- You are wondering why SOL is falling drastically and maybe where the best level to buy is. In this analysis, I will show you!
- Technically, this coin is very weak. The downtrend is steep and very impulsive, no doubt about it.
- But it is also a great opportunity for buyers to speculate on the midterm long position. But first of all, we need to find the best level for it.
- Fibonacci is a very powerful tool, and we can use the confluence of the FIB retracement and FIB extension to look for a level where there is likely to be a trend reversal point.
- We need to take a FIB retracement (LOG FIB) from the previous huge uptrend from 2020–2021. We can see that 0.618 FIB is at 8.52 USDT. 0.618 FIB is, of course, the strongest FIB level.
- Also, we need to take a FIB extension from wave 3 => 4 to predict a fifth wave. There is a pretty good chance that the trend reversal point can occur at the 1:1 FIB extension, which is around 8.74 USDT.
- Because we have a very strong fibonacci support between 8.52 and 8.74 USDT, we can place a buy order here and wait for the price to reach this level!
- Sounds pretty easy, doesn't it? I think we should see a lot of buyers here, and we can expect a major rally with a potential profit of 452%!
- If you bought SOL at a higher price and you want to get out, then it's good news for you! I don't have any SOL at this moment, so I am waiting for the price to come to me!
- The price is moving in the descending parallel channel, and this is also a great opportunity to buy SOL at the bottom of the channel, so we have another confluence to buy SOL!
- This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
- I hope you guys will take this trade! Take care.
- For more ideas, hit "Like" and "Follow", right now!
Nota
Also, if SOL drops to 8.7 USDT, we will have a bullish divergence on the RSI indicator.Nota
I hope you got some cheap solana for 8.7 USDT! We bought it privately at 8.67.Nota
The first profit target is at 29.8 USDT, which is more conservative, and I will take profit here, if SOL gets to this level.Nota
New SOL update here:
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.