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SOL Price Action: Rejection at Key Internal Liquidity ZoneGreetings, traders and crypto enthusiasts! Lord MEDZ back again with a detailed analysis on Solana (SOL), a top performer in the crypto market that’s currently facing some significant price action. Based on my observations, using daily and lower timeframes, SOL has revisited a key internal liquidity zone (ITL) and has rejected sharply at the 50% mark of an imbalance left by a previous drop. Let’s break this down and explore what could come next for SOL’s price action. Revisiting the Internal Liquidity Zone (ITL) In this particular case, the ITL is a zone where price previously dropped rapidly, leaving behind an imbalance in the market. This imbalance means there was an overwhelming amount of selling, with very little buying, which caused the price to move quickly downward. As a result, a sell-side liquidity zone was created, along with a buy-side imbalance that the market would eventually need to fill. Here’s what happened: During the rapid drop, sell orders dominated the order book, creating an imbalance between sellers and buyers. This imbalance left a gap in price where little buying had taken place, which is a magnet for future price action. As price retraced, it tapped back into this ITL and tested the 50% mark of the gap, which is often a key area of interest for both buyers and sellers. This level represents the halfway point of the imbalance and is a common target in price action trading as market participants look to either take profit or place new trades. Price Rejection at $52: The 50% Mark of the Gap SOL’s price action recently revisited this ITL and rejected sharply at around the $52 level, which corresponds to the 50% mark of the imbalance zone. Here’s why this is important: Imbalance Filling: In market structure, gaps and imbalances are often filled or partially filled over time. In this case, the market retraced and tapped into the 50% zone of the sell-side imbalance, but it failed to break through, suggesting that selling pressure is still strong at this level. Sell-Side Liquidity Dominance: The rejection at $52 indicates that sellers are defending this level, and there isn’t enough buying strength to push price higher. This is a sign that the market could be preparing for a move lower, especially as it seeks to target external liquidity zones. Potential Targets: External Liquidity Zones at $110 and $104 With the rejection at the internal liquidity zone at $52, my attention is now on the external liquidity zones below. Based on the current market structure and order flow, the next key levels to watch are $110 and $104. External Liquidity Zone at $110: This is the first major point of interest (POI) for sell-side liquidity, marked by equal lows. If price continues its bearish trend, we could see a sweep of liquidity around this level as sellers continue to dominate the market. External Liquidity Zone at $104: The next target would be $104, which represents another significant liquidity area where buy orders may be resting. This level is another POI, and price is likely to react here before determining its next direction. What Could Happen Next? Given the rejection at $52, it appears that SOL is preparing for a further move down toward these external liquidity zones. Here’s what I’m watching for: Continued Bearish Order Flow: If sell-side liquidity continues to dominate, we could see SOL make its way toward $110 and $104, where liquidity is likely resting. These levels represent areas where the market may look to rebalance the price after such a sharp rejection. Break and Retest: If price manages to break below these external liquidity zones, we could see a further bearish move, potentially toward deeper support levels. However, if buyers step in at $110 or $104, we could see a bullish reaction and possibly another attempt to revisit the $52 level. Final Thoughts: Watching the Liquidity Zones Solana’s price action is currently focused around liquidity zones, and the recent rejection at $52 suggests that the market is gearing up for a move toward lower liquidity. These liquidity zones provide crucial information about where price is likely to react, and traders should pay close attention to how price behaves around $110 and $104. As always, this analysis is based on the flow of orders and market imbalances, without the use of traditional indicators. If you’re watching SOL closely, keep an eye on how price interacts with these liquidity zones—it could signal the next big move. Stay sharp, stay informed, and remember to trade wisely. Peace, Lord MEDZ. Disclaimer: This blog is for educational purposes only and should not be considered financial advice. Always do your own research or consult a financial professional before making any trading decisions.
BINANCE:SOLUSDShort
by Skinwah
2
The forecasting of SOLUSDThe forecasting of SOLUSD prices can be a complex task, as it involves analyzing various factors such as: Market sentiment: The overall mood of the cryptocurrency market can significantly impact SOLUSD prices. Positive news and trends can lead to price increases, while negative news and trends can lead to price decreases. Supply and demand: The balance between the supply of SOLUSD tokens and the demand for them can also influence prices. If demand exceeds supply, prices may rise, and vice versa. Technical analysis: This involves studying historical price data to identify patterns and trends that may indicate future price movements. Technical indicators such as moving averages, relative strength index (RSI), and Bollinger Bands can be used to make predictions. Fundamental analysis: This involves examining the underlying factors that affect the value of SOLUSD, such as the development of the Solana blockchain, the adoption of SOLUSD by merchants and businesses, and the overall health of the cryptocurrency industry. Disclaimer: This information is for educational purposes only and should not be considered financial advice. Investing in cryptocurrencies involves risk, and it is important to do your own research before making any investment decisions.
