Solana - Per aspera ad astra!
Updated
"Per aspera ad astra is a popular Latin phrase that means "through hardships to the stars."
Today I want to share a very interesting analysis with everyone on here and I have this feeling, that this will get very controversial….
This coin got seriously beaten up since it’s last all-time high at 267$, nearly unbelievable that Solana was trading around this price a little more than a year ago. I still remember the massive hype which occurred on here and several other platforms like reddit or youtube, back when Solana skyrocketed from just 1$ to 100$, 200$ and finally 267$!
It’s safe to say that Solana is one of the biggest losers of 2022, and it’s very interesting to see that the vast majority of investors have ditched this coin.
Well today I want to talk about the future of Solana and why a possible price-target of +450$ is NO JOKE! I know that many investors here have lost a lot of money with this coin, but please, let’s behave civil in the comments… okay?
From a technical perspective, Solana heavily reminds me of Ethereum back in 2017-2018. The chart looks very similar, and Solana established a very promising 5-wave structure in its last bull run. From my experience I know that, the better and sustainable such movements were, the bigger was the chance that such coins survived. Solana is a very risky investment, even after the massive rallye of the past weeks. However the biggest risks also carry the biggest opportunities, don't forget that!
There’s a saying, a picture says more than a thousand words. This image is not my own work, however I couldn’t manage to find the author of this anymore!
Of course, past performance and such comparisons are not a 100% for future success, but I was astonished how similar both coins established their movements.
In the past weeks, Solana surprised everyone and managed to gain more than +210% in a matter of weeks. Many of you might be interested in a more short-term count, so we decided to share our count with everyone on here. I expect that the whole rally represents a wave (1) and in the next weeks Solana should correct lower in order to establish a proper wave (2).
We are going to further build up long positions here as soon as the price reaches our highlighted buy zone. (16.75$ - 11.50$) If Solana manages to move beyond the key level of 48.34$, a price target of at least +441$ at the 1.618 extension is quite possible.
Nevertheless, it is important to point out that Solana needs to break the key level at 48.34$ in order to officially declare the bear market as finished.
Please notice that we are already invested in Solana since the 20h of June, back then we announced our first positions here on tradingview.
If you should have any questions whatsoever, you can write a comment or contact me directly!
Long Solana (SOLUSD)
AVERAGE EXECUTION PRICE: 29.80$
STOP-LOSS: NONE
LONGERM Target: +445$
Today I want to share a very interesting analysis with everyone on here and I have this feeling, that this will get very controversial….
This coin got seriously beaten up since it’s last all-time high at 267$, nearly unbelievable that Solana was trading around this price a little more than a year ago. I still remember the massive hype which occurred on here and several other platforms like reddit or youtube, back when Solana skyrocketed from just 1$ to 100$, 200$ and finally 267$!
It’s safe to say that Solana is one of the biggest losers of 2022, and it’s very interesting to see that the vast majority of investors have ditched this coin.
Well today I want to talk about the future of Solana and why a possible price-target of +450$ is NO JOKE! I know that many investors here have lost a lot of money with this coin, but please, let’s behave civil in the comments… okay?
From a technical perspective, Solana heavily reminds me of Ethereum back in 2017-2018. The chart looks very similar, and Solana established a very promising 5-wave structure in its last bull run. From my experience I know that, the better and sustainable such movements were, the bigger was the chance that such coins survived. Solana is a very risky investment, even after the massive rallye of the past weeks. However the biggest risks also carry the biggest opportunities, don't forget that!
There’s a saying, a picture says more than a thousand words. This image is not my own work, however I couldn’t manage to find the author of this anymore!
Of course, past performance and such comparisons are not a 100% for future success, but I was astonished how similar both coins established their movements.
In the past weeks, Solana surprised everyone and managed to gain more than +210% in a matter of weeks. Many of you might be interested in a more short-term count, so we decided to share our count with everyone on here. I expect that the whole rally represents a wave (1) and in the next weeks Solana should correct lower in order to establish a proper wave (2).
We are going to further build up long positions here as soon as the price reaches our highlighted buy zone. (16.75$ - 11.50$) If Solana manages to move beyond the key level of 48.34$, a price target of at least +441$ at the 1.618 extension is quite possible.
Nevertheless, it is important to point out that Solana needs to break the key level at 48.34$ in order to officially declare the bear market as finished.
Please notice that we are already invested in Solana since the 20h of June, back then we announced our first positions here on tradingview.
If you should have any questions whatsoever, you can write a comment or contact me directly!
Long Solana (SOLUSD)
AVERAGE EXECUTION PRICE: 29.80$
STOP-LOSS: NONE
LONGERM Target: +445$
Note
Check out our latest analysis on Solana featuring a detailed count for short-term investors.The next weeks will be very interesting and offer another opportunity to accumulate for the next bull run.
Note
Dear investors…The crypto markets are a dangerous place, and I often like to compare it to the fictional realm of the “warp” of my favorite fantasy genre. Hard to predict, uncaring of one’s fate, and terribly dangerous to those who can’t navigate them.
But why am I telling you this?
For almost over a year now, my colleagues and I are publishing articles on here and did our best to share valuable insights about the upcoming cycle bottom, which we mentioned more than I can remember.
We published our own trading decisions on here and shared all our long positions in Bitcoin, Ethereum, Chainlink, Solana, VeChain, Polkadot and Fantom. Since January, another cycle already began, and I am thrilled to see how it will develop over the next two years.
Additionally, to my great amusement, Solana and my article last January proved many traders wrong. We are still trading above 0$ and as of now it looks like Solana has a bright future to look upon. At last, I believe that this year and the following will be very prosperous, and I am happy to continue my work on here.
If you should have questions or are uncertain about the next cycle, feel free to reach out - I am happy to help!
Wish you all the best, greetings from switzerland
Benjamin Mendenmein
Note
Dear subscribersWe are adding another position in Solana to our altcoin portfolio, despite the ongoing struggle in the altcoin sector we are confident that a major trend shift will occur this summer and fall.
We are going long with the following parameters, a more detailed update will follow!
Long #3 Solana (SOLUSD)
AVERAGE EXECUTION PRICE: 15.03$
STOP-LOSS: NONE | Traders can put their stop-loss slightly below 7.92$
LONGTERM TARET: +250$
If you should have any questions regarding our analysis or elliot wave counts feel free to contact us.
Disclaimer
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