This chart setup is likely to be valid until mid-2025. Here I have for you a strong final target, $372, but this isn't likely the end of Solana's bull-market. We will adapt to the market as things unravel.
If after reaching this high a new and higher resistance level opens up, we will share a new chart setup.
This is a low risk trade based on the relatively low amount of leverage. This little amount allows for a position to remain safe even in the face of strong volatility (a drop).
This chart setup remains strong and valid above $150.
I don't think it is necessary for the market to go this low but, you can adapt the trade to your own risk tolerance. Remember that leveraged trading requires experience.
The timing is a bit early, when considering the bigger picture but still good for those with patience. We are talking about days with a maximum of a few weeks for a good advance.
There can be an advance followed by a small retrace and then the higher high. Our eyes are set on March for maximum bullish momentum.
Once we are closer to the breakout, we will increase lev.
A position can be built with margin. It is all up to you.
Full trade-numbers below:
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LONG SOLUSDT
Leverage: 4X
Entry levels:
1) $185
2) $176
3) $160
Targets:
1) $210
2) $233
3) $248
4) $272
5) $310
6) $337
7) $372
Stop-loss:
Close weekly below $140
Potential profits: 412%
Capital allocation: 4%
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The market can look red and pretty bad in some ways, but know that everything can change in a single day. We buy when red to later sell when everything is green. I know it is hard, but that's the way to win.
When in doubt, go spot or reduce leverage. The worst case scenario is a longer period of hold. When certain and doing good, "hit the gas," very soon we are going up.
Thanks a lot for your continued support.
Namaste.