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Solana ‘God Candle Is Close’ As It Breaks From Crucial Resistance – Top Analyst

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Solana recently broke its yearly high at $210, sparking a surge in trading activity as the altcoin now attempts to consolidate above this key level. This period of volatile price action highlights Solana’s strong position within the market, as investors watch for signs of a further breakout. 

Top analyst and investor Immortal recently shared an insightful technical analysis comparing Solana’s chart to Bitcoin’s historical price movements, suggesting that Solana’s next breakout may be imminent.

As the market reaches new highs, Solana’s ability to hold above $210 could indicate strength, drawing in additional interest from retail and institutional investors. In the coming days, Solana’s price action will likely clarify whether this consolidation phase is merely a pause before a more substantial move. 

With the broader crypto market reaching unprecedented levels, Solana is positioned at a critical juncture, and traders will closely monitor its performance for signs of a continuation of its upward trajectory.

Solana Preparing For A Rally

Solana appears poised for a significant rally, having broken out of an 8-month accumulation phase that began in March. This critical development has caught the attention of top analyst and trader Inmortal, who shared an analysis on X, comparing Solana’s recent chart patterns to those of Bitcoin. His technical perspective suggests that Solana mirrors Bitcoin’s past price movement and could be on the cusp of a substantial surge.

Solana price chart compared to BTC
Solana price chart compared to BTC | Source: Inmortal on X

Following its break above the yearly high of $210, Solana’s next target is likely to be its all-time high of $258. This level is viewed by many as a critical resistance, and a successful test could pave the way for even greater price gains. The breakout from such an extended accumulation phase has bolstered confidence in Solana’s bullish structure, and the market is closely watching for signs of sustained momentum.

The timing of this potential move is also strategic. As Bitcoin consolidates just below its all-time high, a period of stability could provide the perfect window for altcoins, particularly Solana, to gain traction. This pause in Bitcoin’s rally allows liquidity to shift toward other strong projects, positioning Solana well for a possible continuation of its upward trend.

The next few days will be pivotal for Solana as traders look to see if it can sustain support above $210. If Solana holds this level and momentum remains, a push toward the $258 all-time high could unfold rapidly, further solidifying its role as a leading altcoin in the market’s current bull phase. 

SOL Testing Last Supply Levels Before ATH

Solana is currently trading at $220, having broken its yearly highs, yet it’s now encountering some volatility as traders assess the next move. With SOL just 17% away from its all-time high of $258, many are watching closely to see if it can sustain this momentum without giving traders any lower entry points.

SOL 17% away from ATH
SOL 17% away from ATH | Source: SOLUSDT chart on TradingView

The $210 support level is particularly crucial in the coming days. If SOL fails to hold above this mark, a short-term correction could drive prices lower, potentially offering some breathing room for buyers looking to enter before the next rally. However, should SOL remain steady above $210, the likelihood of a rapid push to new highs becomes even stronger, as it signals ongoing bullish strength in a market eager for upward movement.

As Solana continues to consolidate at these elevated levels, a decisive break could ignite a swift rally, drawing in both retail and institutional interest. Traders are preparing for either outcome: a brief correction as a buying opportunity, or a breakout that takes Solana into uncharted territory, setting new highs and reaffirming its place among top-performing altcoins this cycle.

Featured image from Dall-E, chart from TradingView



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Altcoins

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

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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.”

Image
Source: Inmortal/X

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.”

Image
Source: Inmortal/X

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.”

Image
Source: Inmortal/X

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

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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.”

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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.”

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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.

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SOL

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

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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.

Solana Price

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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