As we mentioned a lot in previous analyses too, after breaking descending channel that is a short-term correction we expect pump:
now the price had that pump and we are again near 210$ resistance zone so any breakouts here will pump price to the targets...
The rsi divergence illustrates a bearish signal in the 4H chart. So we can have a better opportunity to have another buy setup.
The RSI divergence:
All the steps are mentioned on the chart. Be careful that it is not financial advice. Trade at your own risk, please.
The Matic / Solana chart hit support and is about to break the 21 dma. Whenever that happened previously, Matic gained 50%, 250% or more against SOL so it's a no-brainer trade in my opinion.
If Matic fails to break the 21 dma and if it breaks support to the down side, the trade would be invalidated. Based on TA & FA, however, this seems very unlikely.
I am keeping this "short" 😀
Bearish diversion, no retest to the down trend-line yet, golden ratio.
And I can clearly see a bearish bat there.
Pinkish circle is where I see the price dropping to and rebounding with a slight possibility of the drop ending at the 0.786% fib level before it actually gets to the pink circle.
100-SMA (red) should...
even though solana looks bullish , im trying to see a trend break out . so a quick short trade can be done by buying it at 214.72 and sell it as 203.72 . have tried the rectangle to see if that is where the price reactions have happened before and it kind of has , so let me know your views and is solana still looking bullish , till month end ?
Following the retrace to $190 area SOL has a second touch into the midrange of this channel - Sold long.
Waiting for a possible bearish scenario on BTC so neutral but an option for a Long re-entry on the break.
B, Hard Forky
take a look at the way SOL has moved this year. after each period of consolidation, price has rallied HARD (3x-4x).
if i were trading this breakout, i'd take profit in the $230-$250 range (in case we see a top where 2x buying pressure subsides), and let the rest ride.
of course i'm NOT actually trading this because i think there's a lot more room to run before...
SOL retesting previous ATH. Wanting to see a strong break (Bollinger band breakout or high volume candle closure on 8H time frame) and hold to confirm entry. Looking to momentum to be on our side as well, (Stoch above 50% level, no bearish divergence, bullish MA cross) and then we are good for entry. 1st take profit set at 1.0 fib level, looking to take profits...