Solana 2022
We are testing a range that has seen some buying.
Using the last true support in late-August 21', and extending the Fibonacci retracement settings to test the next 61.8% Fibonacci level, we get a similar expected move at $330 approximately.
I expect SOL to consolidate around the lower part of the range, and start its uptrend in March.
The time horizon for March is taken from the Squeeze Momentum Indicator:
https://www.tradingview.com/chart/BTCUSD/jmSasFqz-Squeeze-Momentum-Indicator/
The chart above is for BTC, however, because all crypto assets have a high correlation to BTC, we can expect them to move in tandem.
Using the last true support in late-August 21', and extending the Fibonacci retracement settings to test the next 61.8% Fibonacci level, we get a similar expected move at $330 approximately.
I expect SOL to consolidate around the lower part of the range, and start its uptrend in March.
The time horizon for March is taken from the Squeeze Momentum Indicator:
https://www.tradingview.com/chart/BTCUSD/jmSasFqz-Squeeze-Momentum-Indicator/
The chart above is for BTC, however, because all crypto assets have a high correlation to BTC, we can expect them to move in tandem.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.