{"id":32684,"date":"2024-06-19T12:27:01","date_gmt":"2024-06-19T12:27:01","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/solana-very-close-to-triggering-a-key-buy-signal-analyst-says\/"},"modified":"2024-06-19T12:27:01","modified_gmt":"2024-06-19T12:27:01","slug":"solana-very-close-to-triggering-a-key-buy-signal-analyst-says","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/solana-very-close-to-triggering-a-key-buy-signal-analyst-says\/","title":{"rendered":"Solana \u201cvery close to triggering\u201d a key buy signal, analyst says"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/solana-sol-symbol-on-smartphone-screen-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/solana-sol-symbol-on-smartphone-screen-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/solana-sol-symbol-on-smartphone-screen-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/solana-sol-symbol-on-smartphone-screen-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Solana (SOL) saw a slight bounce on June 19, trading to $141 after a downturn that had bulls defending $130 this week.<\/span><\/li>\n<li><span style=\"font-weight: 400\">However, SOL remains more than 20% down this past month.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Julien Bittel, head of macro research at Global Macro Investor, believes Solana in on the cusp of a bullish flip. With SOL price down 20% in the past 30 days, Bittel took to X to share his outlook with over 69.2K followers.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Global Macro Investor chief researcher pointed to the 30-day historical volatility chart for SOL. <\/span><\/p>\n<p><span style=\"font-weight: 400\">In terms of historical volatility, Solana is near the 50 line. A dip below this line has previously resulted in SOL price bouncing higher.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cWe\u2019re getting very close to triggering a vol buy signal on SOL,\u201d Bittel <a href=\"https:\/\/x.com\/BittelJulien\/status\/1803363468046663796\" target=\"_blank\" rel=\"noopener\">said<\/a>. \u201cA cross below 50 has produced some huge moves over the following two to three months.\u201d<\/span><\/p>\n<p><a href=\"https:\/\/x.com\/BittelJulien\/status\/1803363468046663796\/photo\/1\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-209571\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/06\/solana-buy-signal.jpg\" alt=\"\" width=\"1358\" height=\"603\"\/><\/a><\/p>\n<p><span style=\"font-weight: 400\">In crypto, volatility can present an opportunity or a risk, with traders often looking at \u2018buying the dip\u2019 or \u2018taking profit\u2019.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Market sentiment, industry news and events, regulatory developments, and macroeconomic environment are all factors that influence crypto volatility.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Solana performance<\/span><\/h2>\n<p><span style=\"font-weight: 400\">A look at the chart shows the 30-day historical volatility line sharply moving up after crossing below. <\/span><\/p>\n<p><span style=\"font-weight: 400\">That happened in December 2022 after the downturn that followed <a href=\"https:\/\/coinjournal.net\/news\/this-week-in-crypto-ftx-files-for-chapter-11-bankruptcy\/\">FTX\u2019s implosion<\/a>, with SOL price rising more than 109% in the next two months.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Other occasions include June 2023 when Solana\u2019s token surged 32% and again in August 2023 with 57%. The biggest jump came in September last year when SOL went parabolic with 521% over the next three months. During this bullish flip, SOL rose from under $20 to reach highs of $121 in December.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In February this year, the 30-day historical volatility line for Solana also crossed below the 50 mark. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The upward momentum that followed resulted in a 78% uptick over three months, a breakout that pushed SOL to above $200. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Solana currently changes hands around $137, but price is up more than 780% in the past year.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/solana-very-close-to-triggering-a-key-buy-signal-analyst-says\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Solana (SOL) saw a slight bounce on June 19, trading to $141 after a downturn that had bulls defending $130 this week. However, SOL remains more than 20% down this past month. Julien Bittel, head of macro research at Global Macro [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":32685,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/32684"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=32684"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/32684\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/32685"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=32684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=32684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=32684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}