Transcription
Hello, it's Crypto and I hope you are doing well. We are going to take stock of Solana, the crypto of Solana, where we are concretely in terms of prices, in terms of reloading zones, why we are going down and why we are underperforming compared to BTC or Ethereum at the moment. We also see that there are capital departures at the TVL level, the Total Value Locked on Solana's decentralized finance. Is this a sign of withdrawal or not? Overall, we cover everything in this video and for that, we will start directly with the price analysis where we had a phase of acceleration that began in April and continued very strongly to reach a maximum around 250 dollars for Solana. Then, we had two weeks, we are in the second week of rejection with a return and a retest of 200 dollars which seems to be holding and has been bought back. We know very well that this was a very strong resistance but a somewhat weak support. This is what we could see here. This is what we could see here. And here, apparently, it seems to be holding up rather well. Especially since we have here a price that is quite bearish across the entire altcoin ecosystem. There were many liquidations during the fall that we experienced on BTC. Ethereum liquidated a lot, Solana also liquidated. So, necessarily, there were many stakes here and we see that it is holding up rather well, which is rather positive. Nevertheless, when we look at a classic Fibonacci retracement, taking the low point and the high point, we will see that we are at the 382 level, a little below 200 dollars, around 193 dollars. The 0.5 is at 175 and the 618 at 156. In addition, we are returning to our resistance zone between 180 and 150, to be quite broad, which is globally the rejection zone and the big, big support that we will be waiting for to have a new acceleration. What is important here is to validate the dynamic that we are seeing again here. A dynamic that is rather bullish with a dynamic that was rather bearish in the short term. Here, we are in a phase of invalidation. For that, we will have to continue to establish higher lows that maintain the previous higher lows. Here, 156 dollars, then 126. We must not break this one and ideally, and especially not break this one. Okay? This one is really the most important. This one will be a first indication of the strength of the movement. If we manage to establish ourselves here and move away, that's perfect. If we go a little lower, we must maintain this zone, otherwise it risks being a little more complicated for Solana.
We will clean up the chart and project ourselves into the projection zones. That is to say, the acceleration zones. What are the zones to watch on this side? It's globally quite simple. The first one, we reached it very perfectly during this acceleration phase and the retracement we experienced for Solana. We went to the 1 and the 11 with 290 dollars, which was the first zone. The second zone is at the 1618 with 425 dollars. 425 dollars, which is a very good target for an extension. And if we look at the extension we experienced in the short term with the retracement, that is to say this acceleration followed by this retracement, we will see that we are also reaching the 111 objectives around 400 dollars. So we know that the 111 continuity objective is rather positive. This would mean that we would have another bullish leg, but for that, it is imperative to hold the higher lows and to validate a bullish breakout above 300 dollars. The breakout of 300 dollars will allow us to quickly target the 400 dollars for a next evolution for Solana. It should be noted that Solana will benefit from DeFi. This has always been a bit of the case with meme coins, but not only that. That's why it's always important to check the evolution of the TVL, the total value locked in the protocol, and we see that there has been a cash outflow. Following the fall, it's a reality, but the outflow continued despite the end of the short-term bearish trend here. So that also means that some of the money that was on Solana has gone elsewhere. And it's true that when we have a wave like what we are experiencing with Aster at the moment and globally with DEXs of this type, there are a lot of valuations and a lot of capital withdrawing from blockchains or protocols on other blockchains to go precisely to these short-term projects that attract a lot of people. It's a bit like a liquidity black hole. So liquidity leaves other protocols to go to this protocol. So that's what we are also seeing with Solana. This also explains why we have a temporization of Solana and perhaps slightly more significant liquidations for Solana. If liquidity is no longer on Solana, it means there is less room for maneuver, so be careful. And if we compare Solana to BTC, this comparison of the Solana divided by Bitcoin ratio is always very interesting. The more it falls, the more Bitcoin has strength compared to Solana. If it rises, it means we are outperforming. We see that we had a whole performance from August that took the lead, and unfortunately, it ended here. I think we will go and retest the 0.017 to 0.016 level, which is rather coherent here for a rejection, a re-acceleration, because I think we haven't had enough strength yet for Solana compared to BTC. So here, BTC is dominating, but that's normal at the same time during falls, BTC liquidates and falls much less strongly, and so we will have a Bitcoin that will be stronger than Solana. Nevertheless, when we compare Solana to BTC, we see that we have a phase of outperformance. We had a breakout of trend here. For me, that means we will go a little higher. We will see if we really break the trend or if it's a retest to accelerate. In any case, it will be closely monitored.
Next, we will look at Solana against Ethereum. Solana against Ethereum is always very important, which is the strength of Solana compared to Ethereum. Ethereum has outperformed in the short term. That's why we saw the enormous outperformance of Ethereum since April with the recovery. Solana followed a little at the end of August, but very weakly, and we see that we went to retest this part here. So a perfect zone for a rejection, a bearish continuation, meaning still a continuation of Solana's underperformance compared to Ethereum, to be watched very closely. This does not mean that Solana will not perform. It means that it may have performed less than Ethereum. And perhaps for Solana, we also need to look at what is happening in centralized finance. Perhaps the protocols on Solana will outperform Ethereum and give Solana the boost to continue a strong bullish acceleration. And for that, once again, always check DeFi. And here, we have all the protocols. Ideally, we will look for those that are outperforming, those that have fees, that have revenue, and that have continuous growth. You will see that there are very few protocols that truly tick all these boxes. If this interests you, let me know in the comments. And while you're in the comments, don't forget that you have the link to decentralized finance in the comments and in the description. It's important to understand Solana's strength and at the same time everything that's happening right now. The best way to discover protocols and generate returns. At the same time, 19 pages of guide with a directly applicable strategy from today. It's free, it's in the comments and description. And if you liked this video, suggest in the comments the next crypto you want me to propose and analyze for you. In the meantime, I wish you a very good day and I'll see you very soon. [Music]