Greetings fellow traders. In this analysis, we take a look at a possible Solana (
SOL) Buy Swing position. The Risk-to-Reward on this trade is a "No-Brainer" hence the reason I am sharing this trade setup.
My confluences for the Buy trade setup:
- Solana is well known as for its NFT ecosystem. WithSOL being the underlying currency for this ecosystem, it makes SOL fundamentally strong for the long term.
- Now lets look at the technical analysis,
* There is a Fair Value Gap around $29.50.
* There is also a Bullish OB just below the FVG.
* There are notable equal highs/ Sell Side Liquidity around $34.50 that has to be raided.
* I will be targeting the Fair Value Gap by $42.50 as my intermediate target price. My Long term target price is $60.
- Looking at seasonal tendencies, Q4 is usually good for the Crypto market therefore there is a higher possibility of the market being Bullish than Bearish.
My Entry price is sub-$30 (preferably, $29.50). Use proper risk management.
With this said, Happy Trading Pals
SOL) Buy Swing position. The Risk-to-Reward on this trade is a "No-Brainer" hence the reason I am sharing this trade setup.My confluences for the Buy trade setup:
- Solana is well known as for its NFT ecosystem. With
SOL being the underlying currency for this ecosystem, it makes SOL fundamentally strong for the long term.- Now lets look at the technical analysis,
* There is a Fair Value Gap around $29.50.
* There is also a Bullish OB just below the FVG.
* There are notable equal highs/ Sell Side Liquidity around $34.50 that has to be raided.
* I will be targeting the Fair Value Gap by $42.50 as my intermediate target price. My Long term target price is $60.
- Looking at seasonal tendencies, Q4 is usually good for the Crypto market therefore there is a higher possibility of the market being Bullish than Bearish.
My Entry price is sub-$30 (preferably, $29.50). Use proper risk management.
With this said, Happy Trading Pals
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.