SOLUST.P trade ideas
SOLANA (SOL) is set for another 10-15% FallSOLANA (SOL) is indicating another 10-15% fall towards 64.18-60.56 from around 69.42-70.81 Range.
Possibility will get negated if SOL closes a complete 5 minutes candle above 70.81.
This Analysis and Trade Setup is based on 38% Retracement Breakout Trading Strategy.
Sol analysis 4 hr yf with supp & resis#SOL strongly trended downwards and reached the major support level around $78.00 - $82.00. Looks like Bearish momentum slow down as candles started compressing. A short-term upmove is expected till $86.00 or high. You can looks for short-term buy but overall structure is bearish.
Sol analysis with triangle pattern in 4 hr TF#SOL is been a downtrend since long time and right now price is hodling above the strong support level of $95.50 - $98.00. Currently, price is forming a descending traingle pattern, which is a bearish continuation pattern. If price break below support area, then it will continue dip till major support level at $79.00 - $82.00.
💡Don't miss the great buy opportunity in SOLUSD @solana
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (96.39).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. SOLUSDT is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 70
Take Profits:
TP1= @ 106.07
TP2= @ 114.73
TP3= @ 121.85
TP4= @ 132.93
TP5= @ 152.11
SL= Break below S2
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#sol update scalpzone 4 hr TF#SOL again rejected from the downtrend line and kissed the support of $98-$99 area. The downtrend line is the first resistance to clear. A break and close above the downtrend line is bullish and we see a move towards $116 resistance level. Keep your stop loss below $95 and hold a long position is you opened at the support.
That's my Trade
Again not a Financial advice