Get started
chillcrypto

Solana breaks out vs. Bitcoin. Nears prior area of resistance.

Long
Solana / Bitcoin (COINBASE:SOLBTC)  
chillcrypto Updated   
COINBASE:SOLBTC   Solana / Bitcoin
Trend Analysis
2
0
trendanalysis
Solana is where it's at while Ethereum continues to lose ground to Bitcoin. However, we've had this run-up before, and we are nearing an area where we could see a pullback to support. If you are just now entering Solana, be aware of these prior areas of consolidation vs. Bitcoin.
Comment:
To clarify the trendiness shown, the heavy blue line is a 200D MA. The lighter lines are 'faster' EMA lines I use for momentum indicators.

(Whenever price is above the 200D, trading is bullish. If we were swing trading, we would take profit when price touches the lighter blue line, and protecting our assets when price falls below the green line. All out of the trade below the heavy blue line.)
Comment:
And sure enough we resistance and pulled back. This next level will be key as to whether Solana bleeds vs. Bitcoin.
Comment:
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.