huecoshunter

huecoshunter

First of all, what I want to mention is that there is a linear structure at the top of the price view and a parabolic sloping structure at the bottom. This situation alone suggests that the structure has been progressing similarly to the 10-month movement from June 2019 to March 2020 since March 2024. Looking at the current price, I believe the diamond...

huecoshunter

A diamond structure is also appearing in Solana, similar to Bitcoin. The mid level of the diamond formation points to $146. As long as the price doesn't stay above this level, the mid-term target is the lower red zone, which is in the $58-$67 range. At the same time, the cup target is also in the same region and this level indicates the bottom area of the cup formation.

huecoshunter

A diamond structure is also appearing in Solana, similar to Bitcoin. The mid level of the diamond formation points to $146. As long as the price doesn't stay above this level, the mid-term target is the lower red zone, which is in the $58-$67 range. At the same time, the cup target is also in the same region and this level indicates the bottom area of the cup formation.

huecoshunter

Probably Bitcoin price didn't completed downtrend yet. There's diamond and cup formations for that possibility. Diamond Formation The price forming a diamond view since the last $70K times and you can see that by looking at purple lines. Diamond formation works as bearish formation if the price already in uptrend process. But diamond formation also works as...

huecoshunter

Now i want to show what i see on sol long term chart. Let's start then. - There's narrowing triangle between yellow and red channels. - There's cup and handle and currently price seems like that it forming handle part of formation. - There's ascending triangle between blue and yellow channels. So i think Solana is still bullish for this cycle but it's not...

huecoshunter

Yellow wheels are candle contacts of the support channel of the uptrend. The price seems to be gathering strength from the wheels and driving the bus towards the blue windows of if. Its speed may be cut between $2675 - $2700. :)

huecoshunter

Sol dropping recent days. But probably price reached to support with $132 for a while. Price has lost mid term white uptrend channel for the first time past days. Price didn't close any days under this white uptrend channel for almost 7-8 months. But now it failed there as daily close. That's why currently i believe that retest move will come with upward...

huecoshunter

This is the final version of the chart I shared yesterday. - Two major channels have been added above the support channel. - Cycles have been highlighted with vertical lines. - The blue and purple triangles have been emphasized. Triangles We see three triangles in the chart: yellow, blue, and purple. The yellow triangle is an 11-year triangle that encompasses...

huecoshunter

Here’s the biggest difference in this cycle, shown in this chart. How ? 11-Year Support Uptrend Channel This uptrend channel has been working well since 2013, consistently keeping the price above it and pushing it higher. For the first time in the current cycle, since 2022, the price has been moving entirely within this channel. The lower line of the...

huecoshunter

Since we're at the end of the month, it's time to look at the monthly charts. When we look at the price on the monthly chart, we can see that it has settled nicely into these two uptrend channels. Now, let's examine these channels. Uptrend Channels The upward momentum that started with the lower channel touch from $8 has brought the price to the middle...

huecoshunter

Horizontal Resistances In the previous cycle, the price precisely used the $61,820 - $61,920 zone as resistance, and this is clearly visible on the weekly chart. Now, for the last two weeks, this zone has once again been acting as resistance. Looking at the past six months, although the price hit lower levels, it mostly moved between roughly $62K and...

huecoshunter

For now, I think the price will continue in the big circle for the next 1-3 weeks. Why? 1) Parallelism The upper yellow downtrend line and the white downtrend lines are parallel to each other. I think the price will reach the white downtrend area again. Reaching there again will take the price to around $52700. 2) Megaphone When we look at...

huecoshunter

2nd Box in the Chart First, when we look at the boxes on the chart, we can notice the horizontal accumulation zones that continue upwards sequentially. Now, let's look at the 2nd and 3rd boxes. In the 2nd box, we see a downtrend channel. After the price uses the bottom region of the box as support sufficiently with this downtrend channel, it gives the first...

huecoshunter

As you can see, the Solana price has been forming an ascending wedge formation since May 2022. This is a really long-term ascending wedge that has been going on for over two years. So it seems likely that it will continue to work. What Awaits Us? When we look carefully at the weekly candle contacts, we can say that the candle contacts in the lower...

huecoshunter

This structure is almost repeating the structure that started in June 2019. How ? In March 2024, the price made a high with the all-time-high and created 3 lower highs with it. When we look at the 2019 June period, we can see that after creating 3 lower highs since June 2019, the price continued with 3 lower accumulation lows. Now it seems that the first...

huecoshunter

The rising market entered a decline phase starting from June 2019. Since then, the price structure has formed 3 lower highs followed by 3 lower accumulation lows. Currently, the price has already formed 3 lower highs since March. Now, I think the market will move sideways for a while before continuing downward to form the first lower accumulation low. The current...

huecoshunter

Jup price using this channel since its all-time-high. Recently price using mid line of the channel as resistance. If the price can surpass that mid line with $0.835 - $0.84 breakout it will continue to follow white uptrend channel and will want to go to the top line of channel. If it continue to fail to break there, it will want to go to the bottom line of the...

huecoshunter

There is a doji again in the same price range. First one formed in the last cycle at the beginning of bear season. Second one formed last week months after horizontal accumulation. Big red weekly candle occured after doji in the first one. Now, there's possibility to see similar thing.