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Alert! Solana About to Crash – Traders Watch These Crucial Levels
The post Alert! Solana About to Crash – Traders Watch These Crucial Levels appeared first on Shane Fintech News
Solana (SOL), the world’s fifth-biggest cryptocurrency looks to crash as it has broken down a crucial bearish price action pattern. According to price action and technical analysis, SOL has recently experienced a breakdown of bearish head-and-shoulder price action patterns in a 4-hour time frame.
Solana Price Prediction for August 2024
If SOL closes a 4-hour candle below $137.5, there is a high possibility that SOL could fall another 7%-8% to $125 in a few hours or the coming days. Based on past analysis, whenever the assets give a breakdown of head-and-should pattern they always tend to experience significant price drops.
Source: Trading View
However, this time there is a similar anticipation from the current SOL’s breakdown. With this breakdown, SOL falls below the 200 Exponential Moving Average (EMA) on a daily time frame. The SOL price below the 200 EMA indicates bearishness.
Solana Price Analysis
At press time, SOL is trading near $138.2 and has experienced a price drop of over 5% in the last 24 hours. Meanwhile, its trading volume has increased by 50% during the same period. This increase in trading volume is potentially caused due to fear and bearish market sentiment.
On the other hand, SOL’s open interest has declined by 1.5% in the last 24 hours, indicating lower interest from traders and investors.
Major Liquidation Levels
As of now, SOL’s major liquidation levels are near $136.23 on the lower side and $142 on the upper side, according to the on-chain analytic firm Shanae
If the market sentiment remains bearish and SOL falls to the $136.23 level, nearly $67.70 million worth of long positions will be liquidated, which math create heavy selling pressure. Conversely, if the sentiment changes and SOL rises to the $142 level, nearly $36.40 million worth of short position will be liquidated. $SOL
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Alert! Solana About to Crash – Traders Watch These Crucial Levels
The post Alert! Solana About to Crash – Traders Watch These Crucial Levels appeared first on Shane Fintech News
Solana (SOL), the world’s fifth-biggest cryptocurrency looks to crash as it has broken down a crucial bearish price action pattern. According to price action and technical analysis, SOL has recently experienced a breakdown of bearish head-and-shoulder price action patterns in a 4-hour time frame.
Solana Price Prediction for August 2024
If SOL closes a 4-hour candle below $137.5, there is a high possibility that SOL could fall another 7%-8% to $125 in a few hours or the coming days. Based on past analysis, whenever the assets give a breakdown of head-and-should pattern they always tend to experience significant price drops.
Source: Trading View
However, this time there is a similar anticipation from the current SOL’s breakdown. With this breakdown, SOL falls below the 200 Exponential Moving Average (EMA) on a daily time frame. The SOL price below the 200 EMA indicates bearishness.
Solana Price Analysis
At press time, SOL is trading near $138.2 and has experienced a price drop of over 5% in the last 24 hours. Meanwhile, its trading volume has increased by 50% during the same period. This increase in trading volume is potentially caused due to fear and bearish market sentiment.
On the other hand, SOL’s open interest has declined by 1.5% in the last 24 hours, indicating lower interest from traders and investors.
Major Liquidation Levels
As of now, SOL’s major liquidation levels are near $136.23 on the lower side and $142 on the upper side, according to the on-chain analytic firm Shanae
If the market sentiment remains bearish and SOL falls to the $136.23 level, nearly $67.70 million worth of long positions will be liquidated, which math create heavy selling pressure. Conversely, if the sentiment changes and SOL rises to the $142 level, nearly $36.40 million worth of short position will be liquidated. $SOL
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$DOGS Answer to Hold or Close 👍🙅🏻♂️🙅🏻♂️🚨🚨🚨🚨🚨 #DOGSONBINANCE
#VisitMyProfileAndGiveMeVotePlease Last 72hrs $DOGS token is unpredictable but holds is better because $DOGS will bullish again and bearish today
#VisitMyProfileAndGiveMeVotePlease Last 72hrs $DOGS token is unpredictable but holds is better because $DOGS will bullish again and bearish today
Can $DOGS Token Reach $1? Dream or Reality
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DOGS, originally a meme cryptocurrency, has gained substantial attention, especially after being listed on Binance. With its Shiba Inu mascot and strong community backing, many speculate whether DOGS could hit $1 by September 2024.
