Smart money is selling Solana!
We’re seeing quite a bit of confluence confirming more bearish correction to come in the near future. Solana is currently in a bearish correction structure within an overall higher TF bullish structure. Despite buyers continuing to enter the market, we can see that current market structure indicates more downside based on smart money concepts:
1) we have confirmed a break of structure followed by swing points indicating new LH and new LL
2) price is being drawn to FVG (highlighted box) before the next move down
3) the FVG indicated here falls within our Fibonacci killzone
4) if price makes this push up to the FVG it also completes a harmonics pattern
5) target is a major point of interest for market makers to gather liquidity before continuing to the upside
1) we have confirmed a break of structure followed by swing points indicating new LH and new LL
2) price is being drawn to FVG (highlighted box) before the next move down
3) the FVG indicated here falls within our Fibonacci killzone
4) if price makes this push up to the FVG it also completes a harmonics pattern
5) target is a major point of interest for market makers to gather liquidity before continuing to the upside
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.