Here is my first technical analysis on Solana vs USD. :-)
As you can see on this daily chart, there is a triangle formation which is in progress to upside breakout; this, of course should be confirmed on a daily closing basis !
Looking at shorter time frames, after the recent sharp upside move towards an intraday high so far @ 189.8250 reached earlier today, it is more than likely to see some profit taking (ongoing process) and this
should be seen as a good buying opportunity at lower levels.
First level to watch will be $ 176.00 ahead of $ 171.50 , former H1 congestion zone.
On a daily basis, dips towards the TS (currently @ 167) ahead of the daily support trend line @ 162 and also MBB @ 160 should be seen as a good strategic level to build long exposure)
Have a nice day
Kind regards
Ironman8848
As you can see on this daily chart, there is a triangle formation which is in progress to upside breakout; this, of course should be confirmed on a daily closing basis !
Looking at shorter time frames, after the recent sharp upside move towards an intraday high so far @ 189.8250 reached earlier today, it is more than likely to see some profit taking (ongoing process) and this
should be seen as a good buying opportunity at lower levels.
First level to watch will be $ 176.00 ahead of $ 171.50 , former H1 congestion zone.
On a daily basis, dips towards the TS (currently @ 167) ahead of the daily support trend line @ 162 and also MBB @ 160 should be seen as a good strategic level to build long exposure)
Have a nice day
Kind regards
Ironman8848
Trade closed: target reached:
Triangle target @ 217.85 reached . Intraday high 218.20