That's me a few months back. I was staring at my phone, SOL spiking from $150 to $180 overnight, and I had no clue where to start. Felt dumb. But now? I chart it daily. It's not rocket science. You just need the right spots and a bit of practice. We'll walk through it like I'm right there with you, screen sharing.
In my experience, the best way to learn charting SOL is hands on. Don't just read-open a chart while we go. Grab TradingView first. It's free, no BS signup needed for basics. Why TradingView? Everyone uses it. Clean, fast, and crypto native. Head to tradingview.com, type SOLUSD in the search bar up top. Boom. Chart loads. That's your SOL price against USD. Pretty much instant.
Zoom out to the 1-day candle. See those green and red bars? That's candlesticks. Each one shows open, high, low, close for that day. Green means it closed higher than it opened-bullish vibe. Red? Opposite. I usually start here to spot the big picture. Is SOL in an uptrend? Making higher highs and higher lows? Or crashing with lower lows?
Now, switch to 4-hour or 1-hour if you're day trading. Shorter timeframes show the noise. The thing is, newbies zoom in too much and freak out over tiny wiggles. Step back. Why does this matter? Trends on daily confirm what you're seeing intraday.
Sound familiar? Yeah, first time I saw a hammer-long bottom wick-it screamed "buy the dip." Test it: find one on SOL's chart from last week.
Okay, draw lines. Horizontal ones. Find where price bounced up multiple times-support. Bounced down? resistance. On SOLUSD daily, look around $150 lately. That's been support. Price hits it, bounces. Breaks below? Uh oh, next support maybe $130.
How to draw 'em? Click the line tool on left sidebar. Drag across touches. I usually do 3+ touches to call it real. Blue below price for support, red above for resistance-like that cheat sheet thing traders use. In my experience, SOL respects these 80% of the time. Break with volume? Big move coming.
Potential issue: choppy markets. SOL sideways between $170-180? Lines blur. Solution? Zoom out to weekly. Bigger picture wins.
Click the indicators button-looks like Fx. Search these:
1. Moving Averages (MA). 50-day and 200-day. Golden cross? 50 crosses above 200-buy signal. Death cross? Sell. SOL had a golden cross back in late 2024, pumped hard. I usually watch 20 EMA on 4H for entries. Price above? Bullish.
2. RSI (14-period). 0-100 scale. Above 70? Overbought, might dump. Below 30? Oversold, buy opportunity. Why? Measures momentum. SOL hit 85 last month-sold some, made bank. Divergence? Price new high, RSI lower high? Reversal coming.
3. MACD. Histogram and lines. Line crosses signal up? Bullish. I love this for breakouts. Crossover with volume spike = enter long.
Don't stack 10. Confuses you. These three cover trend, momentum, overbought/oversold. Honest talk: indicators lag. Price first, always.
Let's say SOL's coiling at $179 resistance. Here's exactly what I do.
Did this last week. SOL broke $175, I longed at $176.50, out at $182. 3.5% gain, risked 2%. Gas? Negligible on Solana-~0.000005 SOL per tx. Fees ate 0.06% round trip.
But wait, charting ain't perfect. Here's where I messed up early.
| Screw up | What Happened | Fix |
|---|---|---|
| FOMO entry no confirm | Bought top of wick, dumped 10% | Wait for close above resistance + volume |
| No stop loss | SOL flashed crashed to $140, bagheld | Always 3-5% max risk. Automate it. |
| Ignored news | Missed FTX vibes, SOL tanked 50% | Check Twitter/X for Solana updates daily |
| Wrong timeframe | 1-min scalps wrecked by 1H trend | Multi timeframe: daily bias, 4H entry, 15min fine tune |
Look, SOL's volatile. 20% days normal. Paper trade first-TradingView replay mode. Replay past week, chart as if live. Builds muscle memory without losing shirt.
Once basics click, hunt patterns. Candlesticks first. Bullish engulfing on daily? Rare, powerful. SOL did one at $130 support-doubled from there.
Chart patterns next. Head and shoulders? Top in. Inverse? Bottom. Flags? Continuation. Measure targets: pole height added to breakout.
In my experience, combine with Elliott waves for SOL. Waves 1-5 up, ABC down. But honestly? Waves are fuzzy on short frames. Stick to 4H+.
TradingView's king, but..
Exchanges: Binance for spot/futures. Bybit for perps-0.055% fees. Kraken US friendly, low fees. Fund with USDT. Trading pair: SOL/USDT. Want leverage? 5-10x max, or you'll get rekt.
Mobile? TV app sucks less now. Dexscreener for Solana memes, but for SOL price? Centralized charts better.
Alerts: Set price > $180, RSI >70. Email or Discord ping. Saved me FOMO buys.
Free TV fine forever. Pro ($15/mo)? More indicators, no ads. I pay-cleaner multi charts. Side by side SOLUSD and SOLBTC. Correlation check.
What's next? Backtest. Replay 2024 SOL run from $20 to $250. Chart every breakout. Note wins/losses. Journal it. That's how pros think.
Charts predict, don't guarantee. SOL's got macro baggage-FTX scars, inflation at 1.5-8%. Network outages? Rare now, but watch.
Rules I live by:
Shorting SOL? Futures. Borrow, sell high, buy low. Risky-unlimited loss. Stop tight.
SOL at ~$179, down 2% daily. Resistance $180-185. Support $170. RSI 55-neutral. MACD flattening. Volume meh. My call? Wait for $170 bounce or $185 break. No chase.
Play it: Set alert $170. If hammer + volume, long to $190. Stop $165. Easy 10% if right.
Strategies to chart around. Breakout? Chart levels. DCA? Ignore noise, monthly average. Day trade? 15min RSI/MACD.
Every morning: 10 mins on SOL chart. Mark S/R, check indicators, note bias. Evening review: what moved it? News? Whales?
Your turn. Open TradingView now. Chart SOL. Find last breakout. Would you have traded it? Tweak stops. Mess up? Good-learning.
Hit snags? Volume not loading? Refresh, VPN if blocked. Fees high? Spot over futures. SOL gas dirt cheap anyway.
That's it. Charting SOL's addictive once it clicks. You'll spot setups everywhere. Text me your first win screenshot. Go crush it.