This is the pattern we looked at using the UMA chart yesterday, we are using this method to make it simple.
Solana has been in a range for many months. It has been sideways and boring, but don't take this the wrong way, this is a signal of strength.
A bearish wave would continue to produce new lows... This is the consolidation phase.
#1 Is the initial/early year bullish breakout. #2 Is the first low/support after said breakout. #3 Is the higher low (lower low compared to #2 in some cases). #4 Is where we are at all across, the next bullish wave that will take places in the following weeks and months.
Patience is key and remember, what doesn't go down, is because it is going up!
I have been trying to accumulate when I can. The US SEC is making things so hard for us here. I love crypto but this is becoming unbearable not knowing if I'll lose the ability to convert my crypto back into Fiat when I will need to in the future.
DukeDinhd6
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SOL will be delisted from most US exchanges
ErnieS
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Hi Alan, Are we still aming at $50 or not anymore due to the SEC security “challenge”?
AlanSantana
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@ErnieS, The chart continues bullish, so we remain bullish.
The December low needs to be broken for the bullish bias to become invalid.
The_Bitcoin_Boy
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Disagree. Solana will at least double bottom this fall. Until it makes a higher high, betting on one is just hopes and dreams.