{"id":25390,"date":"2024-07-10T16:00:45","date_gmt":"2024-07-10T13:00:45","guid":{"rendered":"https:\/\/coinengineer.io\/?p=25390"},"modified":"2024-07-20T10:09:22","modified_gmt":"2024-07-20T07:09:22","slug":"bullish-pattern-emerges-for-solana-amid-17-price-surge","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bullish-pattern-emerges-for-solana-amid-17-price-surge\/","title":{"rendered":"Bullish Pattern Emerges for Solana Amid 17% Price Surge"},"content":{"rendered":"<p>With the asset rising 17% over the previous week, traders are stressing a positive trend on <strong>Solana<\/strong>&#8216;s price chart and expecting a possible rise.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/bullish-pattern-emerges-for-solana-amid-17-price-surge\/#Bullish_Pennant_Pattern\" title=\"Bullish Pennant Pattern\">Bullish Pennant Pattern<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/bullish-pattern-emerges-for-solana-amid-17-price-surge\/#Market_Performance_and_Cautionary_Notes\" title=\"Market Performance and Cautionary Notes\">Market Performance and Cautionary Notes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/bullish-pattern-emerges-for-solana-amid-17-price-surge\/#Market_Performance_and_Cautionary_Notes-2\" title=\"Market Performance and Cautionary Notes\">Market Performance and Cautionary Notes<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Bullish_Pennant_Pattern\"><\/span>Bullish Pennant Pattern<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Trading site CryptoBusy in a July 18 article, &#8220;<em>SOL Huge PEnnant on the 1D chart noted<\/em>,&#8221; observed Usually, this pattern starts when the price moves significantly lower and consolidates into a triangle-shaped structure. &#8220;<em>Be wary of this price action<\/em>&#8221; they said. Likewise, InvestAnswers&#8217; crypto trading account noted that &#8220;<em>Solana is still showing impressive strength<\/em>&#8221; in comparison to the larger cryptocurrency market.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Performance_and_Cautionary_Notes\"><\/span>Market Performance and Cautionary Notes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Based on CoinMarketCap statistics, <strong>Solana<\/strong> has second-highest gain over the previous seven days among the top ten cryptocurrencies by market capitalization, behind only XRP&#8217;s 23.57% rise. As of right moment, Solana is trading at $160.94, exceeding its short-term goal as seen by crypto trader Honey.<\/p>\n<p>Honey advised against overleveraging, nevertheless, while <strong>Solana<\/strong> is still in a flux. Encouraging her 105,600 X followers to &#8220;go easy on the leverage,&#8221; she said to them, &#8220;this is a pivot area and I&#8217;d be cautious with longs.&#8221;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Performance_and_Cautionary_Notes-2\"><\/span>Market Performance and Cautionary Notes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Expanding their holdings in line with this optimistic trend are futures traders Based on CoinGlass statistics, Open Interest (OI)\u2014the total value of all existing Bitcoin futures contracts across exchanges\u2014has risen by 22.14% to $2.13 billion during the previous 10 days.<\/p>\n<p>Honey said that while <strong>Solana<\/strong> may reach $192, should it fail to maintain its present level, it runs the danger of sliding below $140. A decline to this level would wipe almost $161 million in long bets.<\/p>\n<p>Other traders, such Crypto Tony, think that the $160 level calls for another 1.3% rise as it is not the necessary support for entrance. &#8220;Upticking nicely here, reclaiming $161 into support is the next goal,,&#8221; said Crypto Tony. \u201cAbove $163 is another level to reclaim for an easy, safer entry,\u201d they added.<\/p>\n<p><i><span style=\"font-weight: 400\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <\/span><\/i><a href=\"https:\/\/t.me\/coinengineernews\"><i><span style=\"font-weight: 400\">Telegram, <\/span><\/i><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\"><i><span style=\"font-weight: 400\">YouTube<\/span><\/i><\/a><i><span style=\"font-weight: 400\">, and <\/span><\/i><a href=\"https:\/\/twitter.com\/coinengineers\"><i><span style=\"font-weight: 400\">Twitter<\/span><\/i><\/a><i><span style=\"font-weight: 400\"> channels for the latest <\/span><\/i><a href=\"https:\/\/coinengineer.net\/blog\/news\/\"><i><span style=\"font-weight: 400\">news<\/span><\/i><\/a><i><span style=\"font-weight: 400\"> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the asset rising 17% over the previous week, traders are stressing a positive trend on Solana&#8216;s price chart and expecting a possible rise. Bullish Pennant Pattern Trading site CryptoBusy in a July 18 article, &#8220;SOL Huge PEnnant on the 1D chart noted,&#8221; observed Usually, this pattern starts when the price moves significantly lower and<\/p>\n","protected":false},"author":6,"featured_media":5760,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,9,657,1,2],"tags":[7483,319],"class_list":["post-25390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coin-analysis","category-crypto-news","category-en","category-genel","category-news","tag-bullish-pattern","tag-solana"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bullish Pattern Emerges for Solana Amid 17% Price Surge - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bullish-pattern-emerges-for-solana-amid-17-price-surge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bullish Pattern Emerges for Solana Amid 17% Price Surge - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"With the asset rising 17% over the previous week, traders are stressing a positive trend on Solana&#8216;s price chart and expecting a possible rise. 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