Solana (SOLUSD) is on a 5-day pull-back, along with the majority of the crypto market. It is still above both the 1D MA50 (blue trend-line) as well as the 1D MA200 (orange trend-line) coming strong off a 1D Golden Cross. Is this correction, however, a buy opportunity?
Well the last time SOL formed a Golden Cross on the 1D time-frame was exactly 1 year ago (October 22 2023), after coming out of a similar (blue) Channel Down and that initiated the massive October 2023 - March 2024 rally. That rally hit all Fibonacci extensions of the Channel Down successively (2.0, 3.0, 4.0) and consolidated on all of them. Even the 1D RSI sequences between those fractals are similar.
As a result, we expect Solana to hit $315 (Target 1), $515 (Target 2) and $830 (Target 3) within a 4 month horizon.
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Well the last time SOL formed a Golden Cross on the 1D time-frame was exactly 1 year ago (October 22 2023), after coming out of a similar (blue) Channel Down and that initiated the massive October 2023 - March 2024 rally. That rally hit all Fibonacci extensions of the Channel Down successively (2.0, 3.0, 4.0) and consolidated on all of them. Even the 1D RSI sequences between those fractals are similar.
As a result, we expect Solana to hit $315 (Target 1), $515 (Target 2) and $830 (Target 3) within a 4 month horizon.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน
I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน