SOL | Solana Game Plan - Swing Long Idea
📊 Market Sentiment
Market sentiment remains bullish, supported by expectations of a 0.25% rate cut at the upcoming FOMC meeting. The weakening USD and rising risk appetite across global markets continue to favor crypto assets.
We’re currently seeing a minor retracement, primarily driven by the Nasdaq’s pullback — but the overall outlook for the crypto market remains bullish in the weeks ahead.
📈 Technical Analysis
Price was rejected from the HTF bearish trendline near $207 and is now retracing.
The retracement aligns with a HTF bullish trendline, which I believe could spark a strong move to the upside.
This area also aligns with the 0.5 Fibonacci retracement level (discount zone) and a HTF demand zone — forming a strong confluence for a potential bounce.
📌 Game Plan
🎯 Setup Trigger
After these levels are tagged, I’ll be looking for a 4H bullish break of structure, which should also form a new 4H demand zone for confirmation.
📋 Trade Management
Stoploss: Below swing low of the 4H demand zone
Targets:
• TP1: $188
• TP2: $207
• TP3: $297
I’ll trail my stop to lock in profits aggressively as price moves in my favor.
💬 Like, follow, and comment if this breakdown supports your trading!
More setups and market insights coming soon — stay connected!
📊 Market Sentiment
Market sentiment remains bullish, supported by expectations of a 0.25% rate cut at the upcoming FOMC meeting. The weakening USD and rising risk appetite across global markets continue to favor crypto assets.
We’re currently seeing a minor retracement, primarily driven by the Nasdaq’s pullback — but the overall outlook for the crypto market remains bullish in the weeks ahead.
📈 Technical Analysis
Price was rejected from the HTF bearish trendline near $207 and is now retracing.
The retracement aligns with a HTF bullish trendline, which I believe could spark a strong move to the upside.
This area also aligns with the 0.5 Fibonacci retracement level (discount zone) and a HTF demand zone — forming a strong confluence for a potential bounce.
📌 Game Plan
- I want to see price hit the HTF demand zone at $152 (purple box).
- It should also tap the bullish trendline.
- The zone aligns with the 0.5 Fibonacci level — my key discount area.
🎯 Setup Trigger
After these levels are tagged, I’ll be looking for a 4H bullish break of structure, which should also form a new 4H demand zone for confirmation.
📋 Trade Management
Stoploss: Below swing low of the 4H demand zone
Targets:
• TP1: $188
• TP2: $207
• TP3: $297
I’ll trail my stop to lock in profits aggressively as price moves in my favor.
💬 Like, follow, and comment if this breakdown supports your trading!
More setups and market insights coming soon — stay connected!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.