Solana heavy Dump is comingIn the previous analysis, I explained that Solana fake broke out. Except very strong resistance ahead, negative divergence in rsi. We have very negative news for the new strain of covid in America and India, and the outbreak of a strange respiratory disease in Turkey, the biggest lesson I learned from 4 years ago is: get out of the market or take a short position. Very important point: Market Maker never buys $44 or $46,000 Bitcoin or $80 Solana, the purchase amount must be justified. We have pre-bought bitcoin eft on the chart.. Don't pay attention to the predictions of $150,000 and $1 million bitcoin, this is the work of the market maker, we will witness a severe market dump.
Be careful
Solusdtshort
SOL → Which Way Solana? Let's Answer That Question With a Chart.Solana is at a crucial decision point; fail to break resistance or rocket to the next level? Right now it's failing to get back into the bull channel, but hasn't yet broken to the downside.
How do we trade this?
If you're not already in a trade, wait to enter one! For a long, we need a test of Support at the 30EMA, or a break of the Previous Resistance line followed by a support test and confirmation. To short, we need a failed breakout attempt of Previous Resistance and preferably, a confirmation bear candle closing on or near its low below the 30EMA.
Until then, let's see where the price action goes. FOMO (Fear of Missing Out) is your worst enemy. You're making more money by not falling for the seduction of market profit.
Trade Idea
Short Entry : $48.00
Stop Loss: $54.15
Take Profit: $35.70
Risk/Reward Ratio: 1:2
Long Entry : $73.00
Stop Loss: $107.00
Take Profit: $61.65
Risk/Reward Ratio: 1:3
Key Takeaways
1. Bull Channel, Bias to Long.
2. Bear Breakout, Watch for Sell Signal.
3. Still Above 30EMA, Watch for Support.
4. Do not Long until we break Previous Resistance.
5. RSI at 61.00, below Moving Average. Supports Short.
You are solely responsible for your trades, trade at your own risk!
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SOLUSDTA bearish head and shoulders pattern appears to be forming on Sol. Upon the breakout below the neckline of the pattern, the anticipated target is $45✅. The current indications suggest that the price is on the verge of breaking the neckline. It's advisable to closely monitor Sol for further developments.
Solana and a few steps down...It seems that Solana has decided to go up with the "head and shoulders pattern" and comes down with the same pattern.
A head and shoulders pattern is forming. If this pattern is formed and confirmed, the price will drop to around $52.50. Unless something extraordinary happens.
Of course, these few steps down are very necessary and good in my opinion. Moving with this momentum is very dangerous.
Anyway, I like Solana's moves. It moves very wildly.
*** In my opinion, after this "head and shoulders", we will probably have another "head and shoulders" on a larger scale...
SOL target 2312h time frame
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SOL creating a rising channel or could be called as bearish flag, it just hit the channel top and got rejection. Also, there were two times SOL hit the upper uptrend line, and both got further dump. Both dumps satisfied 0.707~0.786 Fibonacci Retracement, so we can set target at the potential Fibonacci level around 20.5~23, this trading provides great risk to reward ratio(over 5)
TP: 20.5~23
SL: 40
📈Solana analysis, Weekly insight into price behavior📉BINANCE:SOLUSDT
COINBASE:SOLUSD
Hello Traders, please check out my previous ideas.
In the next few days, Solana is expected to stabilize between near the red area.
If the price breaks below the mentioned area, the price will drop to the level of 14$ (probably price receive support here) and then 13-12 area.
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Solana Looking for Rise in its Price! {22/10/2023}Educational Analysis says SOLUSDT may go Long according to my technical.
This is not an entry signal. I have no concerns with your profit and loss from this analysis.
Why Long?
Broker Binance
Although the SOLUSDT Market is in a downward trend on a daily time frame, On 4 hours it is making higher lows and higher highs.
So one trade is already on with RR is 1:4.85
Disclaimer
I HAVE NO CONCERNS WITH YOUR PROFIT OR LOSS.
Happy Trading, Fxdollars.
is Solana gonna dip more?There are few signs telling me to go down to 4.
1. Can't make higher high
2. Triangle pattern after Downtrend.
3. Cannot break 31 area in 1W TF.
4. Could be Bullish Flag pattern.
5. Solana reached 8 before and just doing pullback now.
But remember Sol can just do fake break out from triangle pattern and go down.
SOLUSDT - H4SOLUSDT
There may be either the end of the ABC correction or a continuation of the local downward movement. When the correction is completed, the nearest target will be at 24.70.
If we continue to move down, we can see targets at the level of 20.10
What can you expect?
Upward movement - if we see a breakdown of the level of 22.47 - local targets - 22.80 - 23.14 - 23.57 - 24.70. Cancellation of the idea when the level of 21.69 is broken
Downward movement - if we see a breakdown of the level of 21.69 - local targets - 21.39 - 21.00 - 20.66 - 20.10. Cancellation of the idea when the level of 22.47 is broken
Long
Targets – 22,80 - 23,14 - 23,57 - 24,70
Short
Targets – 21,39 - 21,00 - 20,66 - 20,10
SOLUSDT heading down towards weekly supportThe price seems to be heading towards the weekly support WS1. It has lost important support levels and the next good support is the weekly support WS1. Therefore, it seems logical and probable that the price will head there before finding any meaningful support and bounce. A long definitely will be favorable once price reaches WS1 as there should be good enough bounce to make a long trade favorable.
Would you buy #SOL if it would cost 5$?After breaking below 200 and 100 ema on D TF at the level 22.6$ that was standing as support, retest of that support level, that is now is a resistance, could tell us about the confirmation of the continuation of the downtrend.
Currently #SOL looks pretty bearish, and I expect continuation of the downtrend towards to 18.36$ (where we have W FVG) and then to 14.95$ and probably below towards to 5 -8 $ per coin, if it wont manage to hold above M FVG level or 14.95$ (n.1)
If the coin will manage to stand above M FVG, then high probably that it will return to 18 - 19$, where it will be important to see the break above 19$ to continue its uptrend towards to 22- 25$ (n.2)
Or another scenario is that SOL comes to W FVG 18.36$, bounces and comes back to 22 $ to continue its uptrend. (n.3)
solusdtNew update of Solana currency
According to the previous analysis, the price did not have the necessary resistance and crossed the lower line of the triangle, and I expect further correction to the specified range. The number specified in the picture is my intention to enter the purchase transaction. When the price reaches the specified number, please check carefully. As a rule, below the green range is your loss limit. And I tried my best to make the picture self-explanatory.
With thanks for your attention.
Good luck.
SOLUSDT still at weekly resistanceHere is an LTF view of SOLUSDT. The price is trading rangebound between hourly support and resistance. This hourly resistance is a bit above the weekly resistance one WR1 which has held the upward movement of the price experienced in the past few days. The price has hit the hourly support several times only to bounce from there and has reached to the hourly resistance a couple of times only to be rejected. At present the price is bouncing from the hourly support and trading just above it. I expect that it may move up to 21.80 and then start going down. On high time frame, probabilistically it makes sense to go long only after weekly resistance is cleared. Until then short is favorable from weekly resistance on large time frame. Not in trade for this one at moment.
SOLUSDT at weekly resistance, pullback likelyThis one has reached to the weekly resistance WR1. I expect the price to retrace here. This weekly resistance is a strong one and can hold the price back. The next supports are 4h support 4HS1, daily support DS1 and weekly support WS1. I expect the price to retrace at least to 4h support 4HS1 and probably to daily support DS1.