Now, if the support at $125 fails, SOL crypto may tumble towards $100. Technical indicators show a bearish reversal, with RSI and SMA lines below their mean, hinting at ongoing weakness and potential trend continuation.
BITSTAMP:SOLUSDShort
by Ritika_TCR
1
Can New Solana Meme coin, Solciety Launch Improve Solana PriceCan New Solana Meme coin, Solciety Launch Improve Solana Price Solciety (SLCTY), a meme coin on Solana blockchain, is set to launch on June 18, merging politics and memes. Solana crypto slumped nearly 5.04% in intraday snipping of most of the gains in the last two sessions. Solana price gathered confidence in the last two sessions amid the buzz of a new meme coin launch which was based on the Solana blockchain. However, the bears seemed to be returning back in intraday as the price has lowered again, snipping off most of the gains in the last two sessions. Moreover, another Solana based meme coin Solciety (SLCTY) is making buzz in the cryptoverse ahead of its launch. The coin is set to be launched on June 18 creating an excitement among the Solana and meme community. Solciety (SLCTY) All Set TO Be Launched Tomorrow? Solciety, a meme coin based on Solana blockchain is set to be launched On June 18th. It aims to merge politics with the meme culture. The heart of Society innovation lies in the Meme campaigner, a state-of-the-art platform for meme generation. This tool allows users to craft unique memes with ease, choosing from a vast selection of over 200 features, including various traits, backdrops, and typefaces. To ensure the content's relevance, the Meme Campaigner included the latest news and current affairs, allowing users to create memes that resonate with the current ongoing trend. The presale of this meme coin, Solciety is strategically structured to reward early supporters. Spanning for the last 30 days, the presale stages SLCTY tokens at incrementally rising prices. Moreover, The initial phase allows investors to secure SLCTY tokens at a price of $0.000963. whereas, the price is anticipated to climb to $0.002167 by the final stage of the presale. A total of 3 Billion SLCTY tokens is to be allocated. Can Solana Recover Amid The Memecoin Launch? Moreover, the last two sessions went in green for Solana and the price recovered towards the $150 level. However, the bears made a comeback again in intraday today wiping off most of the gains. At the time of writing, the Solana price was exchanging hands close to $143.45, recording an intraday drop of over 5.04%. Moreover, the daily chart showcases the formation of a declining channel pattern with the price currently hovering near the recent $140 level support. Now, if the price breaks below the $140 level, it may slide near the lower demand zone of $130 level. On the higher side, the bulls need to surpass the recent dynamic resistance of 20 day EMAs at $157 to make a bullish trend reversal. Conclusion. Solana price rose recently due to excitement over the new meme coin, Solciety (SLCTY) which is set to be launched on June 18. However, the price fell to $143.45, a 5.04% drop, as bears returned in today's intraday trading. At the time of writing, The price was hovering close to the $140 support level. The breakdown below the recent support could lead to a further decline to $130. Conversely, for a bullish reversal, the price must overcome the 20-day EMA resistance at $157. The market's focus is on whether Solana can maintain its gains amidst the fluctuating interest in the new meme coin. Disclaimer The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
BITSTAMP:SOLUSDShort
by Ritika_TCR
Solana Crashes Below $150 Level: Is A Major Correction Looming?Solana Crashes Below $150 Level: Is A Major Correction Looming? Solana Failed to hold above an important psychological level of $150 indicating loss of bulls interest. The RSI and 14 day SMA line made a bearish crossover indicating the extended selling pressure in the short term. Solana crypto is unable to find grounds and has crashed below a major psychological level. The global market cues have extended the losses of the SOL investors thus creating a fear among the Investors. However, the long term trend still lies on a bullish side. The recent price drop has invalidated the short term bullishness. The price has neared a strong demand zone where the bulls might try to push the price higher. However, bearish crossover in the RSI points towards the extended correction. At the time of writing, the SOL crypto was trading close to $144.8 recording a positive intraday development of 1.58%. Solana is the fifth largest cryptocurrency in the ecosystem with a live market capitalization of $67.04 Billion USD. Development Activity Shows Positive Growth In the Recent Sessions! Solana crypto has been on a continuous fall for the last two consecutive weeks eroding over 12% of its market value. Despite noticing a significant fall in the recent sessions, the crypto still boasts at a profit of over 42.38% on a year to date basis. While other metrics are drawing parallelly to the price i.e. declining, the development activity has noted a positive shift in the last one week. As per the data obtained by