Trading

Solana (SOL) needs one more leg down

Let's take a look at the 1D timeframe of SOLUSDT of the WhiteBit exchange

Hello, everyone!

Let's continue to analyze altcoins. Today's our guest is Solana. This altcoin is not on the bottom, but it needs just another one leg down.

Let's take a look at the 1D timeframe of SOLUSDT of the WhiteBit exchange. First of all I want you to bring your attention to the confirmed bullish divergence with the MACD. But this signal is not valid for me because I want to wait the global lower low, not the local one. I predict the bottom at $24.5. Of course it is the approximate target, we have to observe the market and wait for the confirmation of the insane long. The current picture is super bearish. The price broke down the Fibonacci Golden pocket and faced with the multiple rejection. It means that the start of the impulse will be broken down. If I am right we will see $24.5 very soon.

Best regards, Ivan

Trade on WhiteBIT! Use this link to register and receive 40% of trading commissions from your invited users!

Trade easy with Smart tools
Utilize AI-enhanced SmartBot for automated decisions and SmartTrade terminal for tailored manual trades, all in one integrated platform
Get started

Similar blog posts

Experience the next level of trading efficiency