⛳ SOLANA- Epic Run Might Lead to a Correction 🚩🚩🚩

2021年8月17日

Our chart on Solana which by the way has had an EPIC RUN!

Solana Hit New All-Time High Above $60.
In January this year, the token was worth just $2.
On the 20th of July Solana was worth 21$
Just 2 days ago, it was priced at just 45$

At this stage, a correction is more likely than a rise at higher levels, no matter what Bitcoin does next. The price would need to check the 63.83 level as support (previous resistance) before rising higher.

Personally, I am short on Solana with my stop loss at 76$ and a target profit level of 59,3$ and 55$.

But that is just me hedging my exposure on other cryptos which I am long on.

Last Thursday, Mango markets, a high-speed, decentralized exchange powered by Solana, announced a successful $70 million crowdfunding. A week ago, the Solana Foundation launched the Wormhole update, allowing integration between different types of blockchains on its network, such as the Binance Smart Chain, non-fungible tokens (NFTs), and crypto price data. All this is great news but I really doubt that Solana will compete with Ethereum, Cardano and even Polkadot.

Like the so-called “ETH killers”, such as Polkadot and Cardano, the project claims to offer a faster and more efficient alternative. For instance, Solana says it is capable of processing more than 50,000 transactions a second, rivaling Visa’s claimed 65,000 transaction messages a second (TPS). However, it currently handles 6,110 TPS, according to solanabeach.io, an information platform maintained by one of the network’s validators, Staking Facilities.

I might be wrong, I might be right, this is my opinion. It's not easy to dare going short on a raging bull. Solana has been exactly that in the last days. Many people have just discovered it.
FOMO costs money. Solana is a train I missed but also a train i catch a little later.

🚩🚩🚩PS. Solana's Max Supply? Unlimited 🚩🚩🚩


One Love,

the FXPROFESOR

2021年8月18日

交易结束：到达目标

Our first target for yesterday's short was reached, so no damage but SOLANA is BULLISH now over resistance and checked it as support