Things to Note:
1. Hugging 200 EMA
2. Near Support zone
3. Volume is expanding
P.S: This is NOT investment advice. This chart is meant for learning purposes only and is a part of my personal journal. Invest your capital at your own risk
The Solana blockchain is extremely fast, cheap and is backed by Alameda Research. There are currently 102 projects building on their blockchain.
Today there was a (well-known), large distribution of tokens that effectively 5x'd the circulating supply. Many of these however, will be locked or otherwise held by the team and against what many expected, this event...
A few entry points you might consider stacking
This is a very risky trade as it requires you to maybe lose 40-50% of your position.
For this reason, its wise to use a small balance to mitigate risk.
The upside is 2-7x short term.
Remember this is against Bitcoin not the US DOLLAR
when u start to trade assets that are outperforming bitcoin u can acquire more bitcoin.
not exactly hard to see the pattern here, and I believe this is how it typically would go. However, things are EXTRA strange, EXTRA volatile, EXTRA sensitive to Elon Musk. But still, lady Solana looks like she wanna keep going up.
Sol is doing great even in these harsh days against btc. It has good news coming in future and technically a very strong platform. It can make correction buy don't worry as up trend has not broken and trend is your friend.
What are your thoughts about sol let me know in comments.
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Have a nice day
Not a financial advise