Solana (SOL) needs one more leg down

2022年10月19日

Hello, everyone!

Let’s continue to analyze altcoins. Today’s our guest is Solana. This altcoin is not on the bottom, but it needs just another one leg down.

Let’s take a look at the 1D timeframe of SOLUSDT of the WhiteBit exchange. First of all I want you to bring your attention to the confirmed bullish divergence with the MACD. But this signal is not valid for me because I want to wait the global lower low, not the local one. I predict the bottom at $24.5. Of course it is the approximate target, we have to observe the market and wait for the confirmation of the insane long. The current picture is super bearish. The price broke down the Fibonacci Golden pocket and faced with the multiple rejection. It means that the start of the impulse will be broken down. If I am right we will see $24.5 very soon.

Best regards, Ivan