$SOL Students, are you brave enough to gamble on the idea that Trump's presidency is favorable for cryptocurrency? If you dare to gamble, then dive into SOL spot trading.
SOL is the most promising cryptocurrency to replace Ethereum, and even if it can't replace Ethereum, it will at least stand on equal footing with it in the future.
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Looking at the chart: the daily level arc top is forming; as for where the arc bottom will extend, we cannot judge solely based on the arc top pattern. We also need to consider other indicators for that.
Continuing to look at the daily level Fibonacci 1:1 retracement target is around 173. If it cannot stop falling near 173, the extreme retracement position corresponds to 1.618, which is around the price of 135.
Praying that SOL does not reach 135; if it does, it would signal the end of this upward trend, and we wouldn't know how long it would take to consolidate before taking off again.
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Similarly, looking at SOL based on Elliott Wave Theory at the daily level: it has currently completed an initial 5-wave upward move, with a 3-wave retracement expected.
All cryptocurrencies revolve around this 5-wave upward movement and 3-wave retracement, repeating this action over and over.
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At the hourly level, SOL must break and hold above 188 to target upwards at 195-202-211. Otherwise, all rebounds are merely to facilitate a better downward move. Please remember, support is meant to be broken, while resistance is meant to be broken through.
At the daily level, SOL should not fall below the 175 mark. If it breaks below 175 and closes below it, we should conservatively look down to the positions of 163-152-133.
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Finally, for those who have always wanted to buy SOL spot, the opportunity has come. If you can, please divide your purchases into batches at the four positions indicated on the chart.
The last position is circled in red; if you've already filled your position at 115 for the first three, then you don't need to buy more.
Alternatively, you can divide your funds into four parts for buying. The 115 position is the extreme point to go all in; if you have funds, jump in at 115, and once your funds are exhausted at 115, just relax and hold.
I don't believe the big trend is bullish will just end like this and start a bear market. I hope my interpretation helps everyone. Meeting adjourned.