SOLANA/USD
Fundamentally, I don't think I really need to go over the macro events at play and where we are in terms of the broader market hint bearish
On technical analysis it's quite clear and obvious we are on a downtrend that is not looking to stop soon
MONTHLY The bulls did not even put up a fight, we closed the previous month on a Doji candle with a very low, low. The possible scenario here is that we cover the entire candle from August 2021 and melt through all that clean traffic (clean traffic: In technical analysis, it's always important to 'look left', since history repeats itself if price action is choppy then it is most likely to repeat and vice versa) back down to at least $40-45 but let's try be optimistic
WEEKLY/DAILY By optimistic, I still mean I am bearish, but less bearish... We just broke a 3 month support. This is important to watch what happens to this support either break below $83 and retest it before we go lower to $65 or we get a quick squeeze to $90 before pressing lower again to $60-65
TL;DR there are some really good short opportunities that require some further waiting and perhaps a few sell stops to catch the falling knives
Fundamentally, I don't think I really need to go over the macro events at play and where we are in terms of the broader market hint bearish
On technical analysis it's quite clear and obvious we are on a downtrend that is not looking to stop soon
MONTHLY The bulls did not even put up a fight, we closed the previous month on a Doji candle with a very low, low. The possible scenario here is that we cover the entire candle from August 2021 and melt through all that clean traffic (clean traffic: In technical analysis, it's always important to 'look left', since history repeats itself if price action is choppy then it is most likely to repeat and vice versa) back down to at least $40-45 but let's try be optimistic
WEEKLY/DAILY By optimistic, I still mean I am bearish, but less bearish... We just broke a 3 month support. This is important to watch what happens to this support either break below $83 and retest it before we go lower to $65 or we get a quick squeeze to $90 before pressing lower again to $60-65
TL;DR there are some really good short opportunities that require some further waiting and perhaps a few sell stops to catch the falling knives