Bitcoin Forum

 Solana (SOL) rallied 30% and almost touched the all-time high levels of $216 after breaking out above a pennant formation. SOL missed the ATH  price by just $1, according to Binance.

Solana is expected to see some consolidation around the $200 mark. Should the support at $192 fail, Solana can explore lower levels ($177) before any new attempt to break the all-time high occurs. Expect significant volatility from Solana over the short term. For now solana is at the price of 198.80$ is it the best time to invest in Solana or not?

What do BTC, ETH and SOL all have in common? Double top.

Yes BTC broke but it’s going to close under ATH on the weekly. SOL had a crazy year, I think it was like $1-2 last October so it’s pretty impressive to get a 100-200x in such a short time.

Will it break ATH? It still could. A lot of it depend what happens to BTC in the next few weeks, if it starts to act bearish then everything will start to sell off.

solana surprises with a significant price increase in a relatively short time. if you look at the projects they have developed
this increase is reasonable. Solana is a highly functional open source project that uses permissionless blockchain technology to provide decentralized finance (DeFi) solutions. While initial ideas and work on this project started in 2017, Solana was officially launched in March 2020 by the Solana Foundation
The Solana protocol is designed to facilitate the creation of decentralized applications (DApps).
With a clear and growing project, I think now is the right time to buy solana and invest for the long term, because solana is still able to keep the price going up.

Key Support level: $192, $177

Key Resistance level: $216

The mentioned above pennant is marked blue on the following chart. The current all-time high of $216 will continue to act as SOL’s next major resistance area. Since then, SOL has found support on the $192 level. If the price decides to correct further, then the next support level is located at $177. Considering the massive momentum of the recent rally, a consolidation is reasonable.

Oh well, it's just 1$ shy of it's all time high, so we might considered it as a good rally in recent days same as bitcoin. And no doubt that it can surpass it next month when we have another good and super fast rally like this month.

Best time to invest obviously is when the price didn't even reach 10$. However, it's not too late, who knows maybe it can still gain so much right after 2021 because the project is really solid.

i think for this year the moon is only for bitcoin only and it looks like altcoins are hard to go to the moon, i'm not saying SOL is bad, i also have a few but it seems hard to go through another new ATH price seeing currently bitcoin is dominating the market

I am not a pro trader as i am more a hodler type of investor, but if you ask for my personal opinion, then i would definitely not invest into solana now. The reason for that is pretty simple. If you look at the charts at coinmarketcap or coingecko then you will see that Solana started trading below 1$ last year, which means that everyone that invested back then already have made more than x250 of it's initial investment and people that invested into the seed or private sale of solana have made even more and i usually don't invest into projects, that have already made a 100x or more as it think the room for another x10 or even more is maybe not thee anymore.

For now I think its better to wait the retracement since its way more wise to let it dump for a lower price than ape with a very high price. We all knew there will be a backtrack on its price as btc is quite volatile and not sure if this will continue and it will be affecting alts position too.

https://cryptorank.io/ico/solana
Do you really think that after such XXX it is worth investing in this coin. Of course, if the bull market for altcoins starts, the price may rise to $ 400, but you need to have time to sell this coin.
I think this is a very risky investment if you do not plan to become a long-term holder.

100X in a year must mean something. I never quite got the hang of it with its multiple confusing wallets and the need to pay SOL to even add tokens to your wallet.

There seems to be a big enough community around it now and most importantly, an ecosystem of locked DeFi money and lending/ borrowing markets. The same thing happened with a lot of others like FTM, AVAX too but none of then showed the same kind of appreciation in price. Those of you who have been following it, what do you think the pump can be attributed to?

From what I can see, they really just encouraged a lot of these staking based allocations in multiple projects launched on the platforms like Raydium. They did all of this at the peak of hype-cycle and a lot of people ended up buying these tokens launched on token platforms. Similar to what BNB did with Pancakeswap. Now its a self-fulfilling prophecy due to the number of people already invested.

While this has worked for these projects during the bullrun, I wonder how things will be once the hype cycle stops. Do you think we'll ever see another crypto-winter like the post-2018?

Solana looks too attractive to invest, no matter how hard it burns. The situation is twofold, as many have already said, XXX has already been made. And at the same time, there is still potential for growth, but this is all too risky. Therefore, it is very easy to make a mistake with the forecast. But in the near future, there should still be growth, if, as usual, Bitcoin does not bring down all our plans.

This is why traders are always adviced to halt once the price starts approaching major support and resistance in the market. Many who bought at that point will have to patiently wait for a correction move before seeing profit. Solana has been on a high price for so long and need to retrace before another bullish trend

Traders knows what to do after this, if a cryptocurrency failed fo break the resistance on the peak price we can expect for the price to correct and will go back to the support level. SOL is still a good project so eventually, it will continue to rise over time, its ATH is easy to achieve just be patient and wait more time for SOL to make a new ATH.

