Solana Swing Trading Possibile Directions
Price retraced 44% towards Box 1, indicating a significant correction with great opportunities. We purchased more SOL at the 200 EMA. What comes next?
Scenario A: If BTC can establish its 21 EMA as support, SOL will likely follow suit. Should this occur and in the short term SOL's price experiences a dip, it should find support around the trendline, 21 EMA, and 100 EMA. At this juncture, the RSI is expected to trade above the middle band, signaling upward price action.
Scenario B: If the price retraces back towards Box 1, it will likely find support once again at the 200 EMA. If BTC maintains a slow pace, the price may range between $110 and $160 USD; otherwise, we may witness further upward price movement. The RSI will continue to trade above the middle band in this scenario.
If you have been buying up these corrections with me hit a like.
Scenario A: If BTC can establish its 21 EMA as support, SOL will likely follow suit. Should this occur and in the short term SOL's price experiences a dip, it should find support around the trendline, 21 EMA, and 100 EMA. At this juncture, the RSI is expected to trade above the middle band, signaling upward price action.
Scenario B: If the price retraces back towards Box 1, it will likely find support once again at the 200 EMA. If BTC maintains a slow pace, the price may range between $110 and $160 USD; otherwise, we may witness further upward price movement. The RSI will continue to trade above the middle band in this scenario.
If you have been buying up these corrections with me hit a like.
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