SOL/USDT - Bounced off of the 200 EMA & Broke the 15-Min 100 EMA

Hello Traders,

We got a few confirmations on a move up for SOL/USDT.

1. Bounce/ re-test off of the 200 EMA .
2. Broke 100 EMA , which was acting as a local resistance.
3. We had a downtrend forming from the early hours of today, while the RSI started moving upwards forming a Bullish Divergence .

* Further confirmation and reassurance of an uptrend will be if the recent 100 EMA resistance can now act as the local support. Wait for a pullback to 100 EMA , if it bounces and confirms support level - this will be a good sign to enter the trade.

We can play this a couple of ways.

1. Short-term play to recent highs.
2. Mid-term, Hold w/ patience and we should move into a new ATH and price discovery .

Comment: SOL/USDT looks to now be forming support at the recent 100 EMA (previous resistance) and now needing to break the local 100 MA resistance.
Comment: Held support for an hour at the 100 EMA resistance/ support. Now broken down to retest 200 EMA. Forming higher highs and higher lows.

100 MA acting as a 2nd resistance.
I am not a financial advisor. Nothing that I publish on Tradingview is to be looked at as such. Trade at your own risk and do your due diligence whenever putting money into the cryptocurrency market.


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