SOL - the next leg into 2021 year end
Updated
My thesis:
fundamentally, ETH has lagged the BTC run (incidentally as SOL had for a few weeks). The cost and lag of transacting on the Ethereum blockchain may be driving institutional interest on the SOL platform. Much will depend on the business' ability to execute and continue driving defi, NFT, and other web3 development interests. For the time being, and certainly into the year end and early part of 2022, SOL should continue to see demand and capital flows into its ecosystem.
Looking at the recent run, from which I have benefitted from the break out the $70 - $100 range to the $150 to $215 range and consolidate back to a low of $115 - $125, I propose the following model targeting a new cycle high in the ~$350 - +$400 range. We should see a little consolidation through the weekend and into early next week before flows and price discovery take SOL above $216 for a measured run to my targets. I'll keep capital on the side for sharp corrections between $150 and $185 to add to my position.
Extending beyond should be validated by fundamental gains in the technology's adoption and further developments (regulatory and such) in the crypto markets.
Just my view, my strategy, and not investment advice. Appreciate comments, ideas, in favor or against this plan.
fundamentally, ETH has lagged the BTC run (incidentally as SOL had for a few weeks). The cost and lag of transacting on the Ethereum blockchain may be driving institutional interest on the SOL platform. Much will depend on the business' ability to execute and continue driving defi, NFT, and other web3 development interests. For the time being, and certainly into the year end and early part of 2022, SOL should continue to see demand and capital flows into its ecosystem.
Looking at the recent run, from which I have benefitted from the break out the $70 - $100 range to the $150 to $215 range and consolidate back to a low of $115 - $125, I propose the following model targeting a new cycle high in the ~$350 - +$400 range. We should see a little consolidation through the weekend and into early next week before flows and price discovery take SOL above $216 for a measured run to my targets. I'll keep capital on the side for sharp corrections between $150 and $185 to add to my position.
Extending beyond should be validated by fundamental gains in the technology's adoption and further developments (regulatory and such) in the crypto markets.
Just my view, my strategy, and not investment advice. Appreciate comments, ideas, in favor or against this plan.
Trade active
Position still active, but watching closely as momentum appears to be weakening.Trade active
Holding strong. CCI and price action on point with the second level push above 80/SOL. BTC and ETH are also at or near highs. This is make or break time at these new levels.Trade active
Added @ $210 & $200 during the dip this past weekTrade active
Added @ $190 during the dip this past weekend (Nov 27)Trade active
Again, at $172 & $155, orders in at $142 and $118
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