BINANCE:SOLUSD
by ITManager_US
The forecasting of SOLUSDThe forecasting of SOLUSD prices can be a complex task influenced by various factors, including market sentiment, economic conditions, technological developments, and regulatory changes. While there's no guaranteed method to predict future prices, here are some approaches that can be considered: 1. Technical Analysis: Chart Patterns: Identify recurring patterns in price charts, such as head-and-shoulders, triangles, or double tops/bottoms, to anticipate potential price movements. Indicators: Use technical indicators like moving averages, relative strength index (RSI), and Bollinger Bands to gauge overbought/oversold conditions and potential trend reversals. 2. Fundamental Analysis: Market Sentiment: Assess the overall sentiment towards SOLUSD and Solana, considering factors like news, social media discussions, and investor behavior. Economic Factors: Evaluate the impact of macroeconomic factors, such as interest rates, inflation, and global economic growth, on the cryptocurrency market. Technological Developments: Analyze advancements in Solana's technology, including scalability improvements, new features, and partnerships, as they can influence investor confidence and demand. Regulatory Landscape: Monitor regulatory developments in the cryptocurrency space, both globally and domestically, as changes in regulations can significantly impact market dynamics. 3. Quantitative Analysis: Statistical Models: Employ statistical models, such as time series analysis or machine learning algorithms, to analyze historical price data and identify patterns that could predict future movements. Algorithmic Trading: Utilize automated trading systems that execute trades based on predefined rules and algorithms, often incorporating technical and fundamental analysis. 4. Expert Opinion: Analysts and Forecasters: Consult the opinions of financial analysts, cryptocurrency experts, and market forecasters who may provide insights into potential price trends. 5. Risk Management: Diversification: Consider diversifying your cryptocurrency portfolio to manage risk and reduce exposure to potential price fluctuations. Stop-Loss Orders: Set stop-loss orders to limit potential losses if the price moves against your expectations. 6. Disclaimer: Past Performance: Remember that past performance is not indicative of future results. Cryptocurrencies are highly volatile, and prices can fluctuate significantly. Research and Due Diligence: Conduct thorough research and due diligence before making any investment decisions in cryptocurrencies. It's important to note that forecasting cryptocurrencies involves inherent risks, and there's no foolproof method to guarantee accurate predictions. Combining multiple approaches and staying informed about market developments can help you make more informed investment decisions. I hope this information is helpful!
BINANCE:SOLUSD
by ITManager_US
SOL Price Above $150 Eyes $200SOL Price Hits $150: Solana has reached the $150 psychological level, gaining 5.47% intraday, signaling strong bullish momentum. 14.50% Surge in 3 Days: Over the last three days, SOL has surged by 14.50%, creating three consecutive bullish candles, indicating a robust upward trend. 20.52% Two-Week Rally: In the past two weeks, Solana's price has increased by 20.52%, with the $125 support level serving as a key foundation for this rally. Approaching Key Resistance: Solana is approaching the neckline of a rounding reversal at the $160-$163 supply zone, which could lead to further gains if it breaks this resistance. EMA Breakout: A 6.36% price jump last night resulted in a bullish engulfing candle that pushed SOL above both the 50-day and 200-day EMAs, eliminating the chance of a death cross. RSI Near Overbought: The daily RSI has spiked to 61.58 as the price rises above $150, approaching the overbought zone, indicating increased buying pressure. Triple White Soldier Pattern: Solana has formed a bullish triple white soldier pattern, hinting at continued momentum and a likely breakout above the $163 supply zone. Rounding Bottom Breakout: The rounding bottom pattern forming in Solana's chart suggests a breakout rally that could trigger a strong BUY signal for traders. Q3 & Q4 Historical Performance: Solana's strong historical performance in Q3 and Q4 could further fuel the price action, potentially leading to a breakout. Potential to Reach $200: Based on the current momentum and technical indicators, SOL has a chance to break the $200 mark in October, especially with ongoing developments. Targeting 52-Week High: A breakout beyond the $160-$163 supply zone could see Solana aiming for its 52-week high, with $250 as a potential upside target. Key Support at $125: The $125 level has provided strong support for Solana, acting as a crucial price floor during recent upward movements.
