SOL/USDT long
Fundamental Analysis:
With all the recent Elon and general meme coin fuckery, its time to look for strong narratives for all the frothy profits to move into. Two great narratives this bull market have been "Eth killers" (lol) and DeFi protocols. Out of the Eth competitors (DOT, MATIC, BNB, AVAX etc) Solana seems to have one of the strongest budding DeFi communities currently so fundamentally is a great choice for the short term as it combines (imo) two of the strongest crypto narratives going into the summer.
Technical Analysis:
The recent Eth bleed has brought 99% of altcoins down with it, to identify the next top performers we need to search for discrepancies. Sol looks fantastic bouncing perfectly off the 38.9 support from 22/4 and the EMA 200 while currently testing the 0.382 Fib. A great entry would be between 39-41, the shorter term your trade the closer you should try to enter to 39.
This move has the potential to chad directly into the grey resistance rectangle giving us a great R of 2.5+.
Praise the Solana overlords
Low leverage ape good, high leverage ape dead.
With all the recent Elon and general meme coin fuckery, its time to look for strong narratives for all the frothy profits to move into. Two great narratives this bull market have been "Eth killers" (lol) and DeFi protocols. Out of the Eth competitors (DOT, MATIC, BNB, AVAX etc) Solana seems to have one of the strongest budding DeFi communities currently so fundamentally is a great choice for the short term as it combines (imo) two of the strongest crypto narratives going into the summer.
Technical Analysis:
The recent Eth bleed has brought 99% of altcoins down with it, to identify the next top performers we need to search for discrepancies. Sol looks fantastic bouncing perfectly off the 38.9 support from 22/4 and the EMA 200 while currently testing the 0.382 Fib. A great entry would be between 39-41, the shorter term your trade the closer you should try to enter to 39.
This move has the potential to chad directly into the grey resistance rectangle giving us a great R of 2.5+.
Praise the Solana overlords
Low leverage ape good, high leverage ape dead.
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