Solana showing weakness in the weekly timeframe a possible -12%
Despite the strong movement in the monthly timeframe, solana seems to want to cool off a little bit before a continuation and in the weekly timeframe is showing several bearish divergences for almost the entire year of 2024.
So in resume solana could retrace around the $200 level initially and the last downside target will be between $180 to $160 , with various confluences wvap, fibonacci levels and the strong weekly bearish divergences and the retest of the bull flag.
So in resume solana could retrace around the $200 level initially and the last downside target will be between $180 to $160 , with various confluences wvap, fibonacci levels and the strong weekly bearish divergences and the retest of the bull flag.
Trade closed manually
Solana got -6% move and now seems to have found an strong support at $215 and is showing momentum to the upside with bullish divergences in the lower timeframes if the 4h timeframe closes above $230 it could reach the highs again.Note
i think this region between $160 to $180 will be a great opportunity to accumulate solana.
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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.