a financial website, app.santiment.net, the development activity as well as development contributors count has surged by threefold in a span of one week. Furthermore, development activity serves as an indicator of ongoing projects and enhancements within the cryptocurrency's ecosystem. Typically, an uptick in development activity is associated with a positive influence on the cryptocurrency's price. Can SOL continue to Correct or Show A Recovery? From a technical point of view, the price has fallen below the 50 day Exponential moving average indicating weakness over the charts. However, the long term trend still lies on the positive side above the 200 day EMA. The daily chart witnesses the formation of a declining parallel channel pattern with the price respecting the boundaries. Currently, the price is approaching the key $140 mark, which is considered a significant psychological level. A rebound from this support zone could potentially restore investor confidence. However, the bulls need to surpass the $160 level in order to regain the trend control. The bears are dominating at the moment which may drag the price towards the $130 level if bulls fail to defend the recent support. At the time of writing, RSI line and 14 day SMA line have withdrawn below the mean line indicating weakness over the charts. Moreover, a bearish crossover of both the lines was noted on the chart signaling a possible continuation in the short term. Conclusion. Solana crypto dipped below a critical $150 level, causing investor concern amid negative global market trends. With a current price of $144.8 Solana is the fifth largest by market cap at $67.04 billion. Moreover, the development activity has tripled in a week, suggesting positive ecosystem growth. From a technical outlook, Solana has dropped below the 50-day EMA, indicating short-term bearishness, yet above the 200-day EMA, maintaining a long-term bullish stance. Currently, the price is nearing $140 support, with a potential bounce back to restore confidence. The technical indicators suggest continued weakness. Disclaimer The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
BITSTAMP:SOLUSDLong
by Ritika_TCR
Solana Crypto Retreats Near $150 level: A Buy On Dip OpportunitySolana Crypto Retreats Near $150 level: A Buy On Dip Opportunity? The volume inflow has dropped by over 60% from $4.5 Billion to $2.06 indicating the losing interest of the sellers. The Solana crypto may get the buyers back near the psychological level of $150. Solana crypto has been in a correction phase for the last two weeks after bulls failed to surpass the $190 level. The impending Federal Reserve interest rate decision and Consumer Price Index (CPI) data have added to the market's volatility, pulling Solana's price toward the $150 mark. At the time of writing, the SOL crypto was exchanging hands close to $152.60 recording a 2.16% rise in intraday. while the recent price crash has raised concerns among the investors while some are looking at it as a buy on dip opportunity. However, it's essential to determine whether now is the opportune moment to initiate a long position or if further price reductions are on the horizon. It may help to extract more returns with less risks. Volume Inflow Dropped Significantly! Over the past two weeks, Solana crypto has been declining all the way from $190 to CMP at $150. The volume analysis shows that there has been a significant decline in the volume inflow in the recent sessions. The volume inflow has dropped by over 60% from $4.5 Billion to $2.06 Billion. The drop in the volume inflow indicates the losing interest of the bears. Also several indecisive candles may be observed on the charts which furthers add confirmation to it. The volume to market cap ratio at 3.51% suggests low volatility. SOL ranks 5th in the overall crypto market with a live market capitalization of $70.23 Billion. Can Bulls Reclaim the $170 Level? The daily chart witnesses the formation of a declining parallel channel pattern. Currently the price has neared a psychological level of $150 which may act as a strong support. The bears hold the grip of the short term trend indicating the price at a risk of falling more. Now, until the price is maintained in the channel, it may continue to form lower highs and fall more. However, if the bulls stage a comeback the SOL price may snip off the losses and reclaim the $170 level. The 200 day Exponential moving average points to a positive trend in the long run while the short term EMAs 20 and 50 day points towards an ongoing correction in the short run. Conclusion. Solana (SOL) is experiencing a correction due to market volatility heightened by Federal Reserve and CPI data anticipation. Currently trading around $152.60, The drop in volume inflow suggests the losing interest of the bears. Moreover, technical analysis shows a declining channel pattern, with $150 as potential support. If the bearish trend prevails, the price may decline further. whereas, a bullish reversal could lead to recovery towards $170. Long-term trends are positive, but short-term indicators suggest correction. Disclaimer The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
