Is Solana Tethered to the US Indices?
I believed each chart stands on it's own. I don't buy into different assets being tethered to one another or trade in tandem in the long-term. Yes, a broken watch is right twice a day. Right now, and in the short-term, Solana seems to be tethered to the US indices. Truth be told it's hard not to notice that with most directional intraday ticks in the SP500, Solana eventually follows. Eventually a decoupling with take place. But this short term follow the leader thing has forced me to notice the two charts are in much the same situation.
I cannot publish multiple charts on the Trading View platform but suffice to say...the SP500 looks poised to jump about 800 points between now and the end of the year. Additionally, Solana seems poised to make big gains between now and year end.
Attached is a Daily Chart of Solana and my expectations in order of my preference.
1) We find our footing and eventually to new highs this year. As long as we do not breach $75.34 this has the best chance as of now.
2) This 4th wave drags out and $75.34 was just the A wave and now we're in a B wave that reconciles up in the $200 level. This scenario is just a plausible as scenario 1.
3) The 4th wave is not done and we will come down to the $50-$60 level. This will scenario will reveal itself only if the low of $75.34 is breached.
Keep in mind, when analyzing markets, one cannot get married to one direction or another. One must consider the probabilities and the structure, then lastly the technicals. To be blunt, I like Solana as an investment because considering the downside to 50...and the upside to $200 to 400....I prefer accumulation time if I had to use my time wisely.
Best to all.
Chris
I cannot publish multiple charts on the Trading View platform but suffice to say...the SP500 looks poised to jump about 800 points between now and the end of the year. Additionally, Solana seems poised to make big gains between now and year end.
Attached is a Daily Chart of Solana and my expectations in order of my preference.
1) We find our footing and eventually to new highs this year. As long as we do not breach $75.34 this has the best chance as of now.
2) This 4th wave drags out and $75.34 was just the A wave and now we're in a B wave that reconciles up in the $200 level. This scenario is just a plausible as scenario 1.
3) The 4th wave is not done and we will come down to the $50-$60 level. This will scenario will reveal itself only if the low of $75.34 is breached.
Keep in mind, when analyzing markets, one cannot get married to one direction or another. One must consider the probabilities and the structure, then lastly the technicals. To be blunt, I like Solana as an investment because considering the downside to 50...and the upside to $200 to 400....I prefer accumulation time if I had to use my time wisely.
Best to all.
Chris
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