Greetings fellow traders. In this analysis, we take a look at a possible Solana ($SOL) Buy Swing position. The Risk-to-Reward on this trade is a "No-Brainer" hence the reason I am sharing this trade setup.
My confluences for the Buy trade setup:
- Solana is well known as for its NFT ecosystem. With $SOL being the underlying currency for this ecosystem, it makes $SOL fundamentally strong for the long term.
- Now lets look at the technical analysis,
* There is a Fair Value Gap around $29.50.
* There is also a Bullish OB just below the FVG.
* There are notable equal highs/ Sell Side Liquidity around $34.50 that has to be raided.
* I will be targeting the Fair Value Gap by $42.50 as my intermediate target price. My Long term target price is $60.
- Looking at seasonal tendencies, Q4 is usually good for the Crypto market therefore there is a higher possibility of the market being Bullish than Bearish.
My Entry price is sub-$30 (preferably, $29.50). Use proper risk management.
With this said, Happy Trading Pals
My confluences for the Buy trade setup:
- Solana is well known as for its NFT ecosystem. With $SOL being the underlying currency for this ecosystem, it makes $SOL fundamentally strong for the long term.
- Now lets look at the technical analysis,
* There is a Fair Value Gap around $29.50.
* There is also a Bullish OB just below the FVG.
* There are notable equal highs/ Sell Side Liquidity around $34.50 that has to be raided.
* I will be targeting the Fair Value Gap by $42.50 as my intermediate target price. My Long term target price is $60.
- Looking at seasonal tendencies, Q4 is usually good for the Crypto market therefore there is a higher possibility of the market being Bullish than Bearish.
My Entry price is sub-$30 (preferably, $29.50). Use proper risk management.
With this said, Happy Trading Pals
