$SOL update:
The recent performance of SOL has followed the predicted plan. After entering the market at a strategic point, there was a cautionary note about a potential drop to $77, which was close to being realized with a low of $79. The exit was executed at $82, proving to be a well-timed move.
As anticipated, the reaction in the market aligned with the expectation, with a forecast of a bounce back to $95 if Bitcoin showed positive movement. This prediction has been validated, with #solana reaching $98 but facing rejection and closing at $95. The current chart indicates optimism, particularly concerning EMAs 100/200 across various timeframes.
Despite the positive outlook, caution is advised, and the possibility of a bearish scenario exists. A daily close below $95.50 may trigger bearish momentum, potentially pushing the price back to $77. On the other hand, a daily close above $95.50 could provide an opportunity for bulls to push the price higher to $101 or $105.
It's important to note that some analysts predicting a rise to $126 might be overly optimistic, requiring significant changes in Bitcoin's price or dominance. For now, a rejection around current levels seems plausible. Waiting for a clear #SELL setup before entering is recommended, especially considering the potential bounce at $101, which could present an excellent entry point with the right setup, similar to previous occurrences.
Disclaimer: This stellar analysis comes straight from the insightful UALIFI, a beacon of wisdom in the crypto realm. Shared with permission within the Binance community, it's important to remember that this analysis is for educational purposes only. DYOR (Do Your Own Research) and remember, this isn't financial adviceâjust a thrilling ride in the crypto world! đ
#SOL #SolanaInsights
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