SOL (Weekly timeframe): Trend structure

7 Apr

Price is approaching a key macro support zone. However, as long as it remains below the $148 level, I cannot rule out the possibility of one more corrective leg toward the $76–$55 range before a medium-term bottom is established and a potential resumption of the broader uptrend begins.



A breakout and sustained close above the $148 level would serve as the first technical signal that either:
- a corrective wave B (preceding a deeper correction toward the macro support zone) is unfolding, or
- a new long-term bullish trend aiming for all-time highs is beginning.

Monthly outlook:


My previous idea from November 2024 has fully realized its structure:
https://ru.tradingview.com/chart/SOLUSDT/FAHb4atY-sol-usdt-volnovaya-analiz-makro-upd/

Thanks for reading and wishing you successful trading and investing decision!

27 Apr

Nota

Orderly 3-day pullback to rising 8 EMA.

Looking for a strong breakout in coming days above today’s highs to increase odds that the macro correction has finished and the price has started new macro uptrend.

That sad, I am still cautious of a complex corrective structure before one more leg down toward ideal macro support (to 75).

Daily:

Weekly: