#SOLANA : Am I bullish on it ⁉️
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- The daily time frame shows a significant bearish breakout below 162 and 157.
- The technical situation for Solana is not great, with a downward trend and no momentum.
- Solana against Bitcoin is also trending down with major bearish breakouts.
Bullish Signs
- I am relatively positive for the short term due to:
- Low volume, which may lead to volatility and movement in the next 24-36 hours.
- Solana nearing significant support levels against Bitcoin and in the total altcoin market.
- The 140 level on the daily time frame, which may provide support.
- A bullish divergence, where the price is making lower lows while the RSI is making higher highs.
Confirmation Needed
- I am waiting for a breakout above 146 on the 4-hour time frame to confirm bullish momentum.
- Alternatively, a breakdown below 140 would be a bearish sign.
Short-Term Outlook
- I believe that, due to the circumstances and confirmations, a short-term bullish momentum is more likely.
