Solana - Buy here for a 452% PROFIT! (Best level)

롱

SOL / TetherUS (BINANCE:SOLUSDT)

업데이트됨

BINANCE:SOLUSDT SOL / TetherUS

beyondta fundamental supportandresistance solusdt solusd solbtc descendingchannel fibonacciretracement fibonacciextension zigzag flat bearishtrendline

You are wondering why SOL is falling drastically and maybe where the best level to buy is. In this analysis, I will show you!
Technically, this coin is very weak. The downtrend is steep and very impulsive, no doubt about it.
But it is also a great opportunity for buyers to speculate on the midterm long position. But first of all, we need to find the best level for it.
Fibonacci is a very powerful tool, and we can use the confluence of the FIB retracement and FIB extension to look for a level where there is likely to be a trend reversal point.
We need to take a FIB retracement (LOG FIB) from the previous huge uptrend from 2020–2021. We can see that 0.618 FIB is at 8.52 USDT. 0.618 FIB is, of course, the strongest FIB level.
Also, we need to take a FIB extension from wave 3 => 4 to predict a fifth wave. There is a pretty good chance that the trend reversal point can occur at the 1:1 FIB extension, which is around 8.74 USDT.
Because we have a very strong fibonacci support between 8.52 and 8.74 USDT, we can place a buy order here and wait for the price to reach this level!
Sounds pretty easy, doesn't it? I think we should see a lot of buyers here, and we can expect a major rally with a potential profit of 452%!
If you bought SOL at a higher price and you want to get out, then it's good news for you! I don't have any SOL at this moment, so I am waiting for the price to come to me!
The price is moving in the descending parallel channel, and this is also a great opportunity to buy SOL at the bottom of the channel, so we have another confluence to buy SOL!
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
I hope you guys will take this trade! Take care.
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