3 possible scenarios for Solana
Long time ago we accumulated Solana (see update linked below) and its time to look where she's at. It's a very hot coin right now and that means I am looking for at least a partial take profit especially given current market conditions.
Solana seems to be forming a peak formation with a notable horizontal resistance at the highs. A breakout beyond this orange resistance cluster is bullish and will lead to a new ATH. However it is to be seen if the bulls can keep momentum throughout the week, hidden bearish divergences have been spot in the RSI and a M pattern on the MACD and in the chart projects we are close to a local top Solana. I'm not shorting, new highs are possible - just giving my analysis mid term which is downside is expected.
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
Solana seems to be forming a peak formation with a notable horizontal resistance at the highs. A breakout beyond this orange resistance cluster is bullish and will lead to a new ATH. However it is to be seen if the bulls can keep momentum throughout the week, hidden bearish divergences have been spot in the RSI and a M pattern on the MACD and in the chart projects we are close to a local top Solana. I'm not shorting, new highs are possible - just giving my analysis mid term which is downside is expected.
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
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Why 3 scenarios? Because they ALL played out.
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