COINBASE:SOLUSDLong
by Coinpedia-Market-Insight
1
The forecasting of SOLUSD pricesThe forecasting of SOLUSD prices can be a complex task influenced by various factors, including market sentiment, economic conditions, technological developments, and regulatory changes. While there's no guaranteed method to predict future prices, here are some approaches that can be considered: 1. Technical Analysis: Chart Patterns: Identify recurring patterns in price charts, such as head-and-shoulders, triangles, or double tops/bottoms, to anticipate potential price movements. Indicators: Use technical indicators like moving averages, relative strength index (RSI), and Bollinger Bands to gauge overbought/oversold conditions and potential trend reversals. 2. Fundamental Analysis: Market Sentiment: Assess the overall sentiment towards SOLUSD and Solana, considering factors like news, social media discussions, and investor behavior. Economic Factors: Evaluate the impact of macroeconomic factors, such as interest rates, inflation, and global economic growth, on the cryptocurrency market. Technological Developments: Analyze advancements in Solana's technology, including scalability improvements, new features, and partnerships, as they can influence investor confidence and demand. Regulatory Landscape: Monitor regulatory developments in the cryptocurrency space, both globally and domestically, as changes in regulations can significantly impact market dynamics. 3. Quantitative Analysis: Statistical Models: Employ statistical models, such as time series analysis or machine learning algorithms, to analyze historical price data and identify patterns that could predict future movements. Algorithmic Trading: Utilize automated trading systems that execute trades based on predefined rules and algorithms, often incorporating technical and fundamental analysis. 4. Expert Opinion: Analysts and Forecasters: Consult the opinions of financial analysts, cryptocurrency experts, and market forecasters who may provide insights into potential price trends. 5. Risk Management: Diversification: Consider diversifying your cryptocurrency portfolio to manage risk and reduce exposure to potential price fluctuations. Stop-Loss Orders: Set stop-loss orders to limit potential losses if the price moves against your expectations. 6. Disclaimer: Past Performance: Remember that past performance is not indicative of future results. Cryptocurrencies are highly volatile, and prices can fluctuate significantly. Research and Due Diligence: Conduct thorough research and due diligence before making any investment decisions in cryptocurrencies. It's important to note that forecasting cryptocurrencies involves inherent risks, and there's no foolproof method to guarantee accurate predictions. Combining multiple approaches and staying informed about market developments can help you make more informed investment decisions.
BINANCE:SOLUSD
by ITManager_US
SOL/USD ForecastingThe forecasting of SOLUSD prices can be a complex task influenced by various factors, including market sentiment, economic conditions, technological developments, and regulatory changes. While there's no guaranteed method to predict future prices, here are some approaches that can be considered: 1. Technical Analysis: Chart Patterns: Identify recurring patterns in price charts, such as head-and-shoulders, triangles, or double tops/bottoms, to anticipate potential price movements. Indicators: Use technical indicators like moving averages, relative strength index (RSI), and Bollinger Bands to gauge overbought/oversold conditions and potential trend reversals. 2. Fundamental Analysis: Market Sentiment: Assess the overall sentiment towards SOLUSD and Solana, considering factors like news, social media discussions, and investor behavior. Economic Factors: Evaluate the impact of macroeconomic factors, such as interest rates, inflation, and global economic growth, on the cryptocurrency market. Technological Developments: Analyze advancements in Solana's technology, including scalability improvements, new features, and partnerships, as they can influence investor confidence and demand. Regulatory Landscape: Monitor regulatory developments in the cryptocurrency space, both globally and domestically, as changes in regulations can significantly impact market dynamics. 3. Quantitative Analysis: Statistical Models: Employ statistical models, such as time series analysis or machine learning algorithms, to analyze historical price data and identify patterns that could predict future movements. Algorithmic Trading: Utilize automated trading systems that execute trades based on predefined rules and algorithms, often incorporating technical and fundamental analysis. 4. Expert Opinion: Analysts and Forecasters: Consult the opinions of financial analysts, cryptocurrency experts, and market forecasters who may provide insights into potential price trends. 5. Risk Management: Diversification: Consider diversifying your cryptocurrency portfolio to manage risk and reduce exposure to potential price fluctuations. Stop-Loss Orders: Set stop-loss orders to limit potential losses if the price moves against your expectations. 6. Disclaimer: Past Performance: Remember that past performance is not indicative of future results. Cryptocurrencies are highly volatile, and prices can fluctuate significantly. Research and Due Diligence: Conduct thorough research and due diligence before making any investment decisions in cryptocurrencies. It's important to note that forecasting cryptocurrencies involves inherent risks, and there's no foolproof method to guarantee accurate predictions. Combining multiple approaches and staying informed about market developments can help you make more informed investment decisions. I hope this information is helpful!
