Solana Bullish Elliot Wave - 150% gains to 100 USD? 🚀🚀
SOL pumped 48% and 19% (green price ranges) after the bullish Supertrend Ninja - Clean signals (green vertical line on the background). It also went down 75% (purple price range) after a bearish Supertrend Ninja - Clean signal (red vertical line on the background).
In a possible bullish scenario SOL might possibly rise up to 100 USD completing leg A of the Elliot Wave (blue dotted lines). Which is about 150% (orange price range) possible gain.
SOL is still below the the Ichimoku Cloud, which is considered bearish. Currently it is trying to break a resistance area ( support and resistance area's are highlighted in grey blocks). The RSI is still in a range/ slightly bullish at 48. RSI Brown at 62. If we take a look at the Average Directional Index ( ADX DI) its indecisive, as it is ranging. Almost horizontal. Currently SOL is above its Basis Bollinger Band, Band Basis 20 Period SMA . While it is below the LSMA .
In short, SOL is still stuck in a range on the 2Day chart. Although I am leaning towards a bullish scenario. Since SOL price and the RSI are still forming a higher low. I do see an Ascending Triangle. Which is a bullish sign.
Remember to always take profits and use proper risk management!
Thank you for reading.
Namasté 🙏
Disclaimer: Ideas are for entertainment purposes only. Not financial advice. Your own due diligence is highly advised before entering trades. Past performance is no guarantee of future returns.
What Indicators Do I Like To Use:
I am using the "Supertrend Ninja - Clean", which is a trend-following indicator (Green and red vertical lines on the background). When the background of the candlestick closes green (vertical line). It indicates a possible bullish (up)trend. And red for possible downtrends.
In a possible bullish scenario SOL might possibly rise up to 100 USD completing leg A of the Elliot Wave (blue dotted lines). Which is about 150% (orange price range) possible gain.
SOL is still below the the Ichimoku Cloud, which is considered bearish. Currently it is trying to break a resistance area ( support and resistance area's are highlighted in grey blocks). The RSI is still in a range/ slightly bullish at 48. RSI Brown at 62. If we take a look at the Average Directional Index ( ADX DI) its indecisive, as it is ranging. Almost horizontal. Currently SOL is above its Basis Bollinger Band, Band Basis 20 Period SMA . While it is below the LSMA .
In short, SOL is still stuck in a range on the 2Day chart. Although I am leaning towards a bullish scenario. Since SOL price and the RSI are still forming a higher low. I do see an Ascending Triangle. Which is a bullish sign.
Remember to always take profits and use proper risk management!
Thank you for reading.
Namasté 🙏
Disclaimer: Ideas are for entertainment purposes only. Not financial advice. Your own due diligence is highly advised before entering trades. Past performance is no guarantee of future returns.
What Indicators Do I Like To Use:
I am using the "Supertrend Ninja - Clean", which is a trend-following indicator (Green and red vertical lines on the background). When the background of the candlestick closes green (vertical line). It indicates a possible bullish (up)trend. And red for possible downtrends.
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Disclaimer
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