📈 Technical Analysis:
I’ve initiated a long position on
SOLUSD after observing a clean monthly higher low forming near the 23.6% retracement level ($120), bouncing off the key support zone at $97.93, which also aligns with the prior base from mid-2023. The Fibonacci levels drawn from the swing low ($95.16) to the swing high (~$267) suggest the following:
Golden Pocket Zone: $233 – $266 (50%–61.8%)
Major Expansion Targets:
100%: $372
161.8%: $544
200%: $650
227.2%: $726
🔍 Volume shows accumulation in the lower range, and the recent rejection wick hints at demand absorption. A monthly close above $150 could trigger further upside momentum.
📊 Risk/Reward is asymmetric here with downside risk capped near $95 and potential upside of 3x–4x. Monitoring for a breakout above $201 (38.2% level) to add more.
🧠 Narrative: As institutional interest grows in Layer 1 altcoins and ETH’s dominance plateaus, SOL could outperform in the next macro cycle. The chart suggests bullish continuation over the next 6–18 months.
💼 Position Disclosure: Long from $147, targeting $372–$650 range in the coming cycles.
I’ve initiated a long position on
SOLUSD after observing a clean monthly higher low forming near the 23.6% retracement level ($120), bouncing off the key support zone at $97.93, which also aligns with the prior base from mid-2023. The Fibonacci levels drawn from the swing low ($95.16) to the swing high (~$267) suggest the following:Golden Pocket Zone: $233 – $266 (50%–61.8%)
Major Expansion Targets:
100%: $372
161.8%: $544
200%: $650
227.2%: $726
🔍 Volume shows accumulation in the lower range, and the recent rejection wick hints at demand absorption. A monthly close above $150 could trigger further upside momentum.
📊 Risk/Reward is asymmetric here with downside risk capped near $95 and potential upside of 3x–4x. Monitoring for a breakout above $201 (38.2% level) to add more.
🧠 Narrative: As institutional interest grows in Layer 1 altcoins and ETH’s dominance plateaus, SOL could outperform in the next macro cycle. The chart suggests bullish continuation over the next 6–18 months.
💼 Position Disclosure: Long from $147, targeting $372–$650 range in the coming cycles.
Note
This is one of those trades, I just go long, I have my sell order, and rest is upto the marketTrade active
Note
Note
Note
I will add more accordingly. 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.