Solana is going through a rough patch, with a sharp drop below $180! 📉 Investors are starting to turn away, and many are wondering if a rebound is possible.
🔍 Why the drop?
Solana has recently lost a significant portion of its capitalization. Technical issues, centralization concerns, and growing competition in the decentralized blockchain ecosystem have weighed on confidence.
💥 What's the outlook?
Some analysts point to major supports around $150, but the question remains: will Solana be able to rebound? Indicators are mixed, and a deeper correction is not excluded.
💡 What you need to know:
1. The crypto market is volatile, and corrections can offer opportunities, but also risks.
2. If $SOL bounces, key levels will need to be closely monitored.
3. Diversification and patience will be key to navigating these choppy waters.
🔄 What do you think? Are you still bullish on Solana or are you taking a step back? Let’s discuss in the comments.
$FET 💼 #TradeCrypto: Opened a long position on #FET/USDT at $0.728 I plan to take a long position on FET/USDT at $0.728, taking advantage of the current correction in February 2025. The objective of this trade is to capture an upward movement towards $1.08, based on the analysis of historical support and resistance levels. 📉 Technical analysis: Market Context: After a significant rise in February 2024, FET gradually lost momentum until reaching a low in August 2024. However, the observed decline was not strong enough to reach the resistance tested in December 2023 and January 2024, located around $0.728. This key level could now act as support.
I opened a long position on TAO/USDT at $355.5 in February 2025, taking advantage of the current decline. The price of TAO/USDT is currently at $430, and my sell target is set at $440.
📉 Technical Analysis:
Support identified: The $355.5 level served as support before the rise observed in mid-September 2024. This area has been tested several times, and after the recent correction, it presents a favorable entry opportunity to anticipate a new bullish phase.
Target at $440: This level corresponds to a key resistance, previously observed during the December 2024 and January 2025 rally. I expect a new attempt to break this zone due to current market dynamics.
🧠 Strategy:
The current correction offers a buyback opportunity on a solid support, with an anticipation of a technical rebound in the following months. My objective is to sell back at the resistance observed in December 2024 - January 2025.
Indicator analysis: The RSI is currently close to 30, indicating a potential reversal to the upside. Volumes show a slight decrease in selling pressure, reinforcing the hypothesis of a stabilization around this support.
Sell target: $440 in December 2024 - January 2025. This resistance zone has shown strength during the last bullish attempts, and I plan to capture the next move by targeting this region before a possible new correction.
🛑 Risk Management:
Stop-loss placed below $340 to limit losses in case of a new bearish breakout. The risk/reward ratio of this trade is approximately 1:3, with the goal of maximizing gains while managing risk effectively.