SOL idea sharing! Pump or dump?

21 ביולי 2023

On the daily chart, it oscillated between 16 and 27 for a while, but in June this year, it broke below the box lower point at 15.985. However, it didn't continue to decline, and instead, it bounced from a low of 13.160, initiating a upward move, reaching a high near the trading area (Point of Control) around 33.00.
It's worth noting that this uptrend allowed SOL to break above the neckline at 27.155, completing a large double bottom pattern. The moving averages show a bullish arrangement, and the price is above EMA200.
While this recent uptrend may have temporarily paused, it could be an opportunity to position for long positions in the spot market.
Support levels to monitor are:
25.244
22.845~23.460
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Looking at SOL H:

We can see that it's currently the third rebound within this range. Connecting the past rebound highs creates a resistance trendline.
If SOL returns to this trendline, it's essential to look for suitable trading opportunities.
In case SOL falls below 24.939, there might be a chance of meeting support zone 22.845~23.460.