Evening Traders,
Today’s analysis – SOLUSDT – trading within a descending channel where a break bullish is probable,
Points to consider,
- Price Action Impulsive
- Range Low Support
- Range High Resistance
- VWAP S/R Support
- Low Volume
SOLUSDT’s immediate price action is impulsive, breaking out of the descending channel will allow for a bullish bias.
The range low is current support, rotation to the range high is likely for a bullish continuation.
The current volume profileis below average, an influx is highly imminent an expansion occurs.
Overall, in my opinion, SOLUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“Stocks are bought not in fear but in hope. They are typically sold out of fear.” – Justin Mamis
Today’s analysis – SOLUSDT – trading within a descending channel where a break bullish is probable,
Points to consider,
- Price Action Impulsive
- Range Low Support
- Range High Resistance
- VWAP S/R Support
- Low Volume
SOLUSDT’s immediate price action is impulsive, breaking out of the descending channel will allow for a bullish bias.
The range low is current support, rotation to the range high is likely for a bullish continuation.
The current volume profileis below average, an influx is highly imminent an expansion occurs.
Overall, in my opinion, SOLUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“Stocks are bought not in fear but in hope. They are typically sold out of fear.” – Justin Mamis
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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.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
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.