📈SOL: open a long after THIS confirmation on chart!
Solana (SOL) is a top gainer of 2021🔥 But what happen to this alt in 2022? It depends on Bitcoin and Ethereum movement. As you see all alts fall by 75-90% following the movements of biggest crypto.
🔥It was expected for Solana that it ALT can fall to the large green zone which is support for the price and a lot of liquidity for the whales.
📊But what about local scenario? On the chart I marked 2 liquidity gaps. As we can see, during the test of the $58-63 gap the price fell by 31%. This shows the weakness of the altcoin, but it did not fall below its lows, as even Etherium did - this is a positive signal.
Now there is a small squeeze under the trend line, but it seems to me that Solana has not yet accumulated enough strength to continue the growth. Therefore, a local decline is possible, and after returning to the trend line and a squeeze, the price can continue to move to the liquidity gap of $58-63.
✅What will indicate the presence of a buyer? The volume indicator will help identify if someone is accumulating a position before the trend line breakout. Therefore, it is essential to keep an eye on volume.
🚩What could stop the growth? It is necessary to pay attention to false breakouts of the local highs of $48.5 and $55. A big player can push the price up to make long traders fuel for the dump. Also, Bitcoin and Ethereum should indicate buyers power.
💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
🔥It was expected for Solana that it ALT can fall to the large green zone which is support for the price and a lot of liquidity for the whales.
📊But what about local scenario? On the chart I marked 2 liquidity gaps. As we can see, during the test of the $58-63 gap the price fell by 31%. This shows the weakness of the altcoin, but it did not fall below its lows, as even Etherium did - this is a positive signal.
Now there is a small squeeze under the trend line, but it seems to me that Solana has not yet accumulated enough strength to continue the growth. Therefore, a local decline is possible, and after returning to the trend line and a squeeze, the price can continue to move to the liquidity gap of $58-63.
✅What will indicate the presence of a buyer? The volume indicator will help identify if someone is accumulating a position before the trend line breakout. Therefore, it is essential to keep an eye on volume.
🚩What could stop the growth? It is necessary to pay attention to false breakouts of the local highs of $48.5 and $55. A big player can push the price up to make long traders fuel for the dump. Also, Bitcoin and Ethereum should indicate buyers power.
💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
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