Wait... Not Yet! Solana Is Going Lower!

6 lug

It is not the time to buy... Wait!

The market has been consolidating with a bearish bias for months, many months, since March 2024.

This consolidation pattern just witnessed a strong bearish move, the strongest since April.

The descending triangle support level based on candle close has been broken, that is the black dotted-line. This indicates that bearish action is intensifying.

When bearish action intensifies, it is either the correct time to sell or to stay out but not to buy... Buying with a bullish perspective would be a mistake on a bearish chart setup.

I am getting the feeling that you are anxious to make some mistakes and I rushed to my computer just to tell you to wait.

Give it time... Consider the weekly timeframe.

When a strong move develops, it needs time to settle.
Time means longer-timeframes and that's the weekly... Just wait.

Better prices are coming soon.

Thank you for your support.

Namaste.