BITSTAMP:SOLUSDLong
by Ritika_TCR
Is Solana Crypto Ready To Take A Big Leap Towards The $200 Mark?Is Solana Crypto Ready To Take A Big Leap Towards The $200 Mark? Solana crypto is exhibiting consolidation near the 20-day Exponential Moving Average (EMA), hinting at a potential breakout in the upcoming sessions. The Relative Strength Index (RSI) and 14-day Simple Moving Average (SMA) have both crossed the mean line, signaling a bullish trend on the horizon. Solana crypto has exhibited a steady pattern, consolidating at the 20-day Exponential Moving Average (EMA) across the last six intraday sessions. This stabilization phase followed a pullback from the upper resistance level of around $190. Furthermore, the pattern of price stabilization succeeding a decline suggests the formation of a 'higher low' on the daily chart. Additionally, a notable shift in the volume inflow and the total value locked (TVL) hints at a bullish trend emerging. Let's delve deeper into the same and explore the potential trajectory of Solana's (SOL) price in the forthcoming trading sessions. TVL On The Rise While Volume Dropped As per data obtained from a financial website defillama.com, Solana has witnessed a notable increase in its Total Value Locked (TVL). In April, there was a decrease in TVL from $4.87 billion to $3.86 billion, however it has since rebounded to $4.97 billion. Moreover, TVL represents the amount of capital that is staked or secured within the blockchain. A gradual increase in TVL can be interpreted as a shift in market engagement, a growing demand for the project, and a heightened commitment from investors. In addition, the recent sessions have seen a decline in trading volume concurrent with a dip in Solana's price, suggesting a waning interest from sellers. This could potentially signal an upcoming bullish trend. Is Solana Ready For A Bull Run? The technical analysis indicates that the long-term trajectory for SOL price is bullish, remaining well above the crucial 200-day Exponential Moving Average (EMA). However, In the near term, the price appears to be retracing, potentially setting the stage for an upcoming bullish phase. Currently, the price is consolidating, and this phase could conclude if buyers manage to push the price beyond the $175 threshold. Should the price sustain an upward trend, short-term traders and investors might look at $188 and $200 as subsequent levels for realizing profits. Conversely, if the Solana (SOL) price continues to trade below the $175 level, it may persist in consolidation and could further correct down to the $160 and $150 support levels. Conclusion. Solana (SOL) crypto is consolidating near the 20-day EMA after a decline from $190, indicating a potential 'higher low' formation. TVL has rebounded from $3.86 billion to $4.97 billion, suggesting increased market engagement and investor confidence. Despite a recent volume decrease, the long-term outlook is bullish above the 200-day EMA. Now, If Solana surpasses $175, it may target $188 and $200. Otherwise, it could correct to $160 or $150. This analysis points to a possible bullish trend if the consolidation phase ends with a breakthrough above the $175 level.
BITSTAMP:SOLUSDLong
by Ritika_TCR
1
Solana’s Strong Performance Makes It To Top 5!Solana’s Strong Performance Makes It To Top 5! This week, Solana (SOL) exhibited impressive growth, with a 20.8% price increase, ranking it fourth among the top crypto gainers. It holds the 5th spot in market capitalization, valued at $77.36 billion in the overall crypto space. The significant price surge of Solana is attributed to its achievement of surpassing Ethereum in profitability for the first time, marking a milestone of over $2 million in economic value. The daily chart analysis suggests that Solana has the potential to climb to the $200 mark before encountering significant resistance. The technical indicators forecast a favorable trend continuation.
CRYPTO:SOLUSDLong
by Ritika_TCR
indicates bullish momentumOver the past 24 hours, the Solana price (SOL) has risen by up to 5%, and technical indicators suggest a bullish rally that could greatly benefit the crypto asset this month. In the last month, Solana has shown positive growth, increasing by more than 21.85%, according to CoinMarketCap. At the time of writing, the asset is trading at $167.60, and there are expectations for it to exceed the $200 mark, with potential for further growth from there. Therefore, if Solana's value surpasses the $180 resistance level, it could indicate a renewed bullish trend, potentially driving the cryptocurrency towards the $185 mark. Sustaining this level might pave the way for further movement towards the $200 resistance threshold. Conversely, a reversal in trend could lead to a decline in SOL value to the $155 support level. Continued dominance by sellers could push the price towards a lower support zone at $125, signaling a potential bearish phase in the market. The Relative Strength Index (RSI) currently indicates bullish momentum, with a reading of 62.02. It is also trading above the 20-day and 50-day Exponential Moving Average (EMA), highlighting its bullish potential.
