First, before we get into the long-term BULLISH aspects of Solana as a whole, let's just take a look at the chart...
Here we are looking at
SOLUSD
on the 4HR and we've had a 40% drawdown from the TOP that occurred on Sept 9th. Pullback here is healthy and expected after the massive run-up. We see buyers stepping in between $150 and $130 range, getting a strong bounce off the bottom of that range. If we happen to lose $130, the next area of support I'll be watching is $115-$100. I believe we'll range sideways and to the upside over the next 10 days or so...heating up into the beginning of October where I expect to see some fireworks through Q4-end of year.
Second, outside of the chart is where I see the massive Long-term bull case...
-Quality Devs and the Solana Ecosystem is growing at an incredibly fast rate as Solana is currently in its 3rd Hackathon. The submissions and projects being built on top of Solana attract more and more of the Dev talent from inside and outside of the crypto space.
-HAVE YOU USED IT (Phantom wallet, Raydium Dex, Step Finance, Saber, Serum etc etc etc.....) It is fast, cheap, seamless and just an overall great experience from a user perspective. I believe Solana eventually will have the most active users on a Layer 1 blockchain over time as more and more people use it and see what it offers for themselves.
-Smart Money has and continues to flow into Solana and the ecosystem. You can rest assured that Alameda and the slew of other big investors will continue to support the growth and development in the ecosystem, not to mention the massive community of USERS behind Solana that see the huge upside potential and enjoy using it daily... 28,969,602,449 transactions (yes...billions) to date.
# There's really so much more I could say, but who really reads these things. #
Obviously, I'm incredibly bullish Short/Long-term and this is not investment advice...DYOR
Here we are looking at
SOLUSD
on the 4HR and we've had a 40% drawdown from the TOP that occurred on Sept 9th. Pullback here is healthy and expected after the massive run-up. We see buyers stepping in between $150 and $130 range, getting a strong bounce off the bottom of that range. If we happen to lose $130, the next area of support I'll be watching is $115-$100. I believe we'll range sideways and to the upside over the next 10 days or so...heating up into the beginning of October where I expect to see some fireworks through Q4-end of year. Second, outside of the chart is where I see the massive Long-term bull case...
-Quality Devs and the Solana Ecosystem is growing at an incredibly fast rate as Solana is currently in its 3rd Hackathon. The submissions and projects being built on top of Solana attract more and more of the Dev talent from inside and outside of the crypto space.
-HAVE YOU USED IT (Phantom wallet, Raydium Dex, Step Finance, Saber, Serum etc etc etc.....) It is fast, cheap, seamless and just an overall great experience from a user perspective. I believe Solana eventually will have the most active users on a Layer 1 blockchain over time as more and more people use it and see what it offers for themselves.
-Smart Money has and continues to flow into Solana and the ecosystem. You can rest assured that Alameda and the slew of other big investors will continue to support the growth and development in the ecosystem, not to mention the massive community of USERS behind Solana that see the huge upside potential and enjoy using it daily... 28,969,602,449 transactions (yes...billions) to date.
# There's really so much more I could say, but who really reads these things. #
Obviously, I'm incredibly bullish Short/Long-term and this is not investment advice...DYOR
Comment:
Expansion coming soon...hold on tight