✅ New trade: $SOL /$USDC
I just went long on 1.98 SOL for about 118€ / 138$ at 69.81 USDC.
Quick chart analysis:
The price of $SOL is clearly in a corrective phase after a prior bullish move. We see a marked downtrend over the past few weeks, with the price breaking supports and currently trading below three key EMAs:
• EMA7: 81.71
• EMA25: 99.56
• EMA99: 133.17
These EMAs are quite spread out and above the current price, indicating strong bearish momentum in the short to medium term.
However, the price has reached a zone near 66.70-69.80, where it seems to be finding some support (recent lows). The buying volume looks relatively decent on the book, and the demand/buy percentage in the order book is balanced (48% buy vs 52% sell).
Strategy: Scalp/short-term trade looking for a technical bounce from this support zone. Tight stop loss and partial profit-taking at initial targets (EMA7 or the 75-80$ zone).
What do you think? Do you see a potential bounce or are we still heading down?
#Solana #SOL #CryptoTrading #Binance #Criptomonedas
I just went long on 1.98 SOL for about 118€ / 138$ at 69.81 USDC.
Quick chart analysis:
The price of $SOL is clearly in a corrective phase after a prior bullish move. We see a marked downtrend over the past few weeks, with the price breaking supports and currently trading below three key EMAs:
• EMA7: 81.71
• EMA25: 99.56
• EMA99: 133.17
These EMAs are quite spread out and above the current price, indicating strong bearish momentum in the short to medium term.
However, the price has reached a zone near 66.70-69.80, where it seems to be finding some support (recent lows). The buying volume looks relatively decent on the book, and the demand/buy percentage in the order book is balanced (48% buy vs 52% sell).
Strategy: Scalp/short-term trade looking for a technical bounce from this support zone. Tight stop loss and partial profit-taking at initial targets (EMA7 or the 75-80$ zone).
What do you think? Do you see a potential bounce or are we still heading down?
#Solana #SOL #CryptoTrading #Binance #Criptomonedas