Our chart on Solana which by the way has had an EPIC RUN!
Solana Hit New All-Time High Above $60.
In January this year, the token was worth just $2.
On the 20th of July Solana was worth 21$
Just 2 days ago, it was priced at just 45$
At this stage, a correction is more likely than a rise at higher levels, no matter what Bitcoin does next. The price would need to check the 63.83 level as support (previous resistance) before rising higher.
Personally, I am short on Solana with my stop loss at 76$ and a target profit level of 59,3$ and 55$.
But that is just me hedging my exposure on other cryptos which I am long on.
Last Thursday, Mango markets, a high-speed, decentralized exchange powered by Solana, announced a successful $70 million crowdfunding. A week ago, the Solana Foundation launched the Wormhole update, allowing integration between different types of blockchains on its network, such as the Binance Smart Chain, non-fungible tokens (NFTs), and crypto price data. All this is great news but I really doubt that Solana will compete with Ethereum, Cardano and even Polkadot.
Like the so-called “ETH killers”, such as Polkadot and Cardano, the project claims to offer a faster and more efficient alternative. For instance, Solana says it is capable of processing more than 50,000 transactions a second, rivaling Visa’s claimed 65,000 transaction messages a second (TPS). However, it currently handles 6,110 TPS, according to solanabeach.io, an information platform maintained by one of the network’s validators, Staking Facilities.
I might be wrong, I might be right, this is my opinion. It's not easy to dare going short on a raging bull. Solana has been exactly that in the last days. Many people have just discovered it.
FOMO costs money. Solana is a train I missed but also a train i catch a little later.
🚩🚩🚩PS. Solana's Max Supply? Unlimited 🚩🚩🚩
One Love,
the FXPROFESOR
Solana Hit New All-Time High Above $60.
In January this year, the token was worth just $2.
On the 20th of July Solana was worth 21$
Just 2 days ago, it was priced at just 45$
At this stage, a correction is more likely than a rise at higher levels, no matter what Bitcoin does next. The price would need to check the 63.83 level as support (previous resistance) before rising higher.
Personally, I am short on Solana with my stop loss at 76$ and a target profit level of 59,3$ and 55$.
But that is just me hedging my exposure on other cryptos which I am long on.
Last Thursday, Mango markets, a high-speed, decentralized exchange powered by Solana, announced a successful $70 million crowdfunding. A week ago, the Solana Foundation launched the Wormhole update, allowing integration between different types of blockchains on its network, such as the Binance Smart Chain, non-fungible tokens (NFTs), and crypto price data. All this is great news but I really doubt that Solana will compete with Ethereum, Cardano and even Polkadot.
Like the so-called “ETH killers”, such as Polkadot and Cardano, the project claims to offer a faster and more efficient alternative. For instance, Solana says it is capable of processing more than 50,000 transactions a second, rivaling Visa’s claimed 65,000 transaction messages a second (TPS). However, it currently handles 6,110 TPS, according to solanabeach.io, an information platform maintained by one of the network’s validators, Staking Facilities.
I might be wrong, I might be right, this is my opinion. It's not easy to dare going short on a raging bull. Solana has been exactly that in the last days. Many people have just discovered it.
FOMO costs money. Solana is a train I missed but also a train i catch a little later.
🚩🚩🚩PS. Solana's Max Supply? Unlimited 🚩🚩🚩
One Love,
the FXPROFESOR
Trade closed: target reached
Our first target for yesterday's short was reached, so no damage but SOLANA is BULLISH now over resistance and checked it as support
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🐾 TOP DOGS TEAM is LIVE! 🚀 Join the $6M KCGI 2025 battle — Signals, Charts & Coaching included.
💰 Min: $100 | 🎯 Register by July 23
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💰 Min: $100 | 🎯 Register by July 23
🔗 fxprofessor.com/top-dogs-team
📣 Telegram: t.me/fxprofessor88
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.