News about Solana (SOL) coin
Solana (SOL) has seen significant fluctuations recently. Currently, the coin is trading at around $131, with expectations that it will reach $200 by the end of 2024, and possibly rise to $500-600 in the long term【6 (MarketBeat) (markets.businessinsider.com)
Important events that may affect Solana's price include:
The Ethereum network upgrade is expected in March 2024, which may increase competition between the two networks【5 (Cryptonews)2. Bitcoin Halving Event in April 2024, which is expected to impact the overall cryptocurrency market【5 (Cryptonews)3. Potential approval of an ETF for Ethereum, which could increase interest in Solana and other altcoins【5 (Cryptonews)
Trading strategies on the Binance platform
To trade Solana on Binance, you can follow the following strategies:
Daily trading:
Using Technical Analysis: Day traders rely on Japanese candlestick patterns, relative strength indicators (RSI), and moving averages to determine entry and exit points.
Risk Management: Place stop-loss orders to reduce potential losses.
Trading based on the news:
Follow news and updates: Positive news such as new partnerships or technology updates can push the price higher.
Quick response: The trader must be ready to buy or sell quickly when important news is released