SOLUSDT shows upward movement post breakout and retracement, aiming for $80 target.
Alternatively a potential dip to the Fibonacci .5 level might occur, with the rebound anticipated from that point.
It is essential for traders to monitor the market closely and be prepared for both bullish and bearish scenarios.
SOLUSDT (4h Chart) Technical analysis
The entire market is like ranged few days to cool down selling pressure and the feeling is that without serious retracement we could see another pump until BTC goes to 40K USDT and in this case, SOL goes to 80-83 USDT. As you can see RSI is not overbought anymore despite SOL didn't retrace much while OBV really didn't pull back.
I personally don't like so much...
Hello friends, welcome to this SOL/USDT update from Crypto Sanders.
Chart Analysis:- Solana continues to impress with its resilience. After a brief pullback from its resistance at $67, the price is back on an uptrend and booked a 6% increase compared to last week. This makes Solana the best performer on our list.
Buyers defended the price well when it reached...
A EW count on SOL showing the current low as wave ((3)) ended and current move up as a corrective rally (similar to winter 2022 rally, just a larger degree wave)
So far, the technicals have played out very well, not perfectly but good enough to bank great profits on both sides of the trade.
Just a projection, Not Financial Advise.
We are considering two scenarios for the SOL/USDT pair.
After reaching the $68 level, the asset's price dropped to $51.08. At this point, there was a successful test of a strong inclined support level, followed by a confident rebound. Currently, due to the decline, an inclined resistance level has formed.
First Scenario: Upon the third approach to the...
Solana is at a crucial decision point; fail to break resistance or rocket to the next level? Right now it's failing to get back into the bull channel, but hasn't yet broken to the downside.
How do we trade this?
If you're not already in a trade, wait to enter one! For a long, we need a test of Support at the 30EMA, or a break of the Previous Resistance line...
It's pretty simple. Local range high is about to be flipped. I have re-entered the trade after reclaiming the mid-range. Targets are 63 and 68. I'm not ruling out higher. A shift in structure has occurred. A higher low has been established, and naturally I expect the price to take out the highs, at least. I will let it ride unless the previous EQ highs (59.63 -...