TradingShot
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SOLUSD Megaphone bottomed. $205 min and $340 max Targets.
Solana (SOLUSD) has been trading within a Megaphone pattern, which technically had the price bottomed on its Lower Lows 3 days ago. That bottom was also a 1D RSI oversold barrier (30.00) test, which is exactly where the December 22 2024 Low was priced.
Being below both the 1D MA200 (orange trend-line) and the 1D MA50 (blue trend-line), the natural short-term Target is again the 1D MA50 at $205.00, similar to the January 03 test.
On the longer term, if SOL makes a 1W candle closing above the 1D MA50, we can resume buying and target the top (Higher Highs trend-line) of the Megaphone at $340, which is where the 1.236 Fibonacci extension is, exactly where the January 19 High was priced.
Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea!
#solana #SOLUSD #sol #SOLUSDT #signals
Being below both the 1D MA200 (orange trend-line) and the 1D MA50 (blue trend-line), the natural short-term Target is again the 1D MA50 at $205.00, similar to the January 03 test.
On the longer term, if SOL makes a 1W candle closing above the 1D MA50, we can resume buying and target the top (Higher Highs trend-line) of the Megaphone at $340, which is where the 1.236 Fibonacci extension is, exactly where the January 19 High was priced.
Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea!
#solana #SOLUSD #sol #SOLUSDT #signals
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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