Looking at the bigger picture always make the technical analysis easier. Solana broke the logarithmic trend (red trendline) long time ago and i was lucky enough to see that using technical analysis ( Link provided at bottom). On 6th of december it broke that red trendline and same time we had bearish crossover on macd. Back then everyone was so bullish. I literally got kicked out a telegram community for openly calling solana a short at ath.
Now RSI is oversold the most it has ever been. Macd is still below the 0 line. We may get a bounce or maybe not. Next horizontal support $20 area or we may find support at green trendline. To be honest i am waiting for Big caps ( Apple Microsoft Google) to fall more than 50% to before i start building any position on anything. I have been 100% cash from investment perspective since ATH on everything. I have only been trading objectively.
Thanks for reading.
No investment advice
Now RSI is oversold the most it has ever been. Macd is still below the 0 line. We may get a bounce or maybe not. Next horizontal support $20 area or we may find support at green trendline. To be honest i am waiting for Big caps ( Apple Microsoft Google) to fall more than 50% to before i start building any position on anything. I have been 100% cash from investment perspective since ATH on everything. I have only been trading objectively.
Thanks for reading.
No investment advice
