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Solana Next Target is 202, 251 USD.. Triangle Pattern BreakoutSolana has formed a Triangle Pattern and Breakout, with the Next Target at 202 USD and a Final Target of 251 USD. Take advantage of this Great Opportunity to Earn a Potential Profit of +45% ROI and Overall +74%ROI. Check my Previous Analysis below, already reached the first Target at 174 USD with (+20% Profit). This is a Long-Term Analysis, it's important to follow Trend continuation techniques. I want to help People Make Profit all over the World. PREVIOUS ANALYSIS : Before & After,
CRYPTO:SOLUSDLong
by SasikumarMani
Solana Price Prediction: A Bullish Pattern FoundSolana is currently facing a resistance block that is preventing it from advancing. However, an intriguing bullish pattern's neckline is on the verge of breaking, which could potentially trigger a significant rally. Technical analysis suggests that this breakout might even lead to new all-time highs, driven by bullish momentum. Recent chart analysis has added to the optimism surrounding Solana, indicating that it is forming a bullish pattern known as an "inverted head-and-shoulders." The cryptocurrency's recent performance has pushed it above the 200-day, 50-day, and 20-day moving averages. At the time of writing, SOL is priced at $153.14 and appears to be struggling at the pattern's neckline. If Solana can successfully close and maintain its position above the $160 resistance level. Possibly then, it could pave the way for a push towards retesting its yearly highs around $210. This potential move would represent a substantial gain from current levels and could reignite interest in the altcoin. The broader cryptocurrency market has been showing signs of recovery from recent lows, thanks to recen BTC push towards $66000. This sentiment may provide additional support for Solana’s upward momentum, ahead too. As investors seek opportunities in the rebounding market, SOL’s approach to the key resistance level has positioned it as a focal point for traders and enthusiasts.
COINBASE:SOLUSDLong
by Sam_TCR
Solana Long Term Analysis- Solana is currently trading at 146$ - Solana is building up a strong base where I easily see Solana purging 200$ - Solana from a Spot Accumulation perspective is sitting at a very bargained price if you are still fiat then add 50% Sol here - From a swing trade perspective Solana can easily yield 20% from its current price and go up to 163-178$ - Solana's fundamentals are strong so in a major bull run you can expect Solana to easily move up to 500% - Solana tops all the crypto when it comes to transactions - Solana also tops all the cryptos when it comes to meme coins listing - After considering all these points, please avoid becoming overly optimistic and thinking that Solana at this price is the only great option, so you should invest all your funds. Instead, consider adding 50% of your desired investment size here and wait for a significant price drop. If the price doesn't drop further, you can still benefit from the 50% you've invested and let it reach your financial goals.
COINBASE:SOLUSDLong
by VKtradesimbalance
Breakout Point Is Not So Far Anymore In SOL Price Zooming out to the daily time frame, it's evident that the declining trend line is just above the current SOL price. A breakout here could indicate a significant upward movement. Since SOL and many other altcoins often follow Bitcoin's sentiment and actions, if Bitcoin can return to its previous local high of just over $65,000 and surpass it, the bull market could resume, and altcoins might start to rally. The potential bull run targets for SOL before the end of the year are $160, $200, and $260. However, if SOL drops below $120, it could be at risk, likely due to a simultaneous decline in Bitcoin. Given Bitcoin's strong fundamentals and positive sentiment, optimism remains high.
COINBASE:SOLUSDLong
by Sam_TCR
Solana On 5-Day Losing Streak: Can Bulls Make A Comeback? Solana On 5-Day Losing Streak: Can Bulls Make A Comeback? Solana has been in a free fall, after suffering bearish pressure near the psychological level of $160. The social sentiments have started to improve indicating a possible recovery in the price. Solana (SOL) price has been on a free fall for the last five intraday sessions losing nearly 15%. Moreover, except for the buying sessions, this has been a bearish dominated month for Solana. SOL price performance highlights a 22% loss in the asset's value this month. At the time of writing, Solana was exchanging hands close to $138.5 recording a nearly 1.08% loss in intraday. Let's analyze and try to figure out whether Solana could break this losing and recover in the next week? Social Sentiments Highlight Increasing User Engagement Despite the losing trend in the recent sessions, the analysts noted an important development in on-chain metrics: social metrics. The social metrics include social dominance, social volume, and activities on social media platforms. As per the analysts, the social dominance as well as social volume curve has improved in the recent sessions indicating the rising engagement of Solana on the social media platforms like X (Formerly known as twitter), Telegram etc. Moreover, the other social metrics twitter follower curve hints a positive growth of nearly 2000 users a week. The increasing engagement of the users over social media often reflects a positive impact on the asset price most of the time. Moreover, Solana boasts a market capitalization close to $64.67 Billion placing it at the 5th in the crypto space. The transaction volume has dropped to $2.19 Billion losing 9% a day. Currently, the volume to market cap ratio at 3.42% suggests low volatility in the crypto. Can Solana Continue to Slide Towards $130 Level? The recent selling pressure has widened the losses incurred this month again. Solana experienced a tough month induced with volatility. The price started off August with a sharp decline from $180 level to $110 level. Thereafter, the bulls then turned aggressive and the price recovered back till $163. Again the bearish forces dragged the price close to $140 level. From a technical standpoint, Solana price has lost the support of important key moving averages of 20, 50 and 200 days exponential moving averages indicating weakness. On the lower side, the $140 level may act as an immediate support which if breached may allow sellers to dominate till the next support of $130 level. At the time of writing, both the RSI and 14 day SMA line had stepped down below the mean line of 50. Moreover, a bearish crossover of both the lines was observed indicating a possible bearish trend continuation. Solana (SOL) experienced a significant decline, losing nearly 15% over the last five sessions and 22% this month. Despite the bearish trend, social metrics show positive growth, with increased social media engagement. The whole month has been volatile for Solana, dropping from $180 to $110, then recovering to $163 before falling again. From a technical perspective, SOL has lost support from key moving averages of 20, 50 and 200 day EMAs. Currently, the price was hovering near $140 as immediate support and may slide towards the $130 if bulls fail to defend. Both RSI and 14-day SMA indicate a potential bearish continuation.
