SOL

Solana (SOL) Gearing Up: Is a New Surge on the Horizon?

Published

24 hours ago

December 25, 2024

Solana remained stable above the $175 level. SOL price is now recovering losses and facing hurdles near the $200 and $205 levels.

SOL price started a fresh increase after it tested the $175 zone against the US Dollar.
The price is now trading above $190 and the 100-hourly simple moving average.
There was a break above a connecting bearish trend line with resistance at $185 on the hourly chart of the SOL/USD pair (data source from Kraken).
The pair could start a fresh increase if the bulls clear the $205 zone.

Solana Price Eyes Upside Break

Solana price formed a support base and started a fresh increase from the $185 level like Bitcoin and Ethereum. There was a decent increase above the $190 and $192 resistance levels.

There was a break above a connecting bearish trend line with resistance at $190 on the hourly chart of the SOL/USD pair. The pair climbed above $195 and tested the 50% Fib retracement level of the downward move from the $228 swing high to the $175 low.

However, the price is now facing many hurdles near $200. Solana is now trading above $190 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $202 level.

The next major resistance is near the $208 level or the 61.8% Fib retracement level of the downward move from the $228 swing high to the $175 low. The main resistance could be $215. A successful close above the $220 resistance level could set the pace for another steady increase. The next key resistance is $235. Any more gains might send the price toward the $250 level.

Another Decline in SOL?

If SOL fails to rise above the $208 resistance, it could start another decline. Initial support on the downside is near the $195 level. The first major support is near the $188 level.

A break below the $180 level might send the price toward the $175 zone. If there is a close below the $175 support, the price could decline toward the $162 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

Major Support Levels – $195 and $188.

Major Resistance Levels – $208 and $215.

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Altcoins

Trader Predicts ‘God Candle’ Breakout for Ethereum, Says New All-Time High Loading for One Memecoin

Published

1 week ago

December 19, 2024

admin

A popular crypto analyst thinks that Ethereum (ETH) is on the verge of printing a massive breakout rally also known as a god candle.

Pseudonymous analyst Inmortal tells his 221,100 followers on the social media platform X that Ethereum’s two-hour chart looks similar to Bitcoin’s (BTC) price action over the last two weeks.

The analyst says that while Ethereum struggles to clear resistance at $4,000, he notes that BTC also had trouble breaching $100,000 for weeks before surging to new all-time highs.

“Same price action, but with one difference.

God candle after the breakout.

ETH.”

Based on the trader’s chart, he seems to predict that ETH will surge close to its all-time high of $4,800 after the breakout. At time of writing, ETH is worth $3,892.

The trader also has his radar locked on the memecoin Floki (FLOKI). According to the trader, FLOKI appears to be trading in a symmetrical triangle pattern and is gearing up to shatter the structure’s diagonal resistance en route to new record highs.

“Second leg up – loading.
New ATH – loading.
Price discovery – loading.

FLOKI.”

Based on the trader’s chart, he seems to predict that FLOKI will explode to a new all-time high of $0.00038. At time of writing, FLOKI is worth $0.000219.

Looking at Solana (SOL), the trader sees the Ethereum rival bursting above its diagonal resistance to rally toward $300.

“Something like this.

SOL.”

At time of writing, SOL is worth $222.60.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

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Altcoin Sherpa

Trader Says Altcoin That’s Up over 8x in Under Three Months to Outperform Market, Updates Outlook on Solana

Published

1 week ago

December 17, 2024

admin

A widely followed crypto analyst says that Ethena (ENA), a synthetic dollar protocol built on Ethereum (ETH), looks primed to continue its red-hot streak.

The pseudonymous analyst known as Altcoin Sherpa tells his 234,500 followers on the social media platform X that ENA is worth investing into when it dips in price as it will outpace most of the market.

“I think that this just continues going higher. My average is still pretty high like $0.92 or something but this one still just outperforms most of the market [in my opinion]. Buy any dips that you can.”

Ge1fPzJWUAAlPo9 — Source: Altcoin Sherpa/X

ENA, the 56th-ranked crypto asset by market cap, is up more than 8x in the past three months and is trading at $1.18 at time of writing. It’s also up more than 1% in the past day.

Altcoin Sherpa appears less bullish on the smart contract platform Solana (SOL) over the medium term, especially compared to other top crypto assets, noting that he believes it will be outperformed by the top two digital assets by market cap.

“I think SOL underperforms both ETH and Bitcoin in the coming months. I don’t know what happens long term and I still believe it’s the best casino on earth. But I also have to be rational with it.”

Gex4dG4WIAAhWY6 — Source: Altcoin Sherpa/X

SOL is trading at $217.74 at time of writing. The 6th-ranked crypto asset by market cap is down more than 1% in the past 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

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SOL

Solana (SOL) Faces Headwinds: Can Bulls Revive Momentum?

Published

1 week ago

December 16, 2024

admin

Solana remained stable above the $215 level. SOL price is now recovering losses and facing hurdles near the $228 and $332 levels.

SOL price started a fresh increase after it tested the $215 zone against the US Dollar.
The price is now trading below $225 and the 100-hourly simple moving average.
There was a break above a connecting bearish trend line with resistance at $222 on the hourly chart of the SOL/USD pair (data source from Kraken).
The pair could start a fresh increase if the bulls clear the $228 zone.

Solana Price Eyes Upside Break

Solana price formed a support base and started a fresh increase from the $215 level but lagged momentum like Bitcoin and Ethereum. There was a decent increase above the $218 and $220 resistance levels.

There was a break above a connecting bearish trend line with resistance at $222 on the hourly chart of the SOL/USD pair. The pair climbed above $225 and tested the 50% Fib retracement level of the downward move from the $234 swing high to the $215 low.

However, the price is now facing many hurdles near $225. Solana is now trading below $225 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $225 level.

The next major resistance is near the $228 level or the 61.8% Fib retracement level of the downward move from the $234 swing high to the $215 low. The main resistance could be $230. A successful close above the $230 resistance level could set the pace for another steady increase. The next key resistance is $235. Any more gains might send the price toward the $250 level.

Another Decline in SOL?

If SOL fails to rise above the $228 resistance, it could start another decline. Initial support on the downside is near the $220 level. The first major support is near the $215 level.

A break below the $215 level might send the price toward the $205 zone. If there is a close below the $205 support, the price could decline toward the $200 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level.

Major Support Levels – $220 and $215.

Major Resistance Levels – $228 and $230.

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