Hello There,
welcome to my new analysis about Solana from the broader timeframe perspective. In recent times I spotted fascinating dynamics with SOLANA. The cryptocurrency is one of the TOP cryptocurrencies within the whole market, serving as the 7th biggest cryptocurrency with a market cap of over 47 billion USD. Recently I spotted major technical signs, which are also backed by the strong network and fundamental alignments.
As seen within my chart, SOLANA is moving within a historical trend in which it already managed to form substantial bullish dynamics with significant highs in the range. The most important parts of this whole structure are the two big and worthwhile formations. The first one, being the most important formation here, is this huge ascending triangle formation. Such a formation is likely to come across with a major bullish uptrend once it is confirmed through a strong bounce above the upper boundary.
The second triangle right now, which is also supporting the bullish case here and which is a strong bullish formation that has a high likelihood of following through with major bullish expansions, is this descending wedge formation. Such a formation confirms a consolidated breakout above the upper boundary once the wave count within the formation is finally completed. Right now it is already in the final stages of completion.
There are also further bullish signs here. The next is the main structural bullish support area, which stays between the 75 and 100 zones. In this zone SOLANA also has this main bullish golden triangle, which is forming a strong bottom once it is confirmed. Once SOLANA emerges with this major breakout within the structure, this will be the first step to complete the descending wedge. Then only the huge ascending triangle needs to be confirmed.
Furthermore, the world economy is shifting into a more risk-seeking economy with oil prices high and people seeking solid hedges within the market, which will yield major returns. Also, this is likely to drive demand into the cryptocurrency market, from which SOLANA profits in the long run. For now the next steps will be highly crucial and interesting to watch out for.
In this manner, thank you a lot for the support.
We will watch and monitor the market closely.
As always, we will move on with strong trades popping up!
welcome to my new analysis about Solana from the broader timeframe perspective. In recent times I spotted fascinating dynamics with SOLANA. The cryptocurrency is one of the TOP cryptocurrencies within the whole market, serving as the 7th biggest cryptocurrency with a market cap of over 47 billion USD. Recently I spotted major technical signs, which are also backed by the strong network and fundamental alignments.
As seen within my chart, SOLANA is moving within a historical trend in which it already managed to form substantial bullish dynamics with significant highs in the range. The most important parts of this whole structure are the two big and worthwhile formations. The first one, being the most important formation here, is this huge ascending triangle formation. Such a formation is likely to come across with a major bullish uptrend once it is confirmed through a strong bounce above the upper boundary.
The second triangle right now, which is also supporting the bullish case here and which is a strong bullish formation that has a high likelihood of following through with major bullish expansions, is this descending wedge formation. Such a formation confirms a consolidated breakout above the upper boundary once the wave count within the formation is finally completed. Right now it is already in the final stages of completion.
There are also further bullish signs here. The next is the main structural bullish support area, which stays between the 75 and 100 zones. In this zone SOLANA also has this main bullish golden triangle, which is forming a strong bottom once it is confirmed. Once SOLANA emerges with this major breakout within the structure, this will be the first step to complete the descending wedge. Then only the huge ascending triangle needs to be confirmed.
Furthermore, the world economy is shifting into a more risk-seeking economy with oil prices high and people seeking solid hedges within the market, which will yield major returns. Also, this is likely to drive demand into the cryptocurrency market, from which SOLANA profits in the long run. For now the next steps will be highly crucial and interesting to watch out for.
In this manner, thank you a lot for the support.
We will watch and monitor the market closely.
As always, we will move on with strong trades popping up!
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As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Join Premium Channels: bit.ly/4bUD8N8
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Join Premium Channels: bit.ly/4bUD8N8
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.