We have witnessed a huge dump in the price of $SOL after Alameda sold off their $SOL. This has certainly shaken the market. In my previous analysis (link is attached to this analysis) I explained my confluences as to why I am bullish on $SOL in this last Quarter of 2022. My bias remains unchanged since the dump was due to a firm selling off their $SOL to rescue their investment in $FTT .
If you look at current $SOL analysis you will see that price has raided the major Sell-Side Liquidity. I can see no further reason for price to drop further from a Price Action point of view. In my opinion, this is the best time to accumulate $SOL on Spot market and low leverage trades. Use proper Risk Management.
N.B: This is for Educational purposes and Not Financial Advice.
With this said, Happy Trading Pals
If you look at current $SOL analysis you will see that price has raided the major Sell-Side Liquidity. I can see no further reason for price to drop further from a Price Action point of view. In my opinion, this is the best time to accumulate $SOL on Spot market and low leverage trades. Use proper Risk Management.
N.B: This is for Educational purposes and Not Financial Advice.
With this said, Happy Trading Pals
Comment:
Major Buy-Side liquidity* not major Sell side liquidity
