Hello everyone !
Today the Black Cat Trader is analyzing
SOLUSDT
on a daily chart.
What we can see :
Ichimoku system : According to the last bitcoin crash, Solana loses its daily Tenkan / Kijun supports. In fact, the previous Kijun support turned into a resistance that Solana must breaks to go higher.
Bollinger band : The BB get closer and tighten. Note that the lower band of the BB gave to Salana a very strong support in the recent dip.
Volume profile : According to the volume profile (fixed range) the point of control is located at 144 $
What we can expect :
Regarding the actual situation we can expect two scenarios:
(N°1)
Solana manages to break its daily Kijun (situated at 144$) and turns it into a good support to go higher. Note that the point of control (VP) is also located at this same level (144$)
- First resistance : 144 $ (Kijun / Point of control)
- Second resistance : 170 $
- Third and ultimate resistance : 216 $ (ATH)
- Big support at 124 $ (lower band of the BB)
TAKE PROFIT N°1 = 437 $
TAKE PROFIT N°2 = 630 $
(N°2)
Solana fails to break its daily Kijun. Then, the price could be stuck between the daily Kijun (144$) and the lower band of the BB during a few days.
Then, if Solana breaks down the lower band of the BB, the price could easily fall directly to the MA 50 located at approximately 103-110$ (depending the time it’ll take).
Major support at : 124 $ (lower band of the BB)
Second support located at : 103-110$ (MA 50)
Last and ultimate support : Top of the Kumo (SSA)
IF YOU LIKE THIS POST, FEEL FREE TO FOLLOW THE BLACK CAT TRADER AND LEAVE A LIKE !!
(D.Y.O.R)
Today the Black Cat Trader is analyzing
SOLUSDT
on a daily chart. What we can see :
Ichimoku system : According to the last bitcoin crash, Solana loses its daily Tenkan / Kijun supports. In fact, the previous Kijun support turned into a resistance that Solana must breaks to go higher.
Bollinger band : The BB get closer and tighten. Note that the lower band of the BB gave to Salana a very strong support in the recent dip.
Volume profile : According to the volume profile (fixed range) the point of control is located at 144 $
What we can expect :
Regarding the actual situation we can expect two scenarios:
(N°1)
Solana manages to break its daily Kijun (situated at 144$) and turns it into a good support to go higher. Note that the point of control (VP) is also located at this same level (144$)
- First resistance : 144 $ (Kijun / Point of control)
- Second resistance : 170 $
- Third and ultimate resistance : 216 $ (ATH)
- Big support at 124 $ (lower band of the BB)
TAKE PROFIT N°1 = 437 $
TAKE PROFIT N°2 = 630 $
(N°2)
Solana fails to break its daily Kijun. Then, the price could be stuck between the daily Kijun (144$) and the lower band of the BB during a few days.
Then, if Solana breaks down the lower band of the BB, the price could easily fall directly to the MA 50 located at approximately 103-110$ (depending the time it’ll take).
Major support at : 124 $ (lower band of the BB)
Second support located at : 103-110$ (MA 50)
Last and ultimate support : Top of the Kumo (SSA)
IF YOU LIKE THIS POST, FEEL FREE TO FOLLOW THE BLACK CAT TRADER AND LEAVE A LIKE !!
(D.Y.O.R)