Solana: a short pullback to go up again

RF_Trading Updated   
Solana's trading pattern has been consistently oscillating within the range of 22.5 to 24.0. Notably, there have been opportune dips around 22.3, presenting favorable buying opportunities for long scalping strategies. Despite this, our trading approach will remain within the confines of this range until a breakthrough occurs beyond the green box. One scenario could involve a retracement towards 21.6, followed by a subsequent move towards the 200 SMA at 24.NFA
Indeed, the anticipated upside scenario of a 25 test has materialized, notably without a challenge to the 21.6 support. The current outlook suggests a potential phase of consolidation within the delineated purple range, contingent upon the maintenance of the prevailing level. However, it's worth noting that the current upward potential is somewhat constrained at this juncture.


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.