Fun

Solana Could Dominate Markets Next Month, Says Top Analyst

News Feed - 2025-04-29 09:04:19

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español.


Daily price action in the SOL/BTC pair is beginning to paint a sharply different picture from the one that dominated the first quarter, according to a chart shared on Sunday by veteran trader Josh Olszewicz.


The one-day chart sets out a textbook inverse-head-and-shoulders (iHS) basing pattern that has been forming since early March and is now approaching the neckline around 0.00162 BTC. At the time of the screenshot, SOL was quoted at 0.001588 BTC. With bitcoin changing hands near $94,765, that places Solana at roughly $150 per coin. SOL/BTC chart | Source: X @CarpeNoctom


The anatomy of the pattern is hard to miss: a March 19 low at 0.00127 BTC ($120) forms the head, flanked by higher swing lows on March 11 left shoulder). The left shoulders is currently in the process of forming. The horizontal neckline aligns with the late-December floor that broke down in February, converting sturdy support into equally sturdy resistance. Measured from the head to the neckline, the amplitude is roughly 0.00033 BTC; a clean breakout would imply a technical objective near 0.00195 BTC—conveniently the lower boundary of the Kumo cloud’s far edge. Solana Bulls Have A Target


The chart is overlaid with a long-look Ichimoku configuration (20/60/120/30). At the latest close the Tenkan-sen sat at 0.00150 BTC, the Kijun-sen exactly on the neckline at 0.00162 BTC, and Senkou Span A printed 0.001742 BTC while Span B held higher at 0.002159 BTC. The cloud itself remains bearish—thick, red and overhead—yet the span differential is beginning to compress, signalling waning downward momentum. A decisive push into the Kumo would trigger the classic Ichimoku edge-to-edge trade, targeting Span B at roughly 0.00216 BTC (about $205). Related Reading Solana Will Face A Pivotal Moment In May – Bear Market Bounce Or Bull Market Dip? 1 day ago


The bullish setup is occurring only two months after the market completed the mirror image of the same pattern. From mid-December to early-February, SOL/BTC carved out a prominent head-and-shoulders, lost the neckline in early February and cascaded directly to March’s iHs. That down-and-up symmetry gives extra weight to the current formation by demonstrating how faithfully the pair has respected classical geometry during the past half-year.


“1D SOL/BTC – iHS + E2E at some point but not soon, probably late May,” Olszewicz wrote on X. The analyst’s caution reflects the fact that price is still beneath both the neckline and the Kijun-sen, and the Kumo does not thin materially until the final week of May. A premature break attempt risks rejection into a final right-shoulder retest near 0.00151 BTC ($143), which is also where the Tenkan-sen currently resides.


Notably, the Chikou Span (lagging line) remains below price and cloud, emphasising that trend confirmation is pending; both Ichimoku purists and pattern traders could therefore agree that 0.00162 BTC is the line Solana bulls must flip decisively. Related Reading Solana (SOL) Holding Strong Above $150 — Breakout Zone In Play 3 days ago


If the edge-to-edge objective is achieved, SOL would add roughly 26 % against Bitcoin from present levels and reclaim ground last seen in early February. Should the neckline reject yet again, downside protection is thin until the twin shoulders at 0.00145–0.00148 BTC; a break of that shelf would invalidate the bullish thesis and reopen the March trough.


For now, the market is content to coil beneath resistance while the clock ticks toward the cloud’s inflection. Whether Olszewicz’s late-May timetable proves prescient will depend on Bitcoin’s own trajectory and the broader risk environment, but the price structure on the Solana/Bitcoin chart is clear: after a bruising winter, the bulls finally have a pattern worth defending.


At press time, SOL traded at $149. SOL hovers below the 50-day EMA, 1-day chart | Source: SOLUSDT on TradingView.com Featured image created with DALL.E, chart from TradingView.com

News Feed

Patoshi Researcher Says “Altruistic” Satoshi Will Never Spend His 1.1M Bitcoin
Patoshi Researcher Says “Altruistic” Satoshi Will Never Spend His 1.1M BitcoinBitcoin founder Satoshi Nakamoto will never spend his “1.1 million bitcoins” because he
New ‘overlay attacks’ are a growing threat to crypto users — security CEO
Christopher Roark3 hours agoNew ‘overlay attacks’ are a growing threat to crypto users — security CEOThe attackers are creating fake overlays to trick users into providing login credentials for financial services a
Tom Mitchelhill7 hours agoFriend.tech denies report that database of over 100K users was leakedFriend.tech has hit back at a report that suggested that its API leaked personal data of its users.1472 Total views9 Total sh
Increase Your Profit Potential With Margin Trading
Increase Your Profit Potential With Margin TradingSpot trading is a popular way for investors to access the crypto market in a straightforward manner. It’s mainly fiat-to-cryp
Tommy Hilfiger to Showcase Spring 2022 Collections and NFT Wearables at Decentraland’s Metaverse Fashion Week
Tommy Hilfiger to Showcase Spring 2022 Collections and NFT Wearables at Decentraland’s Metaverse Fashion Week On Monday, Tommy Hilfiger has announced the company is joining the i
CFTC Chairman: US Must Lead the World in Crypto With Less Restrictive Rules
CFTC Chairman: US Must Lead the World in Crypto With Less Restrictive RulesThe chairman of the Commodity Futures Trading Commission (CFTC) has called on other regulators to establis
South Korean Crypto Transactions Command an Average of $7 Billion per Day on Domestic Exchanges
South Korean Crypto Transactions Command an Average of $7 Billion per Day on Domestic Exchanges An investigation unveiled a growing fever among crypto traders in
a16z co-founders pledge to support Trump in wake of Vance VP pick: Report
Alex O’Donnell6 hours agoa16z co-founders pledge to support Trump in wake of Vance VP pick: ReportNumerous Silicon Valley insiders are reportedly donating to the Republican presidential nominee.3820 Total views4 Total
France’s 3rd Largest Bank Societe Generale’s Subsidiary Obtains Registration as Digital Asset Service Provider
France"s 3rd Largest Bank Societe Generale"s Subsidiary Obtains Registration as Digital Asset Service Provider Societe Generale-Forge, a subsidiary of France’s third-largest
Tom Mitchelhill4 hours agoNew figures show hardly anyone is using ERC-4337 smart accountsAccount abstraction advocate John Rising shared “sobering” figures concerning the adoption of ERC-4337 smart accounts.2496 Tota
BIS advises central banks to plan in advance for CBDC security
Derek Andersen5 hours agoBIS advises central banks to plan in advance for CBDC securityFrom legal issues to hackers, launching a CBDC is fraught with risks, and BIS has a big list of them to consider.3580 Total views5 To
Ezra Reguerra13 hours agoCrypto lawyer about SEC: ‘Problematic to imply all NFTs are securities’Oscar Franklin Tan, the chief legal officer of NFT platform Enjin, told Cointelegraph that it’s very problematic to im