$SOL/USDT 4h (Binance Futures) Descending channel breakout for BINANCE:SOLUSDTPERP by TradingOn

$SOL/USDT 4h (Binance Futures) Descending channel breakout

Solana has regained 50MA support and looks ready for bullish continuation, probably after a last retest!
Solana Ecosystem is growing a lot lately and definitely here to stay, more information on solana.com

Current Price= 146.557
Buy Entry = 144.673 - 137.327
Take Profit= 170.289 | 201.077 | 232.859
Stop Loss= 121.493

Risk/Reward= 1:1.5 | 1:3.07 | 1:4.69
Expected Profit= +20.73% | +42.56% | +65.09%
Possible Loss= -13.87%

Fib. Retracement= 0.618 | 0.887 | 1.117
Margin Leverage= 1x
Estimated Gain-time= 2 weeks

Trade active

All entries filled

Solana did not bounce where we expected to but set-up remains valid, let's stick to it!

Note

Almost back to Break-Even (BE)

Solana is back outside of the channel and trying to regain 50MA support, future looks brighter now ⛅️

Trade closed: target reached

TP1 reached with +20.73% and +1.5R

Solana confirmed the breakout as foreseen, looking good for bullish continuation.
SL updated to 2nd entry (137.327$) to secure the trade and let it run!

Trade closed: target reached

TP2 reached with +42.56% and +3.07R

Solana revisited demand zone before pumping again, "updated SL" precisely held by 0.369$ 👌🏼
Last target is surely in play, SL adjusted to 1st entry now (144.673$) so it runs risk free!

Trade closed: target reached

TP3 reached with +65.09% and +4.69R

Solana made it to last target in 5 weeks, pretty nice result for the most patient ones!

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