It's because BTC has started to dip and that's common in the markets.

If SOL has failed to reach back its former ATH, that's fine. But, that doesn't mean that it can't break that ATH again. There's so much volatility that we can see in the market lately.

While we're on that, everyone should look at the idea if it's good to buy during the tops or you'll still wait for a huge dip that can happen to it.

The huge. dip that will come will be when the bitcoin parabolic set in again like that of last year. The idea is to take your profits in bitcoin for most of the pump and buy back in the dip. Did we forget when SOL got the new ATH? not even in the expected altseason but I feel the development across all sector in the project will be important for the move the altseason.

Solana is still going against the grain where other coins are failing to redeem but does the increase in SOL have to be based on the decrease in BTC first? Because I have seen something like this happen twice and now where the altcoin is still in the red but the SOL is different and continues to fight back until it will reach ATH.

I'm not going to be obsessed with FOMO, usually some people come when prices are high because they see prices are different from other altcoins, so we have to keep an eye on the situation and wait for a bigger correction, and don't be lured in by the FOMO you see.

That is very right. If you have the feeling that this can still go high, even surpass its previous ATH, why not buy while you still have the chance? Because the progress in this market is not yet stopping. And besides, SOL has gained its top 6 position, so the possibilities here are good. It is not like just crap alts that are popping out of somewhere and be gone in few months. This platform has solid foundation to begin with.

Yes it is but SOL already surpassed $200 again. I can imagine when SOL will have the same marketcap like ADA but it's too high in my opinion. Solana has limitation to growth right now and I wanna say that if investing in Solana is too late right now. Why don't you just try to pick up it when the price was trading at the bottom price instead of buying at the high price? You have a lot of chance to buy Solana so many times. It's too late to buy it right now although that's still a good coin to be used for long term hodl but i'd not recommend it to buy Solana this time. You need to pick another coin that is still having a lot of room to growth. The chance to make at least 2x from Solana was so difficult right now. It needs a major pump which will not occur anytime. In my conclusion investing Solana for this time is not a bad decision but it's not also a good decision as well. Why don't just pick top 100 CMC instead of SOL.
I know that major coins were promising but you need to consider your time.

Theres nothing wrong if the ATH price doesnt break on its first try. Just take a look on SOLANA's weekly chart, MACD says it will go up. On its Daily chart, it also said it will go up. Even on its 4hrs chart the price is reversing going up. I believe it will break this resistance this month of November.

There are also several coins that recently broken the ATH and others that fails so Solana is not far from those , best to keep the hold if you are for long term but sell now if not.

The market is showing small dumping position , but if this maintain this positioning in the next couple of weeks then by December expect a massive increase in prices .


https://coinmarketcap.com/currencies/solana/

SOL is doing great still , hyping 26% in the last 7 days is good enough to expect another pump sooner.

I think, under $200 is the best price to get involved with Solana. however, for now, it looks like the price of solana will pass its ATH. at CMC, the ATH of SOL is $214.96 and reached last september. considering the current conditions that we can see that the price of bitcoin is starting to rise, and reaching its ATH as well, I think altcoins like SOL will also pump up sooner or later. So, I think there's still a chance to have SOL at this point, but the risk is still much bigger than having SOL when it's under $200.

Everything still relies on Bitcoin first,,, and I think no one has changed their mind about a new ATH close to or even above 100,000, despite the challenges now to overcome $60k

Now when that happens a LOT of people are going to sell BTC for altcoins including stuff like SOL.

Not myself a big fan but cannot ignore the hype is helping it go even higher,,,

Its right that solana missed it's AllTimeHigh but its OK don't worry soon it will hit this all TimeHigh and will.be make his new ALLTIMEHIGH around 500$.
Because many new project start to launch his project on Solana Blockchain and many of the launch their test net on solana Blockchain already. The solana nft marketplace has to began many project launch their nft on solana marketplace which is the positive sign of solana bullish. So keep eye on solana and don't miss a chance to buy in dip

Well yeah, I've been watching SOL to break the current all time high because for sure it will gonna skyrocketed but the results is all negative.. But I'm still lucky that i saw NEAR and Shib that showing the same pattern and tends to break out as well that time during SOL false break out, and yes the results is good so far. Probably if i just rely to SOL i missed those opportunities to buy early ASAP to have a good profits.  :D so i can say that using 4 chart is a very useful technique for every traders.

