Solana 2/17 (scalping + forecast)
🔥 Market Overview:
Trend: Solana is in a downtrend on the 2H and 1D timeframes, struggling against the 200 EMA, while the weekly chart maintains long-term bullish structure.
Key Levels: SOL is trading within $176 – $190, facing strong resistance at $190+.
Resistance:
🩸 Major Resistance: $190 – $193 (key rejection zone, breakout needed for bullish continuation).
🩸 Local Resistance: $185 (sellers active, needs confirmation for reversal).
Support:
🩸 Major Support: $176 – $180 (break below opens the door to $165).
🩸 Local Support: $180 (short-term buyers attempting a defense).
Indicators:
MACD (2H, 1D): Bearish momentum, weak crossover—no strong buy signals yet.
RSI (2H, 1D): 28-35, oversold but no confirmed reversal yet.
EMA 200 (2H, 1D): Acting as resistance—SOL remains below key trend levels.
🔥 Scalping Strategy:
🩸 1. Range Scalping (Short-Term Trading in the Range)
Buy: $176 – $180, targeting $185 – $190.
Sell: $190 – $193, targeting $180.
Stop-loss: Below $175 (for long), above $195 (for short).
🩸 2. Breakout Scalping (Momentum Play)
Long Entry: Above $193, targeting $200 – $205.
Short Entry: Below $176, targeting $165 – $160.
🩸 3. EMA Scalping
If SOL rejects EMA 200, short with a target at $180.
If SOL flips EMA 200 into support, long with a target at $193+.
🔥 Mid-Term Trend Forecast (1-3 Weeks):
Bullish Scenario: SOL breaks and holds above $193, leading to a push towards $205+.
Bearish Scenario: SOL fails to hold $176, leading to a retest of $165 – $160.
🔥 News & Market Context:
Solana ecosystem updates: Monitor network developments and DeFi activity.
Institutional Flow: No strong buying signals—watch for increased volume.
Crypto Market Sentiment: If Bitcoin remains weak, SOL may follow its downtrend.
🔥 Decision:
🩸 Short-term: Scalping the $176 – $193 range, waiting for confirmation.
🩸 Mid-term: Breakout play above $193 or short below $176.
🩸 Ideal Play: Monitoring RSI & MACD for confirmation of a reversal.
👑 Final Verdict:
Solana is in a corrective phase, with **$193 as the key breakout level$193 as the key breakout level. Scalp within the range, but a breakout or breakdown will set the next major move.
🔥 FinCaesar's Quote:
"Strength comes from knowing when to strike—wait for the setup, then execute with precision." 👑
Trend: Solana is in a downtrend on the 2H and 1D timeframes, struggling against the 200 EMA, while the weekly chart maintains long-term bullish structure.
Key Levels: SOL is trading within $176 – $190, facing strong resistance at $190+.
Resistance:
🩸 Major Resistance: $190 – $193 (key rejection zone, breakout needed for bullish continuation).
🩸 Local Resistance: $185 (sellers active, needs confirmation for reversal).
Support:
🩸 Major Support: $176 – $180 (break below opens the door to $165).
🩸 Local Support: $180 (short-term buyers attempting a defense).
Indicators:
MACD (2H, 1D): Bearish momentum, weak crossover—no strong buy signals yet.
RSI (2H, 1D): 28-35, oversold but no confirmed reversal yet.
EMA 200 (2H, 1D): Acting as resistance—SOL remains below key trend levels.
🔥 Scalping Strategy:
🩸 1. Range Scalping (Short-Term Trading in the Range)
Buy: $176 – $180, targeting $185 – $190.
Sell: $190 – $193, targeting $180.
Stop-loss: Below $175 (for long), above $195 (for short).
🩸 2. Breakout Scalping (Momentum Play)
Long Entry: Above $193, targeting $200 – $205.
Short Entry: Below $176, targeting $165 – $160.
🩸 3. EMA Scalping
If SOL rejects EMA 200, short with a target at $180.
If SOL flips EMA 200 into support, long with a target at $193+.
🔥 Mid-Term Trend Forecast (1-3 Weeks):
Bullish Scenario: SOL breaks and holds above $193, leading to a push towards $205+.
Bearish Scenario: SOL fails to hold $176, leading to a retest of $165 – $160.
🔥 News & Market Context:
Solana ecosystem updates: Monitor network developments and DeFi activity.
Institutional Flow: No strong buying signals—watch for increased volume.
Crypto Market Sentiment: If Bitcoin remains weak, SOL may follow its downtrend.
🔥 Decision:
🩸 Short-term: Scalping the $176 – $193 range, waiting for confirmation.
🩸 Mid-term: Breakout play above $193 or short below $176.
🩸 Ideal Play: Monitoring RSI & MACD for confirmation of a reversal.
👑 Final Verdict:
Solana is in a corrective phase, with **$193 as the key breakout level$193 as the key breakout level. Scalp within the range, but a breakout or breakdown will set the next major move.
🔥 FinCaesar's Quote:
"Strength comes from knowing when to strike—wait for the setup, then execute with precision." 👑
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.