A strong and clear supportive trendline - SOL

There's an obvious and powerful ascending trendline that could indicate a lot of further upside, strictly speaking, from a technical point of view.

Comment:

Still interacting with our ascending trendline.

Comment:

BTC has recently crossed the psychological barrier of $50K and maintained its position above it. This indicates that SOL is likely to form a double top and reach up to mid $120s in the next few days. Momentum is expected to be in favor of BTC, which will continue to push SOL and several other altcoins to new recent all-time highs (ATH). While it's uncertain whether we can reach the previous ATH of SOL at $250 within the next few weeks, it's definitely on the horizon. If I was not already invested in SOL, I would wait for a correction to my ascending trendline before jumping in. I plan to exit around $123 in anticipation of a short correction that follows a double-top. However, I plan to re-enter after the correction and aim to break the recent ATH and head towards the previous bull cycle's ATH of $250.

Comment:

Here's the "correction to my ascending trendline," a good place, in my opinion, to jump in.

Comment:

It seems that SOL is still performing well and leading the way. We will have to wait and see if there is a possible dip before the halving that could cause SOL to move away from our golden trendline. However, if BTC experiences a pump after a possible quick dip before the halving, I believe there is a good chance that we will see a repeat of the price increase that occurred during the last three halving events.

Comment:

Over the weekend, SOL appeared to undergo a period of consolidation, but it is now likely to increase in value. The temporary correction that saw it drop to a low of $127.5 is now behind us. I anticipate that we will continue to follow our ascending trendline and reach new RECENT all-time highs. I purchased SOL at $128.3 and am hoping for a short-term surge to the $140-$150 range before we witness any consolidation or correction.

Comment:

I plan to share another chart with you. However, on the 6-hour time frame, I have observed a bear flag formation on $SOL. This could indicate that it's time for a correction towards the $120 area, or possibly lower, back to the ascending trendline. Additionally, StochRSI is indicating more selling pressure. On most time frames, BTC is way overbought on all technical indicators. Although it is Bitcoin season, a correction is always a possibility.

Comment:

Comment:

I'm loading up here (see my comment above). Patience pays off.