SOLANA H4 OUTLOOKThis chart depicts the analysis of SOL/USDT price action on the 4-hour timeframe on Binance. Key points from the analysis are as follows:
1. Downtrend Channel:
• The price is within a descending channel (orange dashed lines), indicating a bearish trend with dominant selling pressure.
2. Golden Cross:
• A “golden cross” is observed (a bullish crossover of short-term and long-term moving averages), suggesting a potential upward reversal.
3. Liquidity Zones:
• Buy Side Liquidity (BSL): Highlighted by horizontal blue lines at higher price levels (e.g., $211.86 and $234.12). These zones are potential targets where buyers might drive prices up.
• Sell Side Liquidity (SSL): Highlighted by horizontal red lines at lower price levels (e.g., $183.83 and $176.60). These zones are targets for selling pressure.
4. Stop Hunt (SH):
• The “SH” labels mark possible areas where price could grab liquidity before reversing (e.g., upward for lower SH or downward for upper SH).
5. Entry Points:
• Entry 1: $197 (solid orange line): A potential buy entry point if the price breaks below the SSL zone and signals a reversal.
• Entry 2: $187: A lower-level buy entry if the price touches additional SSL.
6. Price Projection:
• The zig-zagging blue line indicates a potential price movement toward BSL (bullish). liquidity grabs around SH zones before heading upward.
