SOL mostly likes to move in big spurts that precede market up and down turns. The laddering up we are witnessing, moving up past the 200 week MA in lower time frames and daily and getting close on 4 and 6 HR, plus 5 days in a row closing green, is looking very very bullish to me! Still - SOL is powerful and it seems to be building some steam... The narrative is very good right now too. Keep in mind that not only did the Solana people solve their congestion issues - they did it very quickly and they were completely UP FRONT about the issues. That is mad bullish! Further more at the end of MAY they have a second update for fine tuning on the chain and then sometime either late this year or early next year we will get FIREDANCER and that should be a game changer - again - from SOL. So with so many Bullish catalysts in the pipeline it is only a matter of time before SOL leaps up off the ladder! The current levels are still very affordable. I am stacking and staking and waiting. I noticed liquidation levels for SOL today are around 5 million... you know what cannot be liquidated? A good solid HODL! This is just my take and not at all financial advice. Good luck and happy trading!
BTW I just put out a new track celebrating $GUMMY!( I am a music maker first and foremost)
Check it out on Spotify or any platform in the known universe starting tomorrow.
(THE GUMMY THEME by CRYPTOSEED JOHNNY)
BTW I just put out a new track celebrating $GUMMY!( I am a music maker first and foremost)
Check it out on Spotify or any platform in the known universe starting tomorrow.
(THE GUMMY THEME by CRYPTOSEED JOHNNY)
Trade active:
IN TODAY'S EPISODE OF THE SOL LADDER... SOL went to peak into the basement (thank you Grayscale dump and Middle East Conflict and SEC!) Unfortunately for me I am tapped and could not BUY THE DIP but I did take a long which I am currently sweating thru after 24 hours..... If we pump this weekend that little trade will work out. My general thesis is undeterred. SOL is past the congestion issues and has a number of bright pumps on chain as I write (AR, MEW ,WF) It is only a matter of time before we go boom. Trade safe and remember this is not advice financial or otherwise.
Trade closed: stop reached:
I just got stopped out of my LONG. No problem. I will continue to buy on SPOT. Worse case scenario is SOL waits til SEPT Breakpoint to RIP to ATH. Im more patient than stupid Bears. SOL is not going anywhere but up. There is far too many good projects and activity on the chain. Lost today but learned a good lesson. WAIT for the LONG to come to YOU and keep a tighter SL even if it means getting Stopped out early - OR - just buy SPOT it is SAFER!
Comment:
I knew a Friday night dump was coming! Hard resistance again at 123 if it goes that far. If SOL drops below that we could see 80 again in which case a phat bounce would be in order. I just took another LONG - a small one at 138 and set a real low SL at 111 at very low leverage. Just hoping to get my dough back from previous stop out. While that is going on most energy is on SPOT stacking right now. Leverage is a just a little amusing side game.... NOT AT ALL FINANCIAL ADVICE - Im only learning aloud don't get rekt