COINBASE:SOLUSDLong
by Sam_TCR
Solana Beats ETH In Profitability For The First Time: What’s NexSolana Beats ETH In Profitability For The First Time: What’s Next Solana's profitability outshines Ethereum, crossing the $2M mark in economic value, while Ethereum sees a post-peak downturn due to the EIP-4844 rollout. Post-event optimism has fueled investor confidence, casting the $200 threshold as the new benchmark for Solana's ascent. Solana has surpassed Ethereum in terms of profitability for the very first time. As per Leon Waidmann who is a popular on-chain analyst highlighted that Solana recently eclipsed Ethereum in daily economic value. He further added that the analysis does not include Ethereum's role as a medium of exchange and energy source on its various Layer 2 (L2) solutions. t.co Leon Waidmann | On-Chain Insights🔍 (@LeonWaidmann) May 15, 2024 This development underscores Solana's escalating influence within the blockchain sphere and suggests a possible shift in the dominance among top blockchain platforms. Let's delve into the implications of Solana's remarkable progress and its potential effects on the future valuation of SOLNA crypto. The Tectonic Shift in Blockchain: Solana's Emergence A detailed examination of Solana and Ethereum's economic values revealed that from February to May 2024, Ethereum's economic value soared to FWB:40M before experiencing a decline, eventually leveling out between $10M and $15M. In contrast, Solana demonstrated a consistent upward trajectory, ultimately eclipsing Ethereum with an economic value slightly above $2M by May 12, signifying a pivotal shift in the blockchain landscape. For the first time ever, @solana has recently eclipsed @ethereum in daily economic value or "revenue" for Boomers.Friendly reminder that CRYPTOCAP:SOL is currently 1/5th the value of CRYPTOCAP:ETH . pic.twitter.com/darZVOXDYz— ◢ J◎e McCann 🧊 (@joemccann) May 14, 2024 The term "total economic value" encapsulates the aggregate value of all network transactions over a given timeframe, encompassing transfers, trades, and smart contract engagements, thereby serving as a barometer for the blockchain's comprehensive activity and practicality. Moreover, Solana's capacity to process thousands of transactions per second (TPS) at a substantially lower cost than Ethereum has rendered it a preferred platform for various applications, including decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized applications (dApps). This increase in utilization and adoption has played a crucial role in Solana's landmark accomplishment. Investors Fueled Confidence: Can Solana Eye $200 As Next Milestone? At the time of writing, Solana had reported a positive development of 7.07% intraday, surpassing the 50-day exponential moving average. Despite this gain, it remains within bearish zones. The immediate resistance is at the $160 mark, and overcoming this could pave the way to further gains, potentially reaching $175 and the significant $200 milestone. Should Solana break past the $160 resistance, it could signal the conclusion of its corrective trend, potentially initiating a bullish phase that might lead to a new high for the year. Nonetheless, a broader market rally would be essential to sustain this upward momentum.
CRYPTO:SOLUSDLong
by Ritika_TCR
Solana appears to be gaining momentumThe price of Solana (SOL) has already led to the formation of a falling wedge pattern and given the breakout from it, the continuation in the breakout is anticipating a 25% potential rise. The main cause of this rally appears to be the increasing interest from institutional investors. Following a turbulent start to 2024, Solana is poised to regain traction. This asset has been frequently considered a possible rival to Ethereum, and there seems to be a resurgence this week with a 16.05% increase. This renewed interest from institutional investors could be the spark SOL was looking for. In the same way, Solana's technological benefits and flourishing environment are once more capturing the interest of key figures in the cryptocurrency market. In addition to these positive basics, the theory of technical analysis also backs up the idea of a soon-to-come increase. At the moment, SOL is trading around $146.92, slightly under a significant resistance point of $157. If Solana can surpass this resistance area, it may trigger a bullish surge, targeting $187 based on the falling wedge pattern theory for a potential 25% increase from current prices. Nevertheless, it is vital to monitor the $137 support level. Dipping below this level could challenge the optimistic outlook and potentially cause SOL to drop to $125 if a breakdown occurs. Solana appears to be gaining momentum as it attracts investments from both institutional and retail investors, with the tide now in its favor. If the falling wedge pattern is validated, SOL may experience a substantial 25% increase in the coming weeks.
