SOLUSDT: Signaling Strong Bullish Trend, Upside Potential +40%?

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Hi Realistic Traders, let's delve into the technical analysis of BINANCE: SOLUSDT

Embracing Dow Theory's core idea that "history repeats itself. In September 2023, we witnessed a breakout from a falling wedge pattern. Following that breakout, prices kept climbing in a bullish trend. Recently, we noticed a quick bounce at the 0.5 Fibonacci Ratio, coupled with breaking the upper trendline of the falling wedge. This move was confirmed by a bullish crossover on the stochastic—similar to what we've seen before. So, based on these signals, we're projecting a potential bullish run toward our target area.

It is essential to note that the analysis will no longer hold validity once the target/support area is reached.

Disclaimer:
"Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Solana."

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Giao dịch đang hoạt động

We still have a positive outlook on SOLUSDT as long as the price stays above the EMA90 Line or our support area :)

29 thg 1

Ghi chú

SOLUSDT has already moved above the trendline, we expect it will continue its bullish trend

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Ghi chú

Retesting the trendline with the bullish doji candlestick, we still have the same bullish outlook on this one

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Ghi chú

breakout base. signifying continuation of the trend

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Ghi chú

Reached Target 1, let's observe what will happen next

perhaps reach the second target?

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Đóng lệnh: đạt mục tiêu

hit the second target! :D