SOLANA (SOL) USDT PERPERTUAL PRICE ACTION ANALYSIS
Solana has had a spectacular run in the past 2 weeks. However, the price might correct a bit for a pullback as it is near a supply zone.
The XABCD bearish Gartley and Bat patterns had set a supply zone above which the price is struggling to sustain on the weekly chart. As we can see there's a bearish divergence developing on the RSI chart, i.e., the price is making higher highs but RSI is contradicting.
The XABCD bearish Crab pattern sets us a target of 278.
Trade Setup
1)Buy around 178 and put a stop loss below 137.
2)Buy on a pullback after breaking the supply zone/PRZ.
Keep trailing until 278. Expect strong resistance here.
Happy trading :)
This is just for educational purposes.
The XABCD bearish Gartley and Bat patterns had set a supply zone above which the price is struggling to sustain on the weekly chart. As we can see there's a bearish divergence developing on the RSI chart, i.e., the price is making higher highs but RSI is contradicting.
The XABCD bearish Crab pattern sets us a target of 278.
Trade Setup
1)Buy around 178 and put a stop loss below 137.
2)Buy on a pullback after breaking the supply zone/PRZ.
Keep trailing until 278. Expect strong resistance here.
Happy trading :)
This is just for educational purposes.
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