This refers to my last post, but has added support/resistance lines and new expectations for EOM. We’re looking at upper $40’s if current trends continue...
The chart says that it's an uptrend but it also follows the parabolic curve. A parabolic curve usually has 4 bases (The rectangles that I've marked). By the third base, the price usually doubles which it did in this case. After the last run from the fourth base, the price usually goes back down to catch a breath. I'd love to see it keep going up but I don't see...
SOL has been been bringing bears to their knees and making them shed tears for weeks! I don’t see SOL letting up, or having a good size retrace until it reaches ~$40 or potentially higher. I expect anywhere from $40-$48 in the short term (by EOM) and could definitely see further growth with rising publicity, Sam’s seemingly never-ending support, and a HUGE uptick...
Wave 3 here has extended far beyond the 4.618 extension of wave 1. This typically means a good correction followed by a truncated 5th. Let's see how this all plays out, but I'm not optimistic about challenging the ATH again soon, unless wave 3 is not finished yet (which is also possible).
Trade safe!
The strong hand accumulation is done.
Now smart retail is coming into it.
By the time it goes into full-fledged FOMO, the price might be north of $160. Price also broke a long-running trendline as shown
I expect that Solana will continue making higher high inside this trendline for a long time and next stage will be $140.00. and it is really interesting to invest in.
Good luck guys.
The pattern of a (reversed) thunderbolt may occur now.
The pattern of bullish up movement may occur if it will go up now and follows the same pattern as seen before (see white circle)
+ Still high volumes
+ Overal uptrend since end of march
+ Higher lows with two touching points since a few days
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We have to see if we can get support and ascend at point 25.18943417.
If you move down from the 25.18943417 point, you can touch the 22.52378481 point, so you need a short Stop...
#SOLUSD moving on a support line of 25.7 if this line break it will drop to 23 the to 20, other wise if the price goes up the first target is 29 then to 32.8, but according to Moving average indicator the price will go up.
