Solana's retrace is not over, some weakness is showing up on the chart. Here we have a strong lower high on the daily timeframe coupled with very low trading volume. Low trading volume at this point signals that buyers are just not present. When no new buyers are present, the market will continue in the same trend. The trend is the drop that started 19-Jan, confirmed 23-May with a lower high. Today, a local lower high points to even lower prices.
Once the retrace is over, we can expect a new wave of growth; for now, we have to step back and watch (SHORT) until a new support level forms. When support is in, we can again buy (go LONG).
Sell at resistance, buy at support.
Adapt live to market conditions.
Thanks a lot for your continued support.
Choose wisely. Be smart.
Namaste.
Once the retrace is over, we can expect a new wave of growth; for now, we have to step back and watch (SHORT) until a new support level forms. When support is in, we can again buy (go LONG).
Sell at resistance, buy at support.
Adapt live to market conditions.
Thanks a lot for your continued support.
Choose wisely. Be smart.
Namaste.
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🚨 FREE PREMIUM Trades + Top Results
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🚨 Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
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🚨 FREE Quality Content + New Results
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🚨 Go beyond! PREMIUM LIFETIME Access
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Related publications
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.