COINBASE:SOLUSDLong
by Sam_TCR
1
SOL indicates a strong bullish trendThe analysis of the daily chart for SOL indicates a strong bullish trend, suggesting the possibility of further upward momentum for Solana. A bullish indication has been triggered by a breakout from a bearish channel pattern on the daily chart. This sudden increase indicates a change in power from those selling to those buying, indicating that SOL is now ready for more upward momentum. As a result, the upcoming significant positive target is approximately $160.0, indicating the possibility of ongoing price growth in the near future. Trading at around $154.34, the price is upheld by consecutive green candles and a doji candle since early May, signifying continued purchasing activity. The constant backing at $120.0 has enabled Solana to sustain a slow yet stable climb, offering the possibility of testing higher resistance levels. The Relative Strength Index stands at 51.38, indicating that the market is not in either an overbought or oversold state, allowing for possible price growth without hitting overbought levels. In addition, the Moving Average Convergence Divergence indicator also confirms this positive forecast, with the MACD line staying higher than the signal line, and the histogram indicating a growing bullish momentum with a value of 1.93. As on the daily chart, Bulls may target the $160 resistance, with a hurdle at $175.0 beyond that. The $120.0 support provides a strong buffer against downturns, but breaking it could lead to a decline towards $110.0.
COINBASE:SOLUSDLong
by Sam_TCR
SOLUSD sell on rise till recent high not break On Our Harmonic pattern indicator based trade setup take trade as explained below :- Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target , When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% .. Please note:- It's working on news based and volitile market very well so exit if SL hit
COINBASE:SOLUSD
by JaiPrakashShuklaHarmonicTrader
FTX Sells $230M in Solana Tokens Amid Recovery EffortsSOLANA Urgent Update: FTX Sells $230M in Solana Tokens Amid Recovery Efforts ➡️ SOL Sale Details: ▪️Amount Sold: 1.8 million #Solana tokens ▪️Buyers: Galaxy Trading and Pantera Capital ▪️Price Range: $95 to $110 per token ▪️Unlocking Period: 4 years ➡️ Market Chart Analysis Update: ▪️Current Chart Analysis: CRYPTOCAP:SOL is showing bearish signs, struggling to maintain above $127. ▪️Potential Downside: If it breaks below $127, prices could drop to between $70-$80. ▪️Historical Note: #SOL was priced at just $8 about a year ago. ▪️Important Note: Keep an eye on the red trend line; crossing it could mean Solana becomes super bearish. ➡️ Discussion Point: Could Solana hit $50? What are your thoughts given the current market conditions and recent sales? Join the discussion and share your views!
BITSTAMP:SOLUSDShort
by CryptoPatel
1
Solana Price Shows Consecutive Gains: Are Buyers Taking Charge? The Solana price witnesses the formation of a bullish pin bar candlestick on the daily chart. The daily chart showcases that the SOL price is stuck between the 50 day and 200 day EMA. The Solana price has been trading higher on the second consecutive day and is trying to stretch higher after stabilizing above the 200 day EMA. The price surge may help the crypto recover the recent losses caused after a double top pattern formation near the $200 level. The daily chart suggests that the SOL crypto loomed sharply after the buyers failed to surpass the $200 level. A double top pattern was observed after which the price dropped breaking below the 50 day Exponential moving average. Currently, the Solana price is stuck between the 50 day EMA on the higher side and the 200 day EMA on the lower side. The long term trend outlook is bullish until the price is maintained above the 200 day EMA. However, the short term trend outlook seems to have weakened after the recent fall. Now, the breakout or breakdown on either side of the EMA may indicate a clear trend in the short term. Solana Crypto: Social Sentiment Data Study The social dominance and social volume of Solana price reveals the activity performed by the social media users. Social media tools like Twitter (X), Telegram, Instagram are a medium to increase the awareness and news about the SOL crypto. The above chart reveals that the social volume and social sentiments were comparatively high in December and dropped in January and February. However, a sharp growth in the social volume and social sentiment was observed in March. The social dominance was 2.8% in February which surged to 12.1% by the end of March suggesting a 600% growth. However, the social dominance curve witnessed a drop in April and currently stands at 6%. The Sentiments Curve Suggest A Slightly Positive Outlook. The weighted sentiment data displays the short term bias among the traders and Investors. As per the chart, the weighted sentiment was bullish in January and turned negative in February indicating a short term correction. Moreover, the overall sentiments turned positive in March and a sharp rally was observed