SOL fibonacci retracement levels, areas of interest, buy orders.
For anyone looking to accumulate SOLANA at lower levels... The local top of Solana on the Daily timeframe and higher time frames is currently $209.64.
On the measured move from SOLANA's bear market capitulation low of $7.89 to the current local top of $209.84... here are the technical levels of interest, based on fibonacci retracement levels (fibonacci math) where I have set limit buy orders on COINBASE to accumulate and dollar cost average (based on technical levels, not time) SOLANA.
These levels and strike prices are based on the COINBASE SOL/USD Chart. So check the exchange you use for differences in strike price between COINBASE SOL/USD pair and the SOL/USD or SOL/USDT pair on the exchange you use to adjust your limit order strike price on any of the technical levels you are interested in setting limit buy orders at with the goal to accumulate SOL at lower levels and DCA into your SOL holdings as price ascends and corrects.
So long as the local top of $209.84 is not defeated, these levels remain technically valid and over time some of these areas of interest will get hit or wick down to.
Personally, my limit buy orders on Coinbase SOL/USD pair are set at the 0.5, 0.618, & 0.786 levels. I have also placed stink bids (limit buys) at lower levels, in the event of a macro global financial or political event that could temporarily drop markets and present a deep discount on SOLANA before buys step in and price reverses. However, it is not unwise to set limit buys at each of the areas of interest or fib retracement levels based on this measured move.
The lower the better, in my opinion, as I would like to accumulate as much SOL as possible before price reverses and the next stage of the macro crypto bull cycle begins.
On the measured move from SOLANA's bear market capitulation low of $7.89 to the current local top of $209.84... here are the technical levels of interest, based on fibonacci retracement levels (fibonacci math) where I have set limit buy orders on COINBASE to accumulate and dollar cost average (based on technical levels, not time) SOLANA.
These levels and strike prices are based on the COINBASE SOL/USD Chart. So check the exchange you use for differences in strike price between COINBASE SOL/USD pair and the SOL/USD or SOL/USDT pair on the exchange you use to adjust your limit order strike price on any of the technical levels you are interested in setting limit buy orders at with the goal to accumulate SOL at lower levels and DCA into your SOL holdings as price ascends and corrects.
So long as the local top of $209.84 is not defeated, these levels remain technically valid and over time some of these areas of interest will get hit or wick down to.
Personally, my limit buy orders on Coinbase SOL/USD pair are set at the 0.5, 0.618, & 0.786 levels. I have also placed stink bids (limit buys) at lower levels, in the event of a macro global financial or political event that could temporarily drop markets and present a deep discount on SOLANA before buys step in and price reverses. However, it is not unwise to set limit buys at each of the areas of interest or fib retracement levels based on this measured move.
The lower the better, in my opinion, as I would like to accumulate as much SOL as possible before price reverses and the next stage of the macro crypto bull cycle begins.