✴️ Solana Breaks Down, Multiple Bearish Signals + Targets
Updated
Good day my fellow Cryptocurrency trader, I hope you are having a wonderful time.
We are grateful for this market, the Cryptocurrency market because it gave us so much time, it gave us lots of time and plenty of warning, a large amount of signals reminding us that a correction is about to take place... Believe it or not, it is still early because it will go deep, deep down in this down-wave.
The first signal is the classic bearish divergence on the RSI.
Then we see Solana's price moving higher as the trading volume starts to decrease.
Then we have a short-term lower high followed by a daily break below EMA10, while EMA21 is being tested as support today, this after a major price peak.
These are all bearish signals and they are just starting to pile up.
If for some reason, if for you Solana still looks strong and with chance of recovering... No, no, no, this is not a hoping game.
Look at other major Altcoins such as Chainlink, PolkaDot and Dogecoin, you will realize that the correction is already taking place. The same is true for Bitcoin by the way.
When EMA21 breaks as support, should happen fast, we will see the speed increase as prices move down.
Ok... Invalidation can happen if SOLUSDT moves and closes daily above EMA10 ($103).
This can be a stop-loss if you are on a short trade. We always use manual stop-loss for obvious reasons.
Thank you for reading.
You are appreciated.
Live goes on.
Namaste.
We are grateful for this market, the Cryptocurrency market because it gave us so much time, it gave us lots of time and plenty of warning, a large amount of signals reminding us that a correction is about to take place... Believe it or not, it is still early because it will go deep, deep down in this down-wave.
The first signal is the classic bearish divergence on the RSI.
Then we see Solana's price moving higher as the trading volume starts to decrease.
Then we have a short-term lower high followed by a daily break below EMA10, while EMA21 is being tested as support today, this after a major price peak.
These are all bearish signals and they are just starting to pile up.
If for some reason, if for you Solana still looks strong and with chance of recovering... No, no, no, this is not a hoping game.
Look at other major Altcoins such as Chainlink, PolkaDot and Dogecoin, you will realize that the correction is already taking place. The same is true for Bitcoin by the way.
When EMA21 breaks as support, should happen fast, we will see the speed increase as prices move down.
Ok... Invalidation can happen if SOLUSDT moves and closes daily above EMA10 ($103).
This can be a stop-loss if you are on a short trade. We always use manual stop-loss for obvious reasons.
Thank you for reading.
You are appreciated.
Live goes on.
Namaste.
Note
This chart setup is extremely favorable for the bears: Lower high after lower high, rejection at EMA50 and break below EMA100 and the RSI has gone bearish. This is the 4H timeframe... I am thinking of a short here that can move fast...
Note
Solana is now moving below EMA21 on the daily timeframe, this is the first time this happens since early September 2023.A group of people can hold say the price of Bitcoin and maybe even Ethereum artificially for a while, they can make/help the chart look good while they make preparations (move money) for their plan... But you cannot hold all the Altcoins. That's why you can see in some charts what cannot be seen in orders.
While Bitcoin is still above some major levels and looks "strong", many of the smaller Altcoins (compared to Bitcoin) such as Solana, Chainlink and PolkaDot are already trading below support.
They all move together, we know this for sure... There isn't a scenario when Bitcoin goes to new All-Time Highs and the rest crashes to new lows. Bitcoin grows, they grow. They grow, Bitcoin grows.
They crash, Bitcoin crashes... That's how it goes and that's how it has been working from the start.
Solana is set to continue lower... (Confirmation is needed on the daily timeframe for this signal).
Namaste.
Note
Solana peaked at 126 on the 25th of December, so far we have no new highs and a new lower high confirmed.Trading volume continues to decrease, RSI continues to move lower...
Moving daily back below EMA10 and soon EMA21.
Notice the black trendline, I did not touch it and a rejection happened perfectly at this level.
It will be a strong correction.
This information is shared as a friendly reminder.
There will be an opportunity to buy back lower once the correction ends.
All my updates are intended to share my views and opinions of the market and pairs and not intended to manipulate the system as the system here only allows for "publish" followed by "update idea".
Just sharing information with my readers... If they don't like it, they can ignore.
If they like it, they boost, comment and follow.
If a post is not boosted, read and commented upon, it goes to the bottom of the feed... Even if I publish 1,000 updates, if the people do not read, boost, comment and follow, the post goes to the bottom of the feed.
The only reason the post remains on top is because people are enjoying the content and interacting.
It is not manipulation of the TradingView system because I share information concerning the entire market.
All the data is true, real and valid and relates to the pair at hand, to crypto and the broader market.
I cannot manipulate the system just because I publish an update... Come on. We are just sharing information, exchanging, some people agree others disagree... I thought we were having fun.
Namaste.
Note
A new lower high in the making... This is a great entry for a new SHORT (experts only).This time the trendline is not touched... The 4H candle is yet to close, the daily as well... Confirmation is needed but these are early signals supporting the newly developing trend.
I hope you find this a timeline update.
Note
Consider Solana by looking at Bitcoin... We are in the distribution phase.Bitcoin moved to test EMA50 as support, it bounced and ranged for a while above this level just to fall below and start its bearish move. This pattern can repeat for Solana.
Solana moved today to test EMA50 as support. A bounce is taking place and there can be some ranging but, once this level is tested coming from a new high, it precedes a bearish wave.
This is just some additional information in support of what we already know;
The bullish wave is over, the bearish wave is on.
Namaste.
Note
This is only the beginning... Solana just moved recently below EMA50 and weekly still trades above EMA10, which means that the correction is on its early stage.Patience is key.
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