The U.S. crypto industry urges President-elect Trump to enact pro-crypto executive orders on Jan 20. Plans include a Bitcoin reserve, crypto-friendly banking, and a crypto council.
Will this reverse regulatory crackdowns and spark a crypto-friendly future? 🚀
Key Observations: 1️⃣ Support Zone: BTC found support around $96,280, a crucial level tested multiple times. Buyers are stepping in, signaling potential short-term stability.
2️⃣ Parabolic SAR: The dots remain above the price, indicating bearish momentum is still active. A reversal is needed for confirmation of an upward trend.
3️⃣ RSI (Relative Strength Index):
RSI (6): 45.51 RSI (12 & 24): Hovering below 50, suggesting the market is still in a neutral-to-bearish phase but nearing oversold territory. This could attract buyers if momentum picks up. 4️⃣ MACD (Moving Average Convergence Divergence):
MACD remains negative (-23.83), reflecting bearish pressure. However, the histogram shows reduced selling momentum, hinting at a possible recovery in the short term. 5️⃣ Volume Spike: The increased trading volume aligns with the bounce from support. Higher volume will be critical for breaking resistance near $96,750–$97,000.
1️⃣ **Critical Support Zone**: Solana has been consolidating around **$200–$205**, a key accumulation area. Buyers have consistently defended this range, signaling strong demand.
2️⃣ **On-Chain Metrics**: Active wallet addresses and transaction volumes remain steady, indicating solid network activity. The growth of Solana's DeFi and NFT ecosystems is a bullish driver.
3️⃣ **Volume Spike Needed**: While current volumes are stable, a breakout above **$215** requires a noticeable uptick in buying pressure. A clean break here could push prices toward **$230**.
4️⃣ **Bullish Patterns Emerging**: Technical analysis reveals a potential **ascending triangle**, with resistance at **$215**. This is often a precursor to a significant upward breakout.
### Actionable Insights:
🔷 **LONGS**: Watch for confirmation above **$215** with strong volume. If confirmed, a move toward **$230–$250** could be on the horizon.
🔷 **BUYS**: Current levels near **$208** present an attractive entry for long-term holders. Maintain a stop-loss near **$200** to manage risk.
SOL has been moving slower compared to other alts recently, but don’t mistake this for weakness—it’s building momentum. Currently trading at **$208.83 (+2.06%)**, Solana continues to demonstrate resilience in the market.
From a technical perspective: - **Support Zone**: Strong support around $200–$205, which has been tested multiple times without breaking. - **Resistance Levels**: Immediate resistance at $215, with $230 as the next major hurdle if bullish momentum picks up. - **Volume Trends**: Trading volume remains steady, indicating healthy accumulation by long-term believers.
On-chain metrics are also promising: - Transaction speed and low fees keep Solana attractive for developers and dApps. - Despite broader market headwinds, Solana's DeFi and NFT ecosystems remain active and innovative.
Sometimes, slow and steady wins the race. I’m holding SOL because I believe in its fundamentals, scalability, and the tech that supports its long-term growth. 🌐
"💹 **Diverse Portfolio, Strategic Moves** Keeping an eye on the market dynamics today.
- **ADA**: Breaking the charts with a +9.49% spike. Looks like Cardano is gaining traction. Could this rally hold steady? 🌊 - **BTC**: The king remains resilient with +1.24%. Watching its resistance levels to see if it can push higher! 🔥 - **DOGE & SHIB**: Memecoins showing consistent green with +2.36% and +2.76%, respectively. Is another surge brewing? 🚀 - **AAVE**: Slight dip at -1.86%, but volatility creates opportunities for the patient. 👀
Crypto is all about timing and understanding the patterns. Staying diversified and informed for the long game. 💪