Solana Analysis [December 8, 2021]AB=CD pattern, Fibonacci retracement tool and trendlines were greatly implemented in analyzing this one (1) day candlestick timeframe (TF) chart.
Feel free to comment.
Kindly note this is not a financial advice. As we know, the cryptoverse is a highly volatile world. Do your due diligence.
Solanausdt
SOLUSDTHello Crypto Lovers,
Mars Signals team wishes you high profits.
We are in the 4-hour time frame. The price is at the S1 line which has supported the price several times. There is the R1 line too which has acted as a resistance several times. Our first target would be R1 and the second one is R2. Our Stop Loss is below the S1 line. There is also the S2 line which is the daily support line and if the price reaches there, it would be also a good place to buy.
Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.
Wish you luck
SOL 40$ by August 2022?I know, another bearish scenario.
Myself I find it very simillar when I look at both charts of SNX and SOL.
SNX was one to the DEFI top gainers back in the recent days, for L1 it has been Solana.
Whatever goes up, must come down too.
After impresive run Solana is taking a retracement similar to what SNX did during last year's spring-summer season.
I am expecting similar scenario for Solana in the following months, where the bottom will be hit around august 2022.
I know - impossible right? You all are waiting on that 500$, 1000$ SOL that CT is promising to you - goodluck with that.
Short term, we might get some bounce, up to even 230$ area, this is my ultimate short spot, but I will be taking my chances on lower levels too.
Cheers!
Solana is correcting a larger move Larger picture first. As you can see its a logarithmic chart but fibbs are on a regular scale. Because that's how its supposed to be what I have learnt and most notable CMT traders and even RN Elliot himself pointed that very clearly.
So we have completed primary wave 1 and now primary 2 which is a corrective wave is in progress. For primary 2 a typical .618 retracement is best to go with but in crypto we see deeper retracements 80-90 % because it's a very new asset class and is in the early stages of price discovery. This primary wave 1 was 82 weeks long. Its very likely that wave 2 will at least be around 25 weeks longs or ⅓ of time taken in primary wave 1 as usually seen. But it could even last longer than wave 1 in time, the only rule is that it should not make a lower low. As of now we are in the 7th week of wave 2 formation which is a very early stage.
So now i have to give evidence for what I claim. As you can see on RSI there are 3 secular tops. Wave 2 RSI lowest reading as usual. With Highest reading in wave 3 as usual. Divergence in 5 as usual and MACD bearish crossover. Wave 1 are related to wave 5. In this case of Solana timewise wave 1 and 5 were both 133 days. In term of price intermediate 1 was 4.48 and intermediate 5 was 247.49. Divide those numbers means wave 5 was 56x of wave 1. Number 56 is is next to 55 and 55 is a 10th fibonacci number. Check the Pic below-
Subwave counts on Log scale Below -
Focus on recent Corrective Price Action
Alternate count
Thanks for reading.
What are your thoughts ?
Happy holiday seasons.
SOLANA show us up movement to next target-downtrendHey trades today I want to talk about solana
It seems that the market is in a downtrend due to the decline of the father of digital currencies, Bitcoin
Through my analysis, I see that the price will make a small correction and then continue to descend towards the next target
This is an article, not financial advice, always do your own research.
If you have any questions, you can write it in comments below, and I will answer them.
And please don't forget to support this idea with your like and comment, thank you
SOLANA the last dance- this could be the last run for SOL in this bullmarket, i always liked to stay preservative in my predictions, but SOL was something...
- if you stayed with me from the start when Solana was a few bucks, you already made a bunch of money, so don't be greedy and trade wisely.
- now Solana went down and retraced for a long period of time, because after touching the moon, it takes long time to come back.
- i will link in comments my SOL most interesting older analysis, i recommend to check them all to understand older moves.
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Trading Plan
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Buy zone 1 : 170-160$
Buy zone 2 : 159-145$
TP1 : 295-325$ ( Security TP )
TP2 : 450-500$
SL : under 120$
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Stay Safe and always follow TheKing for safety!
Happy Tr4Ding !
SOL, are there any good buying opportunities? SOL has been in a downtrend for a long time. The price has already broken this trend line several times, but all have ended in traps.
There are two possible scenarios for buying:
-first scenario, a breakdown of the trend line.
-second scenario, a false breakout of the 116$ level
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.
SOL, mid of the range is broken, follow these scenarios!In the last idea, we marked the mid-range level.
Which acted as support. We said that in case the middle of the range was broken down, there would be a continuation of the fall.
Which it did.
Now we can mark the trend line and lower limit of the trading range.
- In the case of breakout the trend line, there may be a good buying opportunity.
- In case of a false breakout of the level of 220$, there could also be a good buying opportunity.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.
Sols getting ready for lift offWhat I'm guessing is going to happen in the next few days is sol consolidates a little harder, POSSIBLY even seeing a small dip under support lines and then hopefully with overall market redemption we see some good gains at least a 10% move. Or we will see new support around 116.2