SOLANA: Cooling off for the next leg up
SOLANA has been on quite a run lately.
While BTC was making a multi-month low, Solana was pumping towards $50. The hourly channel suggests more downside is in store as this coin cools off from its counter-cyclical bull run. Of course, we could pump straight from here, but I want an optimal setup and that would mean buying in around $41.70 for the next leg up. I'm a believer enough in the trend to set and forget a limit order.
If we don't get there, no big deal. There will be plenty of other opportunities to trade this asset.
While BTC was making a multi-month low, Solana was pumping towards $50. The hourly channel suggests more downside is in store as this coin cools off from its counter-cyclical bull run. Of course, we could pump straight from here, but I want an optimal setup and that would mean buying in around $41.70 for the next leg up. I'm a believer enough in the trend to set and forget a limit order.
If we don't get there, no big deal. There will be plenty of other opportunities to trade this asset.
Trade active:
Active from the touch of the lower level (42.80)
Trade closed manually:
when it could not hold the 46 level