SolanaShort
Solana (SOL) • Possible bounce here before more pain
Solana is still looking pretty nasty.
I don't like the volumes at the top and any bounce around the current range is ideal to look for short entry setups.
I do not think is yet any good idea to buy spot since no one else isn't either as per the lack of volumes.
My views would be invalidated is it sustains trading above 145 range.
Can it bounce here? yes? Can we long perpetual swaps and monitor close up to next resistance range yes but we need to be aware as the major trend is down any pump can easily be negated with a move bellow the entry point likewise it require more baby sitting. So we can see longs on intraday but stay away if the idea is swing.
Generally speaking I would stay away from this coins and only look for shorts on bounces into resistance ranges rather than trying to long the support in current market conditions.
Let me know in comments if I should make a small video about it as well.
I don't like the volumes at the top and any bounce around the current range is ideal to look for short entry setups.
I do not think is yet any good idea to buy spot since no one else isn't either as per the lack of volumes.
My views would be invalidated is it sustains trading above 145 range.
Can it bounce here? yes? Can we long perpetual swaps and monitor close up to next resistance range yes but we need to be aware as the major trend is down any pump can easily be negated with a move bellow the entry point likewise it require more baby sitting. So we can see longs on intraday but stay away if the idea is swing.
Generally speaking I would stay away from this coins and only look for shorts on bounces into resistance ranges rather than trying to long the support in current market conditions.
Let me know in comments if I should make a small video about it as well.
D7R
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