Solana long position (NEW)
Updated
SOLUSDT has been ranging since mid of January 2023. Currently the price is in the mid of the range therefore we expect the price to retest the botom of the range around 20 $ or break the ressitance and continue the bullish move towards 37 %.
The ideal scenario would be if the price breaks the resistance and retests it as a support which would be the entry for a long position.
MACD is about to cross bullishly on daily timeframe. If it happens, most likely we will see the breakout of the resistance. However, everything depends on Bitcoin.
If Bitcoin dumps hard, Solana may break the support at 20 $ and go lower towards 14-15$ support which would be still bullish as the price would create a higher low therefore 14-15$ may be an entry for long position.
3 possible scenarios are shown on the chart.
Good luck
The ideal scenario would be if the price breaks the resistance and retests it as a support which would be the entry for a long position.
MACD is about to cross bullishly on daily timeframe. If it happens, most likely we will see the breakout of the resistance. However, everything depends on Bitcoin.
If Bitcoin dumps hard, Solana may break the support at 20 $ and go lower towards 14-15$ support which would be still bullish as the price would create a higher low therefore 14-15$ may be an entry for long position.
3 possible scenarios are shown on the chart.
Good luck
Note
The price got rejected from the key resistance. Looking for an entry at 14,74$ or lower
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