Solana / SOLUSDT has some GREAT upside potential from this point, and SOL is no stranger to parabolic upside movements. We know this because:
✅ SOLUSDT Macro Cycle analysis shows Accumulation Phase ✅ SOLUSDT established a clear bottom with CryptoCheck START v3.5 RSI showing oversold ✅ SOLUSDT is currently trading rangebound AFTER bearish cycle has completed ✅ According to market cycle / phase analysis, the next step to follow is the bullish cycle ✅ Clear support zone & resistance zone -ranges can be identified by using Technical Indicators
Even thought the price may continue to trade range bound for a period of time, the next big market cycle is clearly the bullish phase. It may take some patience on the trader's side, but this is an ideal buy zone for the accumulation phase.
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Allthough it's true that fundamental analysis is important (and there is a lot of scrutiny in the crypto environment with regards to regulations atm), the conclusion shouldn't be disregarding of technical analysis. We're very clearly in accumulation phase here, and although the price can still head lower, the next phase is clearly the bullish cycle.
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Looks like SOLBTC found a bottom; for the short term possible range trading followed by longer term breakout:
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Solana is up 15% in the past 24h, we'll be looking to take profits here as the technical indicators turn bearish on lower timeframes:
SOLUSDT chart looks great for entry but BTCUSDT still looks like it has a bit more room to the downside. i think this is great entry but we could get even better thanks to bitcoin.