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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 fxtraderanthony
1
SOL SOLANA SOLUSD Update Jan 25 2024Sharing Solana update here from TTR: I havent updated SOL since after I took nice profits on it. Here is a potential wave 2 setup down, which should bottom around April or May. It seems that ABC down is in play now, with A being in place on that 23rd Jan low, or it can be printed anytime now, not later than the end of the month or so. The B wave is expected to hit around the middle of Feb, and the C wave down into the Apr low - B wave target is 108-116 - C down should bottom at or below 68.50 I will update the bull targets when we are near the C wave low. Everyone should be making money on all of our crypto updates; just don’t use any leverage and options!!! As the timing is always an issue, the best way is to accumulate when the price is going down at support levels and hold for the rally to begin.
COINBASE:SOLUSDLong
by TheTradersRoom
SOL SOLANA Trade IdeaSOLANA has experienced recent downward pressure but is presently trading within a crucial support zone, as illustrated on the chart. In the event that the Dollar Index (DXY) sustains and strengthens its position, SOLANA might potentially move towards additional downside targets, given the typical inverse correlation between DXY and SOL. It is important to underscore that this analysis is offered solely for educational purposes and should not be interpreted as financial advice.
Short
by fxtraderanthony
8