Solana (SOL) is a top gainer of 2021🔥 But what happen to this alt in 2022? It depends on Bitcoin and Ethereum movement. As you see all alts fall by 75-90% following the movements of biggest crypto.
🔥It was expected for Solana that it ALT can fall to the large green zone which is support for the price and a lot of liquidity for the whales. 📊But what about local scenario? On the chart I marked 2 liquidity gaps. As we can see, during the test of the $58-63 gap the price fell by 31%. This shows the weakness of the altcoin, but it did not fall below its lows, as even Etherium did - this is a positive signal.
Now there is a small squeeze under the trend line, but it seems to me that Solana has not yet accumulated enough strength to continue the growth. Therefore, a local decline is possible, and after returning to the trend line and a squeeze, the price can continue to move to the liquidity gap of $58-63.
✅What will indicate the presence of a buyer? The volume indicator will help identify if someone is accumulating a position before the trend line breakout. Therefore, it is essential to keep an eye on volume.
🚩What could stop the growth? It is necessary to pay attention to false breakouts of the local highs of $48.5 and $55. A big player can push the price up to make long traders fuel for the dump. Also, Bitcoin and Ethereum should indicate buyers power.
💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.
in trading everything that go up very fast must go down very bad too..and solana is a coin that in the last 2 year made almost 500x profit. what means 500 x profit? for each 1 dollar invested in solana just 2 years ago people could have made 500 dollars profit in 2021. Nice project off course but price it was to much manipulate , solana need to go back to 5 to 10 dollar
Vovka25
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@PensieriParole, this scam token will go to $2.5-$3 , this garbage not working. It’s shut down globally , let see what scammers from FTX scam exchange will do
Mohannad_Fekry
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update please !?
mohammadjavaherchi031
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As soon as this will happen for xrp when the least expects lawsuit is ending then they will block all platforms to buy xrp and only open sell part then remain holders will then be offered 50dollars per xrp Rapidly buy xrp by extra money before too late remember the announcement of victory of ripple is writting use the latest opportunities for buy xrp lower than.5 dollar
CryptoSnoutTrading
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Nice and simple, good analysis regarding volume gap and LVN
Vibranium_Capital
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Nice on my friend
graceboybigstar
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please am afriad should I sell my Shibainu or keep holding
umersharif2
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love you boss
Shadervin
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Good idea. What is an acceptable and safe stop loss in your opinion if the price is very close to break trendline?