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Solanasignals

SOLUSDT Sideways at best, bearish if this level breaks.*** *** For this particular analysis on SOLANA we are using the SOLUSDT symbol on the Phemex exchange. *** *** The idea is on the 1D time-frame where the 1D RSI broke into the heavy oversold zone, which last revisited back in late January 2022. The price then entered a long-term consolidation, trading sideways until the 1D MA50 (blue trend-line) broke but still got rejected on the 1D MA200 (orange trend-line). It was that rejection that brought us to where we are today. It is therefore possible to see a similar monthly sideways trade. However, if yesterday's low breaks, the long-term Channel Up that has been in effect since Solana's All Time High, will break and should push the price towards the lower Fibonacci extensions. In that case, the targets will be the 2.0 Fibonacci extension around 24.720 and the 2.236 extension around 18.725. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
by TradingShot
5
SOLUSD a break above the 1D MA50 can target $1400.Solana has been too quite in 2022, contrary to its impressive 2nd half of 2021. The chart is pretty much self-explanatory so I will not go into much detail. As you see, the price has been trading below the 1D MA50 (blue trend-line) since December 04 2021. Today SOL is testing this MA. A break above would be a strong break-out buy signal as this is consistent to both previous phases which formed the same pattern. In both phases SOLUSD started correcting the rally that led to Fibonacci peaks with Channel Down patterns. Those Channels formed clear Double Bottoms (or near) after a first 1D MA50 break (which was a fake break-out). After the bottom, a 2nd break above the 1D MA50 initiated a hyper strong rally. The last two peaks came on Fib 2.5 and Fib 3.5 extensions. It is possible that if the price breaks the 1D MA50 again now to see a rally of similar aggression towards the 4.5 Fibonacci extension around $1400. Note that from an LMACD perspective, the current phase is more similar to that of late 2021. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
BINANCE:SOLUSDLong
by TradingShot
13
SOLUSD is repeating a pre-rally pattern. $1000 real possibility.I haven't updated SOLUSD since July and the upper break-out which gave me a $130 target: Well the target got quickly hit according to the Fibonacci levels provided with Solana trading within a Channel Down (blue pattern) ever since its November All Time High (ATH) and since December 04 has been trading entirely below its 1D MA50 (blue trend-line). This is not a unfamiliar set-up for SOL as the very same pattern has took place before every major rally. As this 1D chart shows, SOLUSD's usual growth sequence involves a Channel Up (green pattern), which leads to its blow-off top followed by the Channel Down that eventually breaks below the 1D MA50. When then breaks above the 1D MA50 for the first time, it is a signal that the next low is SOL's bottom. Right now the price has already made its 1st break above the 1D MA50 and also printed a Lower Low. Based on the pattern above, a second break above the 1D MA50 should kickstart the new rally, the target of which could be the 4.5 Fibonacci extension. Notice also how even the RSI and the LMACD are on their respective 12-month Support Zones. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
BINANCE:SOLUSDLong
by TradingShot
9