SOLUSDT: Signaling Strong Bullish Trend, Upside Potential +40%?
Updated
Hi Realistic Traders, let's delve into the technical analysis of BINANCE: SOLUSDT
Embracing Dow Theory's core idea that "history repeats itself. In September 2023, we witnessed a breakout from a falling wedge pattern. Following that breakout, prices kept climbing in a bullish trend. Recently, we noticed a quick bounce at the 0.5 Fibonacci Ratio, coupled with breaking the upper trendline of the falling wedge. This move was confirmed by a bullish crossover on the stochastic—similar to what we've seen before. So, based on these signals, we're projecting a potential bullish run toward our target area.
It is essential to note that the analysis will no longer hold validity once the target/support area is reached.
Disclaimer:
"Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Solana."
Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below!
Embracing Dow Theory's core idea that "history repeats itself. In September 2023, we witnessed a breakout from a falling wedge pattern. Following that breakout, prices kept climbing in a bullish trend. Recently, we noticed a quick bounce at the 0.5 Fibonacci Ratio, coupled with breaking the upper trendline of the falling wedge. This move was confirmed by a bullish crossover on the stochastic—similar to what we've seen before. So, based on these signals, we're projecting a potential bullish run toward our target area.
It is essential to note that the analysis will no longer hold validity once the target/support area is reached.
Disclaimer:
"Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Solana."
Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below!
Trade active
We still have a positive outlook on SOLUSDT as long as the price stays above the EMA90 Line or our support area :)Note
SOLUSDT has already moved above the trendline, we expect it will continue its bullish trendNote
Retesting the trendline with the bullish doji candlestick, we still have the same bullish outlook on this oneNote
breakout base. signifying continuation of the trendNote
Reached Target 1, let's observe what will happen nextperhaps reach the second target?
Trade closed: target reached
hit the second target! :D
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