$SOL/USDT 8h (#BinanceFutures) Falling wedge on support
Solana seems to be accumulating before the so awaited recovery, let's bid on next dip!
Current Price= 31.88
Buy Entry = 29.05 - 25.71
Take Profit= 35.31 | 42.60 | 49.89
Stop Loss= 20.75
Risk/Reward= 1:1.2 | 1:2.3 | 1:3.4
Expected Profit= +28.96% | +55.59% | +82.22%
Possible Loss= -24.22%
Fib. Retracement= 0.236 | 0.382 | 0.5
Margin Leverage= 1x
Estimated Gain-time= 1 month
Tags: #SOL #SOLUSDT #PoS #Staking #PoH #Blockchain #Scaling #NFT #Web3 #Lending #DApp #DeFi #BSC #SolEco
WSOL
Website: solana.com
Contracts:
#Mainnet
#BEP20 0x570a5d26f7765ecb712c0924e4de545b89fd43df
#SPL So11111111111111111111111111111111111111112
Current Price= 31.88
Buy Entry = 29.05 - 25.71
Take Profit= 35.31 | 42.60 | 49.89
Stop Loss= 20.75
Risk/Reward= 1:1.2 | 1:2.3 | 1:3.4
Expected Profit= +28.96% | +55.59% | +82.22%
Possible Loss= -24.22%
Fib. Retracement= 0.236 | 0.382 | 0.5
Margin Leverage= 1x
Estimated Gain-time= 1 month
Tags: #SOL #SOLUSDT #PoS #Staking #PoH #Blockchain #Scaling #NFT #Web3 #Lending #DApp #DeFi #BSC #SolEco
WSOLWebsite: solana.com
Contracts:
#Mainnet
#BEP20 0x570a5d26f7765ecb712c0924e4de545b89fd43df
#SPL So11111111111111111111111111111111111111112
Trade active
2/3 entries filledSolana is pulling back to demand zone as expected, be prepared for a short squeeze!
Trade closed: target reached
TP1 reached with +28.96% (1x) and +1.2RSolana bounced back on demand zone and is trying to break-out of the wedge!
Downtrend seems to be losing steam, SL adjusted to lowest entry (25.71) anyway.
Trade closed: target reached
TP2 was reached with +55.59% (1x) and +2.3R🎯Solana confirmed the break-out of the downtrend after regaining 50MA support, last target is in play!
Now having a hard time breaking above 100EMA resistance, SL moved to highest entry (29.05) and wait.
Note
Final target in playSolana pulled-back retesting the Trend-Line and bounced, trying to regain 100EMA now.
Note
TP3 updated up to 53.87$Solana made a golden cross and is accumulating above support, a last retest of it before another bounce seems likely.
Final target was almost hit, missed by 1.51$ only, let's be optimistic and aim for a higher one with same adjusted SL (29.05)
Note
Support broke-downSolana had a similar out-come, almost kicking us out at entry, let's see if manages to bounce back on time.
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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.