Solana rallies as Republicans' midterm loss raises hopes of US-Iran war ending
Forexlive
<p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;">Solana rebounded strongly yesterday after the
Democrats won both the House and the Senate in the US midterm elections.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;">It looks like the market believes the Republicans’
loss will force Trump to seek an exit from the Iran war, eventually supporting
economic growth and risk appetite as energy prices sink.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;">That’s also what we saw in the oil market
yesterday, as prices dropped quickly after US Vice President Vance blamed the
war with Iran for the loss in the midterm elections. His post on X reinforced
market expectations that the Trump administration could seek an off-ramp from
the conflict rather than escalate the war.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;">Keep in mind, though, that Trump can legally
continue military operations against Iran even if Democrats control both the
House and the Senate. So, it's not that simple to force Trump out of the war,
and the final decision still rests with Trump. But for now, this seems to be
the scenario the market is betting on.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;">Looking ahead, the focus will remain on US-Iran
negotiations. A diplomatic breakthrough would likely support Solana through
improving growth expectations and stronger risk appetite, especially given its
higher-beta characteristics. An escalation, on the other hand, could trigger
another selloff as growth concerns intensify and investors rotate towards
safe-haven assets.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;"> </p><p class="MsoNormal" style="margin: 0 0 11px; font-family: Aptos, sans-serif; font-size: 15px;">SOLANA TECHNICAL ANALYSIS – DAILY TIMEFRAME</p><p></p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;">On the daily chart, we can see that <a href="https://www.tradingview.com/symbols/SOLUSD/" rel="follow">Solana</a>is trading near the major upward trendline. We can expect the sellers
to lean on the trendline, with a defined risk above it, to target a break below
the upward trendline. The buyers, on the other hand, will want to see the price
breaking higher to increase the bullish bets into the 148.00 handle next, with
the 113.00 level as the first target.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;"> </p><p class="MsoNormal" style="margin: 0 0 11px; font-family: Aptos, sans-serif; font-size: 15px;">SOLANA TECHNICAL ANALYSIS – 4 HOUR TIMEFRAME</p><p class="MsoNormal" style="margin: 0 0 11px; font-family: Aptos, sans-serif; font-size: 15px;"></p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;">On the 4 hour chart, there’s not much we can add
here as the sellers will have a better risk to reward setup around the downward
trendline, while the buyers will need a breakout to extend the rally into new
highs, or a bounce around the major upward trendline.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;"> </p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;">SOLANA TECHNICAL ANALYSIS – 1 HOUR TIMEFRAME</p><p></p><p>On the 1 hour chart, we
have a minor support zone around the 94.00 handle where the price got rejected
from several times in the past days. If we get a pullback, we can expect the
buyers to step in around the support, with a defin
Democrats won both the House and the Senate in the US midterm elections.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;">It looks like the market believes the Republicans’
loss will force Trump to seek an exit from the Iran war, eventually supporting
economic growth and risk appetite as energy prices sink.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;">That’s also what we saw in the oil market
yesterday, as prices dropped quickly after US Vice President Vance blamed the
war with Iran for the loss in the midterm elections. His post on X reinforced
market expectations that the Trump administration could seek an off-ramp from
the conflict rather than escalate the war.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;">Keep in mind, though, that Trump can legally
continue military operations against Iran even if Democrats control both the
House and the Senate. So, it's not that simple to force Trump out of the war,
and the final decision still rests with Trump. But for now, this seems to be
the scenario the market is betting on.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;">Looking ahead, the focus will remain on US-Iran
negotiations. A diplomatic breakthrough would likely support Solana through
improving growth expectations and stronger risk appetite, especially given its
higher-beta characteristics. An escalation, on the other hand, could trigger
another selloff as growth concerns intensify and investors rotate towards
safe-haven assets.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;"> </p><p class="MsoNormal" style="margin: 0 0 11px; font-family: Aptos, sans-serif; font-size: 15px;">SOLANA TECHNICAL ANALYSIS – DAILY TIMEFRAME</p><p></p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;">On the daily chart, we can see that <a href="https://www.tradingview.com/symbols/SOLUSD/" rel="follow">Solana</a>is trading near the major upward trendline. We can expect the sellers
to lean on the trendline, with a defined risk above it, to target a break below
the upward trendline. The buyers, on the other hand, will want to see the price
breaking higher to increase the bullish bets into the 148.00 handle next, with
the 113.00 level as the first target.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;"> </p><p class="MsoNormal" style="margin: 0 0 11px; font-family: Aptos, sans-serif; font-size: 15px;">SOLANA TECHNICAL ANALYSIS – 4 HOUR TIMEFRAME</p><p class="MsoNormal" style="margin: 0 0 11px; font-family: Aptos, sans-serif; font-size: 15px;"></p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;">On the 4 hour chart, there’s not much we can add
here as the sellers will have a better risk to reward setup around the downward
trendline, while the buyers will need a breakout to extend the rally into new
highs, or a bounce around the major upward trendline.</p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;"> </p><p class="MsoNormal" style="font-family: Aptos, sans-serif; margin: 7px 0; font-size: 15px;">SOLANA TECHNICAL ANALYSIS – 1 HOUR TIMEFRAME</p><p></p><p>On the 1 hour chart, we
have a minor support zone around the 94.00 handle where the price got rejected
from several times in the past days. If we get a pullback, we can expect the
buyers to step in around the support, with a defin
Read the full story
This is a short summary. The complete article is published by Forexlive.
Headline and summary aggregated from public news feeds. For information only — not financial advice.