BINANCE:SOLUSD
by ITManager_US
Solana’s 2024 Cycle vs. 2020: Hidden Divergence Fractal In this chart, we’re comparing Solana’s 2024 cycle to its 2020 cycle, with a focus on hidden bullish divergences in the RSI and similar bar structures. Both cycles are displaying key similarities in terms of duration, volume, and momentum shifts, which suggest that SOL might be gearing up for another strong rally. 2024 Cycle (Left): Hidden Bullish Divergence: The current cycle shows a clear hidden bullish divergence in the RSI, which is often a sign of continuation in the prevailing trend, in this case, a long-term uptrend. This divergence is forming over a 273-bar period (~273 days), very similar to what we saw in 2020. Volume Analysis: The volume during this consolidation phase is 81.725M, suggesting accumulation is happening despite the price consolidating in a range. Compare this to the 2020 cycle’s lower volume during the same period, and it becomes clear that there’s substantial interest in Solana during this phase. 46-bar Correction: The recent 46-bar correction (~46 days) aligns almost perfectly with the 2020 fractal, indicating a possible repeat of the pattern. 2020 Cycle (Right): Fractal Comparison: The 2020 cycle, also showing a hidden bullish divergence over a 273-day period, led to a significant rally. After a similar 46-bar correction, SOL saw a major move upward, ultimately breaking through resistance levels. The hidden divergence on the RSI was the key signal of the bullish continuation that followed. Volume: The volume during this phase in 2020 was notably lower than the 2024 cycle, reinforcing the idea that more liquidity and interest is now present, which could amplify the move when the breakout occurs. Key Takeaways: Hidden Bullish Divergence: Both cycles have strong hidden bullish divergences, which historically signal continuation. In this case, that would point to a resumption of the uptrend. Fractal Consistency: The near-identical bar counts and price structures suggest that the 2024 cycle could follow a similar path to 2020. A breakout from this consolidation could take SOL to new highs if the fractal pattern continues to play out. Volume: The higher volume in 2024 compared to 2020 supports a stronger potential breakout. Traders should keep an eye on the RSI, volume, and any price action around key support and resistance zones, as Solana may be setting up for a move similar to its explosive 2020 rally.
BINANCE:SOLUSDLong
by Blockbullder
2
The next level UP for SOLSolana chain is a baby at 4 years old that has been through a lot in it's youth from outages for moving recklessly fast (like any teen), to rising to an early ATH of 260 and then crashing to 8 bux FTX low caused by bad boy friend SBF. Add to that the regulatory challenges which now with ETF proposals and so many other trad fi engagements seem to be behind the chain. Here we are in 2024 and SOL has shown RESILIENCE and MASSIVE strength! It did not just recover - it DOMINATED! In just 4 months, SOL shot up 800% from around $20 at Breakpoint last year to $220 in March of 2024. Since the yearly high, in this very strange and tepid year, SOL price has been in a descending triangular wedge and has built strong resistance floor around the 129 level. The chain has grown massively and is now without a doubt the uncontested leading Layer one. While SOL gets accused of being a MEME coin factory, there are things happening on SOLANA that go far beyond Crypto in real potential impact. Consider the early SOL years the foundation. Now the #3 Crypto chain, SOL is undervalued and due for a major breakout. FIREDANCER will be revolutionary. SAGA 2 is coming. Integration in a Global Machine is on it's way. I see SOL jumping to 300-500 range next. This is conservative. Consider the ETH market cap. SOLANA is outperforming ETH in many chain activities, but ETH still has a much higher MC. That will change. It is not a question of if - it is a question of WHEN. The thing Im doing right now is accumulating.
COINBASE:SOLUSDLong
by cryptoseedjohnny