SOL/USDT : DOuble bottom - buy signal
SOL/USDT Mid-term (Daily chart basis - 1 to 6 weeks)
Scenario : We expect a tentative of bullish exit from the current bearish trend as long as MKR remains 800 and 1020 in setback. An intermediate resistance area at 1470/1740 is acting as taking profit level on the short-term while 3580 is the standard target for the coming weeks/months
Key Elements:
- The long-term trend analysis show strategic support at 16,20 while the tactical support stands at 21,60
- The mid-term element as Mobile averages and RSI are still showing SOL under pressure - RSI is accumulating momentum after having triggered a divergence ( mixed picture)
- Double bottom potential at 92.00
- SOL is underperforming ETH but is back on support versus ETH like in May/june 2022 which is calling for a new SOL outperformance soon
Trade Idea : Buy
Target 2 : 92 (+220% from 28)
Target 1 : 49,40 (+73% from 28)
Entry area 27 / 28 (in setback)
Stop 21,60 (Daily close)
Scenario : We expect a tentative of bullish exit from the current bearish trend as long as MKR remains 800 and 1020 in setback. An intermediate resistance area at 1470/1740 is acting as taking profit level on the short-term while 3580 is the standard target for the coming weeks/months
Key Elements:
- The long-term trend analysis show strategic support at 16,20 while the tactical support stands at 21,60
- The mid-term element as Mobile averages and RSI are still showing SOL under pressure - RSI is accumulating momentum after having triggered a divergence ( mixed picture)
- Double bottom potential at 92.00
- SOL is underperforming ETH but is back on support versus ETH like in May/june 2022 which is calling for a new SOL outperformance soon
Trade Idea : Buy
Target 2 : 92 (+220% from 28)
Target 1 : 49,40 (+73% from 28)
Entry area 27 / 28 (in setback)
Stop 21,60 (Daily close)
Note
38 upside confirmation reached - a daily close above will open 49 and 58
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.