CRYPTO:SOLUSDShort
by Ritika_TCR
1
Solana (SOL) Possbile liq$ grabSolana (SOL) For the past six months, Solana has been stuck in a flat trend and recently made a lower low. This is not bullish and is rather concerning for anyone hoping for higher levels. The price also closed the week with a 9% loss. While support at $130 has held well to date, this does not guarantee that it will be tested again in the future. Even if the trend is flat, the price action leans bearish, which could see bears return. Looking ahead, unless the overall market sentiment improves, Solana will struggle to rally again. The current resistance is at $164.
COINBASE:SOLUSDLong
by FXBANkthe8055
Decoding, The Next Possible Outcome In Solana Price Indeed, the giant-Solana had a robust fundamental, with strong community interest, but the price has been struggling at a specific supply. The last experienced a more than 1000% surge from $18 on September 2023 to $209 by March 2024. Despite the various attempts of bears, the SOL had a robust demand area of $120, and over time, it showed its robustness and remained intact. Over the larger frame, the price structure had earlier displayed a descending triangle breakout with a breach of the dynamic falling trendline from July 13th, 2024. But, this pattern was on the brink of getting nullified as the price showed uncertainty by declining up to critical support at the $160 mark and coinciding 50-day EMA band. The level has become a deciding factor for the pattern's usefulness; once it rebounds successfully, then the highs could be attained. But, on the contrary scenario, if $160 happens to be breached below with increased bear dominance, the price could hit lows. The Indicators showcased that the price has been above 50-day, and 20-day EMA bands. The fall has built a bearish cross above the zero line, where the histogram was at negative 1.99. Meanwhile, the RSI has breached the median line, which flashed at 48.35. The overall indicators depict the bearish dominance increasing, where bulls are mildly conscious, supporting the price to be sustained. Thus, it brings uncertainty in SOL prices. Investors and traders should stay cautious (DYOR). Therefore, if bearishness exceeds, then bears could eye support at $145 and $135. However, the resistance for the flip conditions is at $175 and $190.
COINBASE:SOLUSDLong
by Sam_TCR
Solana Price Structure Analysis Over Daily Chart! According to Tradingview, an all-time low was achieved by December 29th, 2022, where the low was $8.00. Comparitively to that low, the current price, as of writing has traded more than 1900% higher on the daily chart. However, the all-time high was registered on November 6th, 2021, where the high was $260. Comparatively, the current price has traded nearly 37% lower than its ATH. At press time, the Solana (SOL) price traded at $162.28, with an intraday advancement of 2%, nearly 17% of this week, and 32.5% over the past two weeks. The SOL has been showing a strong demand zone of $120, and over time, it proved unbreachable, as, despite the bearish sentiment before, the support zone remained intact. Over the broader picture, the price action appears to have formed a descending triangle, where the $120 support zone acted as a lower border, and dynamic trendline resistance acted as the upper border of the triangle. Based on the bullish thrust, it's expected to reach $170, which seems to be the upper border resistance, the larger momentum could pierce the upper border, and the break out could pop out. Where the price would retest the supply at $200, at first, and beyond this would run for recapturing the lost territories back. Indicators Perspective Of Solana (SOL) Over Daily Chart! As per the daily chart, the indicators mostly remain optimistic for its price, as the asset is showing bullishness and the rising potential price has jumped from 50-day and 200-day EMA's, and it remained above under the direct influence of the buyer's surge. Meanwhile, the MACD has displayed a strong bullish crossover, with a growing histogram at 3.24, where the MACD line is at 4.29, and the signal line is at 1.04. The RSI is increasing gradually, signifying that the Solana asset is gaining traction and moving above a median line at 63.63. Price Forecast Of Solana! If the price keeps on bulging above, then the price could meet the interruptions at the $180.0 and $190.0 mark. On the contrary, if the price fails to jump, and breaks $155 support, then the price could reach $140, as well.
COINBASE:SOLUSDLong
by Sam_TCR
Solana’s Popcat Nears $1 Billion Market Cap After Hitting ATHPopcat has emerged from the convergence of internet memes and cryptocurrency. The meme coin depicts a playful feline, and it serves as inspiration for this digital asset, which has captured the attention of investors and crypto enthusiasts as it tallies a new milestone. Popcat Scales The Crypto Food Chain Popcat has been showing a big deal of resilience since it made a foray into the memecoin space in 2020. Fast forward four years, the token tallied an incredible 180% growth in value in 30 days. The coin achieved an all-time high of $0.7542 in 24 hours, up roughly 30%. This latest achievement puts the memecoin at the top of the cryptocurrency hierarcSolana’s Popcat Nears $1 Billion Market Cap After Hitting ATH
COINBASE:SOLUSDLong
by FXBANkthe8055
1
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
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