Sol Strategies Inc. (CSE: HODL) is a Toronto-based Canadian investment firm specializing in cryptocurrency and blockchain-related assets. The company’s primary focus is on treasury management through activities such as lending, staking, and liquidity provisioning. Additionally, Sol Strategies actively invests in early-stage companies operating in decentralized finance (DeFi) and blockchain technologies while also engaging in Bitcoin mining and serving as a validator for the Solana blockchain.
Formerly known as Cypherpunk Holdings Inc., the company rebranded in September 2024 to better align with its strategic focus on the Solana blockchain ecosystem. In a manner reminiscent of MicroStrategy’s Bitcoin-centered investment approach, Sol Strategies has opted to use Solana (SOL) as its principal digital asset.
Given that the altcoin season has yet to fully materialize, Solana retains significant growth potential, which could result in substantial returns on investment (ROI) for Sol Strategies. My Elliott Wave analysis of this stock suggests that it is on the verge of initiating the next leg of a five-wave macrocycle. The first wave, characterized by a five-wave impulse, was followed by a significant correction—a common feature of Elliott Wave theory—resulting in a 50% decline at the end of January. Such corrective phases are typical in low-cap stocks, where retracements tend to be more pronounced.
As indicated by my technical chart, Sol Strategies is breaking out of its local downtrend, with a daily close above the resistance trendline potentially signaling renewed bullish momentum. Given these technical and macroeconomic factors, I plan to "HODL" this stock for the long term as altcoin season progresses. I will continue to monitor the next impulsive wave structure to identify an optimal exit strategy.
Formerly known as Cypherpunk Holdings Inc., the company rebranded in September 2024 to better align with its strategic focus on the Solana blockchain ecosystem. In a manner reminiscent of MicroStrategy’s Bitcoin-centered investment approach, Sol Strategies has opted to use Solana (SOL) as its principal digital asset.
Given that the altcoin season has yet to fully materialize, Solana retains significant growth potential, which could result in substantial returns on investment (ROI) for Sol Strategies. My Elliott Wave analysis of this stock suggests that it is on the verge of initiating the next leg of a five-wave macrocycle. The first wave, characterized by a five-wave impulse, was followed by a significant correction—a common feature of Elliott Wave theory—resulting in a 50% decline at the end of January. Such corrective phases are typical in low-cap stocks, where retracements tend to be more pronounced.
As indicated by my technical chart, Sol Strategies is breaking out of its local downtrend, with a daily close above the resistance trendline potentially signaling renewed bullish momentum. Given these technical and macroeconomic factors, I plan to "HODL" this stock for the long term as altcoin season progresses. I will continue to monitor the next impulsive wave structure to identify an optimal exit strategy.
Trade active
Taking the long Note
Stopped out on the original move, but will be re-entering now at the anchored VWAP, and CC 618 which is here Note
Note
Extended my stop slightly to account for todays price action. Note
Adding a bit more shares on the vwap reclaim/retest here Note
Longer picture, lets see this bad boy pump! Note
I will also be taking major profits at 2 zones, downtrend VWAP, and the 0.618. If we break both then I will still have 20% of the trade running for higher targets Note
Downtrend VWAP providing resistance. Daily time frame still looking nice, stop is very well defined as the loss of the vwapNote
Constantly finding support at the vwap. I would happily close the trade if vwap is lostNote
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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.