Solana (SOLUSD) has been trading within a Channel Up pattern since the June 13 Low. As long as its Higher Lows (bottom) trend-line holds, it is a buy opportunity targeting its Higher Highs (top) trend-line. Technically it resembles, in 1D RSI terms also, the last rebound towards the ATH Lower Highs trend-line, which stopped just below the 1D MA200 (orange...
Solana (SOLUSD) broke yesterday above the Lower Highs (top) trend-line of the Triangle pattern that it has been trading in for the past 1 month. The pull-back that followed has been quicly contained today above the 4H MA50 (blue trend-line), which has established itself as Support, with the 4H MA200 (orange trend-line) being right below on the 0.618 Fibonacci...
Solana (SOLUSD) hit today the Lower Lows trend-line (bottom) of the Bearish Megaphone pattern that started after the November 08 2021 High (and All Time High). It is now closer to the 2.0 Fibonacci extension, which as shown on the chart play a major role in determining Lower Lows (rebounds) and Lower Highs (rejections). With the 1D RSI on Lower Highs, traders can...
*** *** For this particular analysis on SOLANA we are using the SOLUSDT symbol on the Phemex exchange. *** *** The idea is on the 1D time-frame where the 1D RSI broke into the heavy oversold zone, which last revisited back in late January 2022. The price then entered a long-term consolidation, trading sideways until the 1D MA50 (blue trend-line) broke but still...
Solana has been too quite in 2022, contrary to its impressive 2nd half of 2021. The chart is pretty much self-explanatory so I will not go into much detail. As you see, the price has been trading below the 1D MA50 (blue trend-line) since December 04 2021. Today SOL is testing this MA. A break above would be a strong break-out buy signal as this is consistent to...
I haven't updated SOLUSD since July and the upper break-out which gave me a $130 target: Well the target got quickly hit according to the Fibonacci levels provided with Solana trading within a Channel Down (blue pattern) ever since its November All Time High (ATH) and since December 04 has been trading entirely below its 1D MA50 (blue trend-line). This is not...