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