SOL possible resurrection?

٢٨ مارس ٢٠٢٣

SOL is one of the most affected cryptos by the FTX crash.

Without knowing much about its fundamental, I would like to give my view based on TA.

In my opinion, along with other large cap cryptos, SOL may have found its bottom (at $8). What will be the worse scenario for SOL than the FTX's fall? May be the crash of all markets? Except this extreme scenario or a similar one, I expect a recovery of crypto market in general and of SOL in particuliar.

Now let talk about SOL. My idea is quite simple: On weekly time-frame, CMF values seem to cross 0 from negative values. It would indicate that the bottom is in and the trend is about to reverse for SOL. Prices are now above the lowest ascending trendline (black continous line), but it would approach this support in the future, at a higher prices. By this, I suppose that the lowest trendline depicted in chart would be the last support, if the considered structure holds.

Certainly I need to search/update on this project, but for a possible investment strategy, I put in chart a referenced "Accumulation area" and a very optimistic target.

What do you think about this analysis and the price projection? Do you believe in a possible ressurection of SOL (and why)?

Thanks for your comments and for any piece of information about the project.

All the best with your trades!

٨ يوليو ٢٠٢٣

ملاحظة

SOL retested the 'last' trendline support and bounced.
CMF values (on 1W TF) are still positive showing buy interest.
Consolidation is still on-going, in my opinion

١٦ يوليو ٢٠٢٣

ملاحظة

First effort to break-out but prices are still in the accumulation area.

٣٠ سبتمبر ٢٠٢٣

ملاحظة

Still in Accumulation box

٢ أكتوبر ٢٠٢٣

ملاحظة

SOL has made a good move up. However, in my opinion, the accumulation at lower prices is still possible. Indeed, in mid-term, here is my view with which SOL is forming an distribution Wyckoff schematic in mid-term:

٢٣ أكتوبر ٢٠٢٣

ملاحظة

For short-term view I'm watching the distribution scenario to add more cheap SOL in my bag.... (see next comment for my complete opinion)

٢٣ أكتوبر ٢٠٢٣

ملاحظة

However, for long-term we can continue to accumulate because SOL is still in the yellow box

٢٤ أكتوبر ٢٠٢٣

ملاحظة

Update on SOL: Keep an eye on the distribution scenario (posted in 2nd October, see comment above)

٢٧ أكتوبر ٢٠٢٣

ملاحظة

THIS IS A SHORT-TERM VIEW:
SOL starts showing some signs of weakness. The momentum to go up is lost. It may consolidating abit before correction.

٣١ أكتوبر ٢٠٢٣

ملاحظة

My short-term analyses did not work for SOL which is very strong. However, my long-term view is unchanged: Accumulation in yellow box.
Today, the train is leaving the station, but future always gives opportunities to buy SOL at good prices. Let just wait.

١١ نوفمبر ٢٠٢٣

ملاحظة

Even I've prepared for this break-out months ago (since march 2023), SOL's move still suprises me, as always (and this time in a good way :) ). Hope that you are enjoying the ride.

٢١ ديسمبر ٢٠٢٣

ملاحظة

SOL has increased almost 300% (x4) from my reference buy. The Target $999 is still far but closer than that at the moment I posted this plan ($20).
Do you think that $999 is feasible in the next bullrun?

٣ مارس

ملاحظة

SOL made 450% since my entry (see first comments). My first target to sell is an x10 (around $250) and the second one is an x20 (around 500). The initial target around 999.99 is still a very big question. Let's see, nothing is impossible in crypto.

١٧ يوليو

ملاحظة

SOL has been consolidating before a new rally (expectedly).
I intend to take-profit between x10 - x20 (mainly) and above.

٢ ديسمبر

تم فتح الصفقة

SOL x10 from my entry.
Already took first profit. Still run the rest toward the next target $490