Solana respecting the 200 day moving average
Solana is going daily-up (today's daily candle is higher than the previous daily candle) right after hitting the 200 day moving average.
Most of 2021 Solana had relative strength off of oversold periods which we're at now. I got long SOL yesterday and will add if it reclaims 26.80, targeting the 31 - 32 range.
Solana also looks better than ETH as long as it stays above this pennant:
Long term I think Solana is a solid blue chip project to own and looks decent here to DCA as a core long term holding if you're not a trading and looking to build positions in crypto.
Something to keep in mind - market is still at high risk of a continued washout and further downside this year, but that doesn't mean it has to happen all in one 4 weeks. Breakdowns are a process. Completely possible yesterday was the bottom in crypto, but I would bet it was local low rather than a major bottom. Big difference between the two. Either way, taking it level by level for now.
GL
Most of 2021 Solana had relative strength off of oversold periods which we're at now. I got long SOL yesterday and will add if it reclaims 26.80, targeting the 31 - 32 range.
Solana also looks better than ETH as long as it stays above this pennant:
Long term I think Solana is a solid blue chip project to own and looks decent here to DCA as a core long term holding if you're not a trading and looking to build positions in crypto.
Something to keep in mind - market is still at high risk of a continued washout and further downside this year, but that doesn't mean it has to happen all in one 4 weeks. Breakdowns are a process. Completely possible yesterday was the bottom in crypto, but I would bet it was local low rather than a major bottom. Big difference between the two. Either way, taking it level by level for now.
GL
Trade closed: target reached:
out at 31.50. will look again if it sees 28 handle or consolidates above 33