on the charts. Currently, the weighted sentiment curve has fallen back near the mean line indicating a short term correction in the price. The short term trend outlook is neutral to slightly bullish on a combined analysis of sentiment curve and price data. Solana Crypto Forecast 2024 The analysts have a wide range of price targets for April 2024. The most optimistic view of analysts assumes the Solana price could advance to a high of $202.05 suggesting a potential gain of over 39.3%. The lower price target which the crypto could attain as per the analysts is $108.7 if it breaks the recent support and 200 day exponential moving average. Conclusion. Solana price is rising for the second consecutive session hinting at a recovery from recent losses. Recently, the buyers failed to break above the recent swing high and psychological level of $200 triggered a profit booking and slumped below the 50-day EMA. Currently, the SOL crypto is wedged between the 50-day and 200-day EMAs suggesting a bullish long-term outlook but a shaky short-term trend. Also, Social media buzz, reflected in social volume and dominance, peaked in March, signaling increased interest. The sentiment data is neutral to mildly bullish, suggesting a possible short-term price correction. The Breakout of the EMAs on either side may indicate a clear trend. Technical levels: Support levels: $122.61 and $108.37 Resistance levels: $204.09 and $224.86 Disclaimer The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
CRYPTO:SOLUSDLong
by Ritika_TCR
the price is showing a surgeThe price actions show a fierce battle between bulls and bears at the supply level, after a long bullish rally on the daily chart. the price action highlights that the price is trying hard to sustain at the upper levels. At the time of publishing, the price is showing a surge of 0.90% with the price trading at $181.20, the price is trading above the 20-day and 50-day EMA band. Moreover, the MACD histogram has started converging and the RSI is at 53.15 approaching 14-SMA to cut from below. Therefore, if the price manages to maintain support at the $170 price level, the price could advance higher from the supply level and could blast upward to achieve targets like $200, and $210. However, if the SOLANA price decreases below from $170 price level, it could deteriorate below and towards lower levels.
COINBASE:SOLUSDLong
by Sam_TCR
the Solana asset is showing bullish signs The price of Solana crypto has formed a mighty comeback, beating its previous high level, beginning from a major support level of around $81.0. The SOL has already gone past its previous high price mark of $121.0 and has banged the above resistance level reaching new price peaks. At the time of publishing, the crypto had inclined by 4.17% in the last 24 hours and was trading at $170.91 at press time. Therefore, if the demand for Solana increases unexpectedly more on the upside, the asset price could continue to jump from the current level. Then the next goal for the price could be to reach $200.0 while the resistance would be at $185. It further exhibits a great price surge possibility to new peak levels. As price structure shows good inclination from the current resistance turned support level of $121.0. On observing the price chart data over the daily chart, the Solana asset is showing bullish signs and the price structure presents the capacity over the daily chart that it has the potential to extend further. It has performed well in the past week, month, and quarter with a 29.14%, 51.32%, and 123.39% surge respectively, implying a solid uptrend. Moreover, the SOL crypto asset is revealing bullish potency and rising capability as it maintains above major 20 and 50-day EMA bands. However, if the Solana crypto price fails to stay above the $160.0 level, it could decline further and could reach $140.0 as well.
COINBASE:SOLUSD
by Sam_TCR
Solana - New AnalysisHello Traders! 👋 BITFINEX:SOLUSD Since our last analysis, we've established a new high, now representing our Wave (3). While there's potential for another significant upward surge in Wave (3), it's increasingly probable that the wave has reached its peak. The anticipation is that Wave (y) of (4) will ideally target the price range between $47 and $40. The exact structure of the correction remains uncertain, so we must stay nimble and be prepared for shifts in the micro wave counts. However, my expectation is that we'll witness substantial momentum around the 38.2% Fibonacci level. Exciting times ahead! 📊✨
BITFINEX:SOLUSDLong
by stromm_by_wmc
Bid SOLETH perp and hold until ATH SOL trades to ETH; not to USD. SOLETH moved from 2% to 3% in a ziffy. By the looks of it, all set to move to 6%, or double in some time. This consolidation is a good time to bid. 2.131% at the weekly demand zone, is a great place to get a high leverage position. 2.131% (or 21.31 in this chart) was the lowest it was before the FTX saga. Not going below. Anywhere below 2.6% is a good bid. Acquire perp in this range without liquidation risk, and don't sell until ATH.
CRYPTO:SOLUSDLong
by xTako