Although SOL did not reach the highest limit, at least the popularity of DOL was really taken into account by big investors. For this year alone, the project they launched managed to grab the crypto market so that it shot up in the rankings. This year was enough for SOL to prove its performance as one of the new emerging cryptos but could easily outpace the growth of other cryptos in the market.

Solana achieved a new all-time-high level one day ago. It reached $218. Solana has a big potential in itself for sure and we just need to be patient to witness it. It actually showed it to us already by rising at a huge rate in only one year from a level below $1 to the current one. And I believe that it has already proven how promising the project is also.

Soles still have a long way to go, don't hesitate to invest in soles. the altcoin market is not yet on sol's side, I see that currently Solana still has good development and can penetrate ATH but it will take a long time. so the position of the sole is still safe for now even though it failed to penetrate ATH

Maybe the network shutting down stopped trust in this coin.

I'm just as sure as you say that sol is still just pending achieving renewable ATH, and will continue to work towards achieving it.
if we look at the chart on CG it is clear that the sol in October is better than the increase from bitcoin, this clearly indicates that there is a direction to the positive.

if bitcoin will increase again after the current correction, then it is certain that the sol will be able to reach towards renewable ATH. it is only a matter of time that soles will be able to do that and they will always remain a very attractive investment.

only certain altcoins can actually follow bitcoin's path of finding ATH.  out of thousands of coins in the crypto market i think solana is not a flop and solana looks like he will get ATH next time.  I'm still optimistic about Solana who has great potential in crypto

I think most alt coins will be breaking all time highs in the next run up which will likely happen next few weeks. IMO this is just a cool down from the run up we had I think btc will go higher for sure this is good though it is healthy resistance and not just a straight shot to the moon like when we broke 20k earlier in the run it just rocketed right to 30k pretty much almost 0 resistance. Patience and smart investing during these dips will win in this bullrun :)

For me SOL didn't fail to break it's recent ATH because this altcoin is just on it's way to attain it. If we were going to look at the market movement of SOL today, the movement indicates a healthy correction for the token and it only takes a day for this token for a rapid correction and now it is pumping again. I regret my decision to withdraw my investment in SOL after I get a good profit out of my investment last time believing that SOL will only sit at the highest of $205 that time. Now, it is still good to invest in SOL.

Don't worry my friend . Solana is a very strong project it will make their new ATH is the next alt coin season. And there is a prediction that Solana coin will hit 500$ in 2021. So, I am still waiting for a pump from Solana. Hold it for long term it will give you massive profit. Don't sell Solana coins at cheap price. Hold it until it hit 500$ or even 1000$

This is because SOL/BTC is still going down since September's high, after confirming it's third lower low it has now confirmed it's third lower high along with declining volume.

https://s3.tradingview.com/snapshots/e/EiJmzx2C.png

Price is not only at the accumulation/distribution level (VPVR point of control) but also struggling at the 0.618 retracement level since it's July lows, so likely to make a decisive move either up or down very soon. The truth is everything looks great against USD, EUR, as well as dogpoo. But compared to the price of Bitcoin that remains the main trading pair, it's clear why Solana failed to maintain it's ATH price, because it's in a short-term downtrend that could easily continue and traders are continuing to take profits. There isn't much volume support until the 200 Day MA / 0.236 retracement level either, which is a long way down.

If Bitcoin's dominance continues to rise after the consolidation in previous months, then it's BTC price could easily drop in half, while at the same time maintaining it's USD value. Food for thought I hope.

My suggestion is not to buy SOL now because the price now is at $197, which is almost $200 so that is too risky if you decide like that. Maybe you can invest in SOL in the next big bear trend because the bull trend can come up again. But if you still insist on investing in SOL because you think that the bull run can come to SOL, you are free to do that because that is your money but you should know the consequences as the market is still unpredictable. Maybe after this, the altcoin season will come and make SOL price can increase and make a new ATH. But we do not know for sure so it is better to search for the other coins that can increase.

It's better to wait for the bear trend to enter SOL because I think SOL has reached its peak for a while, the correction is certain and will create new ATH in the future, that's what I think. But if you have a strong reason to keep buying SOL, of course I don't prevent you from buying it before it's too late, it's all about personal data and beliefs, so there's nothing wrong.

I think this thread/first post of OP is invalidated since a few days ago we saw how Solana broke the previous all-time high.

I am also worried about Solana especially the recent issue of Solana being down or offline for around 17 hours, and that was the time Solana went down at around $150.
But look at now, recently updated the all-time-high.
I am still looking forward to Solana upward even a lot of competitor is popping, but I believe Solana is different and unique.

