SOLANA: Cooling off for the next leg up
Updated
SOLANA has been on quite a run lately.
While BTC was making a multi-month low, Solana was pumping towards $50. The hourly channel suggests more downside is in store as this coin cools off from its counter-cyclical bull run. Of course, we could pump straight from here, but I want an optimal setup and that would mean buying in around $41.70 for the next leg up. I'm a believer enough in the trend to set and forget a limit order.
If we don't get there, no big deal. There will be plenty of other opportunities to trade this asset.
While BTC was making a multi-month low, Solana was pumping towards $50. The hourly channel suggests more downside is in store as this coin cools off from its counter-cyclical bull run. Of course, we could pump straight from here, but I want an optimal setup and that would mean buying in around $41.70 for the next leg up. I'm a believer enough in the trend to set and forget a limit order.
If we don't get there, no big deal. There will be plenty of other opportunities to trade this asset.
Trade active
Active from the touch of the lower level (42.80)Trade closed manually
when it could not hold the 46 level
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