Today we bring to your attention the analysis of the SOLUSDT trading pair.
Many votes were cast by users of the Whitebit exchange for the forecast of the cryptocurrency SOL. So, either this is a really decent project that is actively developing or marketers work very well in it)
We are used to trading more what market participants draw well with Japanese candles on the chart, than what marketers paint well “fundamentally” in white papers.
The main range for purchases is $ 28-32
Below is the chart of the SOLUSD trading pair on the 3-day time frame
As you can see, in mid-June, during a massive fall in the crypto market, the price of SOLUSDT entered the global liquidity zone of $19-32
The SOLANA coin was included in our list of planned purchases after 18.06 the price of BTCUSDT updated its low in 2022, and the price of SOLUSDT did not update the minimum at that time.
All the following days we watched the rebound, and are waiting for the retest of the $28-32 price zone, where we placed purchase orders. The first target for fixing profit for us is around $80
However, we also left part of the deposit, which was allocated for the purchase of SOL, for a possible spill to $19.
The SOLBTC price completes the global correction
Also, let’s look at the global chart of the SOLBTC pair
In our opinion, a “bullish flag” is now being formed on the chart, which in the end could theoretically give x10-x15 growth. But it may be in the future.
In the near future, increased volatility is possible, because up to the bottom of the channel -40%, and the scope of the SOLBTC price movement within the “bull flag” 190%
To sum up: if you like to do intraday trading or scalping – be sure to use stops.
Life has taught us over the years that it is unrealistic to catch the final bottom. So we divide the deposit, and we are buying assets by parts when the intuition tells us that the bottom is somewhere close.