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Solanausd

I see a negative scenario for SOLANA, will we drop below $100?Hello everyone! I want to warn those who have open LONG positions on #SOLANA. In the local perspective, we can expect a decrease in the asset down to $92.5 as a head and shoulders pattern has formed on the 1-hour and 4-hour timeframes. The situation is also negative on the daily and weekly timeframes. Since the last local price high on February 14th, I have been seeing selling pressure. The week also started negatively. However, the drop may not be as deep, as we have support in the form of the 200-EMA and the strong Fibonacci 0.236 level, which is at the round number of $100. Therefore, I believe it would be wise for those trading with leverage to reduce their positions, and for those with extra funds to place buy orders at the following levels: $100 $96 $92.5 In the global perspective, after this correction, I expect growth towards $150. This is not financial advice, everything you do, you do at your own risk!
Short
by neverovv
3
#SOL #SOLANA Technical Analysis & Trade IdeaSOL/USD has encountered a significant resistance level on the 1D timeframe. #SOLANA current overextended state after a sustained bullish run suggests a potential retracement as we can see currently in progress. Trade Strategy: Target a possible buy entry near the 61.8% Fibonacci retracement level on the daily (1D) timeframe. Await confirmation of this setup through a daily timeframe #SOL price swing that aligns with the Fibonacci level. Place a stop-loss order below the previous swing low, adhering to a minimum risk-reward ratio of 1:2. Disclaimer: This analysis serves as an informational resource and does not constitute financial advice. Conduct your own diligent research and thorough risk assessment before executing any trades.
Long
by tradingwithanthony
1