Hey guys today i'm going analysis SOL/USDT pair on daily timeframe,let's jump in to the chart...
1)SOL already in Downtrend since April 2th, and we formed Falling wedge pattern already.
2)We can clearly see SOL first try to breakout from Resistance level and its failed, now it's tested previous Resistance level and turn it acting support level,and now we have more chance to hit Falling Wedge target approximately $58 level.
3)So we can se we have first LOW and then next HIGH and then next HIGHER-LOW, so next one must be HIGHER - HIGH, and this is how Uptrend Formation works,so if we create next HIGHER - HIGH Uptrend will established.
4)When you measure Falling Wedge target,its approximately will be at $58 price level.
5)SOL begin their Downtrend of April 2th,so now SOL in Downtrend already 3 month,now we can see SOL breakout from Downtrend Line, so its first signal for investors,BULLS getting control again in situation.
6)We also use in this analysis CCI Oscillator Indicator,now CCI at 38 level range, so 0-100 level range its buy zone, when CCI rise above +100 we can buy more SOL,so +100 +200 could be strong Uptrend.
Hope this analysis will help some ppl))
1)SOL already in Downtrend since April 2th, and we formed Falling wedge pattern already.
2)We can clearly see SOL first try to breakout from Resistance level and its failed, now it's tested previous Resistance level and turn it acting support level,and now we have more chance to hit Falling Wedge target approximately $58 level.
3)So we can se we have first LOW and then next HIGH and then next HIGHER-LOW, so next one must be HIGHER - HIGH, and this is how Uptrend Formation works,so if we create next HIGHER - HIGH Uptrend will established.
4)When you measure Falling Wedge target,its approximately will be at $58 price level.
5)SOL begin their Downtrend of April 2th,so now SOL in Downtrend already 3 month,now we can see SOL breakout from Downtrend Line, so its first signal for investors,BULLS getting control again in situation.
6)We also use in this analysis CCI Oscillator Indicator,now CCI at 38 level range, so 0-100 level range its buy zone, when CCI rise above +100 we can buy more SOL,so +100 +200 could be strong Uptrend.
Hope this analysis will help some ppl))