SOLANA USDT SOL About To Blast Off! Multiple Bullish Divergence!
Updated
SOL looks to have bottomed out here. There is bullish divergence on the daily with the MACD, RSI, VMACD, OBV, and CMF. Usually when all these show bullish divergence and multiple drives of it then there is a decent rally to follow. Right now Solana is bouncing off support and resistance levels within this accumulation zone as I show in the chart. Once SOL breaks $39 its game on and I can see a fairly rapid move up to $48 and then an even faster move from $48 to $75. Indicators are all looking bullish and the BBWP which measures volatility is at an extreme low ready to expand. There may be a quick swipe down to the bottom side of the accumulation zone around $30 before the lift off but its not likely. I think SOL has bottomed and is ready to soar. This is not financial or trading advice this is just my opinions and speculations. Follow and give me a boost if you appreciate my ideas. Leave a comment below and let me know what you think.
P.S. When I look at Solana on the log chart, it looks scary. It looks like LUNA did before it had its big dump. Im not sure how high this rally will go, Im just trading it and will probably make an exit around $70, but long term I think that Solana may correct much further. I don't see new all time highs even in the next bull run, maybe a double top though. Im not sure, I will link the logarithmic chart below so you guys can tell me what you think, but to me its a scary looking chart.
P.S. When I look at Solana on the log chart, it looks scary. It looks like LUNA did before it had its big dump. Im not sure how high this rally will go, Im just trading it and will probably make an exit around $70, but long term I think that Solana may correct much further. I don't see new all time highs even in the next bull run, maybe a double top though. Im not sure, I will link the logarithmic chart below so you guys can tell me what you think, but to me its a scary looking chart.
Note
THIS IS THE LOG CHART
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