Satoshi

Solana

Show

Read

Frenzy

<p>Solana (SOL) has shown promising signs of a bullish reversal. An analysis of SOL’s chart reveals patterns, key support and resistance levels, and future market implications. SOL’s chart on TradngView highlights a falling wedge pattern, while crypto analyst tradecitypro emphasizes the potential for SOL’s price movement based on Bitcoin’s trends.</p>
<h2 class="wp-block-heading" id="strong-solana-sol-price-analysis-strong"><strong>Solana (SOL) Price Analysis</strong></h2>
<p>The falling wedge pattern, marked in red, indicates a temporary bearish phase. In this phase, the price contracts between converging trend lines, typically a bullish reversal signal. Notably, SOL’s chart shows a falling wedge preceding a significant price increase, suggesting an upcoming reversal from the downtrend.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="461" src="https://captainaltcoin.com/wp-content/uploads/2024/05/image-793-1024x461.png" alt="" class="wp-image-496776" srcset="https://captainaltcoin.com/wp-content/uploads/2024/05/image-793-1024x461.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-793-300x135.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-793-768x346.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-793-1536x692.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-793-2048x923.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-793-333x150.png 333w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-793-100x45.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-793-777x350.png 777w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-793-788x355.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-793.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><em>SOLUSDT daily price chart Source: </em><a href="https://www.tradingview.com/x/U8x42gF3/" target="_blank" rel="noopener noreferrer nofollow"><em>TradingView</em></a>
 </figcaption>
</figure>
<p>Identified with a turquoise line, this represents a solid support level where the price previously halted its decline and began to rise. This strong support indicates buying interest that could stabilize future price declines.</p>
<p>Following the falling wedge, SOL’s price enters a rising channel pattern. This pattern is characterized by higher highs and higher lows within upward-sloping parallel lines. Typically, this pattern signals a bullish continuation, although it requires confirmation as it can sometimes break downward.</p>
<p><strong><em>Read also: <a href="https://captainaltcoin.com/why-are-core-and-beam-crypto-prices-up-major-exchange-announcement-and-bullish-potential-spark-buying-frenzy/" target="_blank" rel="noopener noreferrer nofollow">Why Are CORE and BEAM Crypto Prices Up? Major Exchange Announcement and Bullish Potential Spark Buying Frenzy</a></em></strong></p>
<h3 class="wp-block-heading" id="strong-sol-technical-indicators-strong"><strong>SOL Technical Indicators</strong></h3>
<p>The RSI for SOL hovers around 57.99, which is below the overbought threshold of 70. This suggests room for further upward movement before the asset becomes overbought. The MACD line (blue) is above the signal line (orange), and both are above the baseline. This positioning indicates bullish momentum, further confirmed by green bars on the histogram, suggesting that the bullish momentum is strengthening.</p>
<p>The current price of SOL is $169.06. Two potential targets are set at approximately $200 and $220, marked by dotted red lines. These targets are based on the trajectory within the rising channel and likely resistance levels.</p>
<p>The current setup with the rising channel and bullish indicators suggests a positive short-term outlook for SOL. The targets of $200 and $220 are achievable if bullish momentum continues and market sentiment remains positive. It’s crucial to monitor for any potential break below the rising channel. A break could invalidate the bullish forecast and indicate a trend reversal or consolidation phase.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">Milei Moneda</a></strong> is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president&nbsp;known for his libertarian and pro-Bitcoin stance. You have an opportunity with the <strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">ongoing low presale price</a></strong> to get in early!</p>
    <p><em>Sponsored</em></p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="strong-tradecitypro-s-sol-analysis-strong"><strong>Tradecitypro’s SOL analysis</strong></h2>
<p>Tradecitypro’s analysis on TradingView highlights SOL’s current market position and potential future movements. SOL has been in a parabolic movement but is currently losing momentum. If the weekly candle closes as it is now, there is a potential for breaking the curved trendline.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="361" src="https://captainaltcoin.com/wp-content/uploads/2024/05/image-794-1024x361.png" alt="" class="wp-image-496784" srcset="https://captainaltcoin.com/wp-content/uploads/2024/05/image-794-1024x361.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-794-300x106.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-794-765x270.png 765w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-794-1536x542.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-794-2048x723.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-794-425x150.png 425w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-794-100x35.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-794-992x350.png 992w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-794-788x278.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-794.png 1233w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>The critical support level is set at $100, particularly if Bitcoin continues to drop and the market remains bearish. Immediate support is around $136, with a recommended stop loss below this level. If this support breaks but is a false breakout, consider re-entering.</p>
<p>For long-term holding, buy SOL after a breakout and stabilization above $205. Alternatively, wait for a reaction at the $100 support level before making a purchase.</p>
<p>Activate your stop loss below $136 and consider re-buying if the support break turns out to be false. Additionally, closely watch Bitcoin’s movement, as Solana’s next significant move might depend on Bitcoin’s performance.</p>
<p>The analysis presents a bullish scenario for Solana in the near term, supported by technical patterns and indicators. However, traders should stay vigilant for potential shifts in market conditions that could impact these projections.</p>
<p><em><strong>Join&nbsp;<a href="https://captainaltcoin.com/go/aethir/" target="_blank" rel="noopener noreferrer nofollow">Aethir’s exclusive airdrop</a>&nbsp;and earn badges by participating in events or holding community tokens. Complete tasks and secure your spot before the snapshot date is revealed!</strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/REBEL-SATOSHI-RECQ-MEME-COIN-qndahijqjwle5mml7gg8my30uqig0eo11vxmtat25a.png" width="500" alt="Check $RECQ Meme Coin" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-recq-meme-coin-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check $RECQ Meme Coin</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy RECQ Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Serves as the base currency for all transactions within the Rebel Satoshi platform <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>ICO stage, offering tokens at a discounted price <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/solana-price-analysis-key-sol-patterns-signal-upswing-to-220-amid-bitcoins-btc-influence/" rel="noopener noreferrer nofollow">Solana Price Analysis: Key SOL Patterns Signal Upswing to $220 Amid Bitcoin’s (BTC) Influence</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Solana Price Analysis: Key SOL Patterns Signal Upswing to $220 Amid Bitcoin’s (BTC) Influence

目錄

CaptainAltcoin

在 2024年5月25日發表的其他文章

Abu Dhabi Bans Cryptocurrency Mining on Farms

Vitalik Buterin Slammed by Bitcoin Maxi, but Erik Voorhees Comes to Rescue

Breaking: Terra Luna Classic Set For v3.0.1 Upgrade, LUNC Price Rally In June

Nvidia has ‘near zero chance’ of outperforming Bitcoin this decade, say experts

Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out

This Altcoin Ignored the SEC’s Warning: Voting Begins to Distribute Fees to Token Holders

訂閱免費電子報，每天收取加密貨幣最新動態！