SOL is creating a new support at 140. Makes perfect psychological sense that it's ranging between 135-145.
PA printing a healthy correction after showing bearish divergence on the money flow index (MFI) indicator
Healthy because trade volume is confluent with price on 1D
As for future predictions, I can see 2 situations happening depending on other alt hype/BTC
less likely
1) IF there happens to be a significantly more exciting coin than $SOL in the next few days - I would expect money to temporarily flow out of SOL and into the other asset, allowing price to drop to next SR/fib level. We see demand filled like crazy and rocket to 200
more likely
2) IF bulls are still stubborn bullish and diamond hands be diamonding - I think we range here for a day or two before the next move up to maybe 165 or 180
unlikely
1) IF we push up from here - to be honest, I will likely be very confused depending on the context. Likely some FA /event I missed.
Still macro bullish on SOL, but as a trader I will defs take the opportunity to sell some coin then come back for the next pump. I've taken some profit, but still have a good chunk in SOL.
PA printing a healthy correction after showing bearish divergence on the money flow index (MFI) indicator
Healthy because trade volume is confluent with price on 1D
As for future predictions, I can see 2 situations happening depending on other alt hype/BTC
less likely
1) IF there happens to be a significantly more exciting coin than $SOL in the next few days - I would expect money to temporarily flow out of SOL and into the other asset, allowing price to drop to next SR/fib level. We see demand filled like crazy and rocket to 200
more likely
2) IF bulls are still stubborn bullish and diamond hands be diamonding - I think we range here for a day or two before the next move up to maybe 165 or 180
unlikely
1) IF we push up from here - to be honest, I will likely be very confused depending on the context. Likely some FA /event I missed.
Still macro bullish on SOL, but as a trader I will defs take the opportunity to sell some coin then come back for the next pump. I've taken some profit, but still have a good chunk in SOL.