AltCoinETFspostponed

Solana (SOL) Technical Analysis
1. Current Price and Market Options
- Solana's price is currently trading between $148.67 and $151.55, with a slight decrease of ≈1% over the past 24 hours. However, on the short-term (12-hour) timeframe, data indicates limited volatility around the $150 level, with resistance at $151.55 and a consolidated level at $148.57.
2. Lower Structure and Required Levels
- Support Areas:
- Support for the Balance: $148.57 (24-hour low).
- Resistance Areas:
- Nearby Resistance: $151.55 (24-hour high).
3. Technical Indicators
- Charts:
- It is currently trading above the 50-day EMA on the daily chart, supporting a short-term bullish outlook, but it remains below the 200-day EMA, indicating long-term bearish pressure.
- Relative Strength Index (RSI):
- The hourly (1H) RSI shows a reading of ≈55, indicating neutral momentum with a potential buy signal if it exceeds 60.
- Other Omissions:
- MACD signals indicate convergence between the lines, which could always herald a strong price movement (bullish or bearish).
4. Possible Play Scenarios
- Schematic:
- Trigger Conditions: Price close above $151.55 with increased trading volume.
- Resistance: $154 (short), then $160 (61.8% Fibonacci retracement point).
- Setting up for setup:
- Trigger conditions: Breaking the support at $148.57 with bearish reversal confirmation.
- Deficit: $142 (50% Fibonacci retracement zone), then $134.63.
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Finally:
During the 12-hour period of the new generation, Solana's price has been confined to a narrow range, testing immediate freedom-preserving levels. Short positions are dependent on everyone breaking this level, contributing to an integral part of the current action. It is recommended to trade by monitoring the trading volume and password before conducting investigations.
$SOL
#BinanceAlphaAlert #SaylorBTCPurchase #AltcoinETFsPostponed

A closely followed crypto analyst says that altcoins may start outperforming Bitcoin (BTC) once one key metric hits a pivotal level.

The pseudonymous analyst known as Rekt Capital tells his 545,100 followers on the social media platform X that the Bitcoin dominance (BTC.D) metric may soon enter a downward phase, setting alts up to outperform the flagship crypto asset.

A closely followed crypto analyst says that altcoins may start outperforming Bitcoin (BTC) once one key metric hits a pivotal level.

The pseudonymous analyst known as Rekt Capital tells his 545,100 followers on the social media platform X that the Bitcoin dominance (BTC.D) metric may soon enter a downward phase, setting alts up to outperform the flagship crypto asset.

Bitcoin dominance currently stands at 64.73%. Traders use BTC.D to track if altcoins are outperforming Bitcoin as the metric calculates how much of the crypto market cap belongs to BTC.

“If history repeats, the real altseason everybody is waiting for would begin once Bitcoin dominance rejects close to or directly from 71% (red).”

The analyst also says that BTC.D is likely reclaiming 64% as support on the monthly chart, resembling a similar pattern that occurred in 2019, when the metric surged to hit 71% before entering a downtrend.

“BTC dominance indeed successfully retested November 2024 highs (black) to revisit ~64% (blue). Now, Bitcoin dominance is positioning itself for a reclaim of 64%. It’s likely BTC dominance reclaims 64% in a very similar fashion to the reclaim of ~60%.”

Rekt Capital says Bitcoin may be on the verge of entering another price discovery phase after a lengthy consolidation period.

“Bitcoin price discovery roadmap: Bitcoin is trying to finalize its first price discovery correction to transition into its second price discovery uptrend.”
#BTCRebound #SaylorBTCPurchase #Trump100Days #AltcoinETFsPostponed
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