Sol has had a quick development and bend of its ATh pegs.  The figures show it has increased by more than 500% since July 28.  This number may be more surprising to come.  I think Sol is uniquely positioned for investment, a solid long-term path to expansion with better profit potential. I think the ATH near $220 won't be the last for Sol this year.  Be patient and to keep eyes on it.

SOL is one of the crypto revelations of 2021. The project really performed well due to its cheap gas fee, fast transaction, and support of ecosystem projects. I see the coin breaking its ATH in the next bull run and setting another all time high. I hope the dev team is able to prevent future reoccurrence of network clog that has warranted network shutdown twice in the past.

If you look up to small gains then maybe check sol But my advice will be to lookup the ecosystem and find out whats worth investing into Not just ape into sol I mean imagine aping into star atlus as the first set of investors That will move is what make ecosystem sexy But sol on its own is just small gain since mkcap right now is way in the billions

Breaking another ATH over ATH shouldn't always be expected. Remember that when there's hype, there's always an attempt to spoil the momentum.

For the question, if it's the best time to invest in Solana, it's up on your DYOR and risk management. How do you see the current trend? What are your thoughts regarding the price movement? Form an analysis based on your given factors and decide what to do next.

It's normal to see corrections, and it's a good opportunity for those who still wanted to participate in investing to this coin, SOL have a good reason to pump for more, with the system that it's offering developers find alternative it's adding more options for both developers and traders to enjoy the benefits of this system.

Thinking for long term? SOL can be considered as one of those good alternative investments, aside from ETH and BNB, which following Bitcoin in gaining more interest.

There is plenty of time left for Solana to break the all time high valuation if you take into account that the bull run will last for another couple of months or further. So it is not a big deal that the price did not break the all time high valuation now, expect the market to get the momentum after a minor correction and the market will keep on moving higher by the end of this year.

Don't rush mate because SOL has just starting to make way for another ATH and not meeting this recently means it will stop there .
i have observed other altcoins who has the same activities recently not only SOL so just keep your coins if you are a Hodler because your time will come sooner.
SOL is very promising and seemingly will break many ciuns in the future .

There have been lots of crypto currencies and projects that have been created in the community to overtake ethereum in the market. So, failing to its own peak level is highly expected and whenever these coins are created, we always see talks like this going  round about them having what it takes to be the next biggest thing in the alternative cryptocurrency market.

But at the end of all this, it usually ends with everyone forgetting about those projects and Ethereum continuing with its lead as the number one altcoin in the market. So, I can’t really give you an answer that Solana will be the next biggest project there is, it’s quite possible that Ethereum will maintain its position in the future. You can even take Bitcoin as an example, Bitcoin is main purpose has been about transaction.

But, we have seen events where the fees for sending money with Bitcoin has increased, despite all that, there haven’t been any other cryptocurrency that can be able to replace Bitcoin, but there have been many of them that were created to Replace it, but they haven't been successful.

The way certain coins/tokens moon in such a short amount of time, also reminds me of Chainlink in 2020. It quickly reached the Top 10, but now barely lies in the Top 20. Earlier this year there was Uniswap being the number one DEX and a Top 10 coin, but now only the second most popular and no longer in the Top 10. A lot of projects go up then down depending on the season as well as cycle it seems.


This is very true, I've been thinking the same lately of all these competing layer 1 solutions trying to be "better than Ethereum". While many of them do have technological advantages, they still don't have as many devs or users to go with. Sometimes it reminds me of 2018 "ETH killers" hype, when Ethereum was struggling with price due to the ICOs selling off etc, even if it's a different market these days.

Buddy,,,,!!!  Don't be in a hurry to determine Solana's achievements, because in my opinion SOL is currently experiencing a significant increase, the price of SOL has increased to 196.42 where the highest price ever made is 218.73, of course the current price and the best achievement ever achieved  there is not much difference, I think Solana still has a great chance to be able to solve the new ATH by the end of this year,

currently, Solana is in a positive trend, because it experienced a very significant increase today we can see the price of SOL has risen to $203.43 and if you look at its retention, Solana has a great chance to reach her ATH in the near future, because of the highest achievement ever  achieved is $218.83, of a course this value is very easy to achieve by SOLANA, besides the current value difference is very close, Solana also has a long way to go so that to penetrate the highest valuation is very wide open, so I don't think SOL has failed but vice versa.

Giving that fact, SOL still young and still has a lot to offer, if more success being produced from its chain and more new project
that being built inside SOL system gains interest and support from investors, the value can increase more. We can't conclude the fate
of the project if there are good things that still ongoing inside the development.

Just invest in any project that you really trust, allow the growth and collect your passive profits whenever you are satisfied with the amount.

SOL can be your passive money maker if you go deeper into this system. ;)