Start of a downtrend for Solana? 100$ possible

Think Solana could be at the start of a short- to mid-term downtrend coming weeks. 170$ would be an important level to break but looking at the overall crypto market I do believe we will see lower prices across the board. 126$ would be my main target before I'm interested in longs again. IF we see a strong break above 170$ my idea is probably wrong. Shakeouts can happen though, so we need a strong daily, if not weekly close above 170$ to be safe again.

Stay safe!

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Almost to the point :) (so far!)

Another -10% to go before I MIGHT get back into SOL, still have to see how BTC is doing. If BTC dumps to 64k later this day or tomorrow, SOL should reach 126$.

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So it reached 128$ but no big reaction yet. Pretty sure we are close to a bottom across the market but won't rule out one more low coming days but I already opened a few partial longs on 2x leverage.

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Droped below 126$, think we will see a reaction off of this level very soon. Added to my position.

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So far so good :) My squiggly line even predicted the exact bottom and day, which of course is just coincidence, hehe. Now not quite sure what the next steps could be. Think we will see a dip over the weekend, maybe around 140$.

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So we saw 140$ hold for a higher low and right now SOL is approaching a huge resistance area around 160$. Can't help myself and will try to catch a short around these levels as I'm convinced we haven't seen the monthly low just yet. Could be around 120-128$. If this level doesn't hold we must assume SOL is at the start of a downtrend and the move we are seeing right now is just a bearish retest.

TV288

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TV288