Visibility Boost and Community Support
The Binance listing significantly increased DOGS' visibility, attracting more investors. The dedicated "DOGS Army" plays a crucial role in promoting and maintaining its momentum.
Challenges to Reaching $1
Reaching $1 isn't guaranteed. The volatile crypto market, competition from other tokens, and market sentiment are key challenges. Any negative news or diminished enthusiasm could hinder its growth.
Investor Considerations
Investors should:
- Research DOGS and market dynamics.
- Understand the risks of volatility.
- Diversify their investments.
- Set clear financial goals.
Conclusion
While DOGS reaching $1 by September 2024 is possible, it's a challenging and uncertain journey. Staying informed and making careful decisions are essential for navigating this investment.
#DOGS #Launchpool #MarketDownturn
#VisitMyProfileAndGiveMeVotePlease
DOGS, originally a meme cryptocurrency, has gained substantial attention, especially after being listed on Binance. With its Shiba Inu mascot and strong community backing, many speculate whether DOGS could hit $1 by September 2024.
Visibility Boost and Community Support
The Binance listing significantly increased DOGS' visibility, attracting more investors. The dedicated "DOGS Army" plays a crucial role in promoting and maintaining its momentum.
Challenges to Reaching $1
Reaching $1 isn't guaranteed. The volatile crypto market, competition from other tokens, and market sentiment are key challenges. Any negative news or diminished enthusiasm could hinder its growth.
Investor Considerations
Investors should:
- Research DOGS and market dynamics.
- Understand the risks of volatility.
- Diversify their investments.
- Set clear financial goals.
Conclusion
While DOGS reaching $1 by September 2024 is possible, it's a challenging and uncertain journey. Staying informed and making careful decisions are essential for navigating this investment.
#DOGS #Launchpool #MarketDownturn
IT'S IT POSSIBLE ?
#VisitMyProfileAndGiveMeVotePlease
If Kamala Harris steps into the presidency, the crypto world could experience a shift away from the current harsh regulatory landscape under the Democratic administration. However, TD Cowen advises caution, as Harris's administration might not be as favorable to the crypto industry as some might hope. Although she may be less adversarial than President Biden, who, along with SEC Chair Gary Gensler and Senator Elizabeth Warren, has been relentlessly tough on crypto, Harris’s stance on digital assets remains largely undefined. This leaves the industry in a state of uncertainty, unsure whether to anticipate positive changes or prepare for more stringent regulations.Kamala Harris, who has recently seen a significant rise in popularity, has yet to make her position on cryptocurrency clear. In contrast, Donald Trump, who once dismissed Bitcoin as a scam, has dramatically changed his tune, now actively engaging with the crypto community. Despite this newfound support, history suggests that campaign promises don’t always translate into policy, leaving the future of crypto regulation under either candidate uncertain. Regardless of whether it’s Harris or Trump who takes office, the crypto industry may still face significant challenges. While both could potentially support crypto market legislation if Congress acts, any bill signed by Harris might come with stricter rules, making it difficult for the industry to see significant change.
#writeandearn
#EarnWhileYouPlay
#VisitMyProfileAndGiveMeVotePlease
If Kamala Harris steps into the presidency, the crypto world could experience a shift away from the current harsh regulatory landscape under the Democratic administration. However, TD Cowen advises caution, as Harris's administration might not be as favorable to the crypto industry as some might hope. Although she may be less adversarial than President Biden, who, along with SEC Chair Gary Gensler and Senator Elizabeth Warren, has been relentlessly tough on crypto, Harris’s stance on digital assets remains largely undefined. This leaves the industry in a state of uncertainty, unsure whether to anticipate positive changes or prepare for more stringent regulations.Kamala Harris, who has recently seen a significant rise in popularity, has yet to make her position on cryptocurrency clear. In contrast, Donald Trump, who once dismissed Bitcoin as a scam, has dramatically changed his tune, now actively engaging with the crypto community. Despite this newfound support, history suggests that campaign promises don’t always translate into policy, leaving the future of crypto regulation under either candidate uncertain. Regardless of whether it’s Harris or Trump who takes office, the crypto industry may still face significant challenges. While both could potentially support crypto market legislation if Congress acts, any bill signed by Harris might come with stricter rules, making it difficult for the industry to see significant change.
#writeandearn
#EarnWhileYouPlay
