SOL / TetherUSLong
Solana Three white soldiers
Not financial advice.
Strong looking chart for Solana, on technicals.
The caveat first. Crypto is correlated to the tech sector as a whole and if we do get a bear market in equities, then the expectation is that the Altcoins will generally sell off. The fed is becoming more hawkish in its language and it's not likely that language will stop any time soon. But it is a big if and in an inflationary environment, the expectation of course is that crypto will do well.
So Solana showing a nice 3 white soldiers pattern with the most recent weekly close confidently moving us above the 50 week SMA, which itself is pointing upwards.
Price should not close below the 50 weekly MA now, so it it does, I think it is unlikely the $80 region would hold thoughout any ensuing bear market.
I'm working on the assumption that we will remain in a bull market and am taking long trades and scaling in a larger position on the shorter term time frames but I don't want to be a HODLer in this environment and will cut and run if needed.
We should get some warning on the lower time frames before any higher prices, so I'm not FOMOing.
Keep Solana on your watchlist for now.
Strong looking chart for Solana, on technicals.
The caveat first. Crypto is correlated to the tech sector as a whole and if we do get a bear market in equities, then the expectation is that the Altcoins will generally sell off. The fed is becoming more hawkish in its language and it's not likely that language will stop any time soon. But it is a big if and in an inflationary environment, the expectation of course is that crypto will do well.
So Solana showing a nice 3 white soldiers pattern with the most recent weekly close confidently moving us above the 50 week SMA, which itself is pointing upwards.
Price should not close below the 50 weekly MA now, so it it does, I think it is unlikely the $80 region would hold thoughout any ensuing bear market.
I'm working on the assumption that we will remain in a bull market and am taking long trades and scaling in a larger position on the shorter term time frames but I don't want to be a HODLer in this environment and will cut and run if needed.
We should get some warning on the lower time frames before any higher prices, so I'm not FOMOing.
Keep Solana on your watchlist for now.
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