Since May 2022, when #Solana was at $9, I have closely followed the development of this cryptocurrency and applied an investment strategy that has proven effective throughout this exciting journey. Now, with $SOL surpassing $50, it's time to share how I plan to approach this new phase and my long-term prospects.
My approach is to maintain a part of my position even after reaching a goal. This strategy is based on confidence in Solana's potential and an understanding of the inherent volatility of the cryptocurrency market. Upon reaching $50, I do not plan to close 100% of my position. Instead, I will take partial profits and reinvest a portion in a possible correction using Fibonacci levels.
This strategy has proven valuable throughout my journey with Solana. Since the spring in Wyckoff Phase C accumulation, I have taken advantage of the opportunities that the market has given me. By holding a portion of my position, I have the flexibility to capitalize on both bullish momentum and natural market fluctuations.
The next target on my radar is to reach $75. However, I am always prepared to adjust my strategy based on what the market shows us. The resistance at $170 is also on my radar as it represents the annual closing prices for the years 2022 and 2021. Breaking this mark could indicate significant momentum towards higher levels.
Additionally, it is important to consider the context of the cryptocurrency market as a whole. Adoption and institutional interest in cryptocurrencies are constantly evolving and may influence Solana's trajectory in the future.
The ultimate goal I have in mind is $1000. This projection is based on the culmination of impulsive Elliott waves, which is expected in 2025. I understand that this is a long-term outlook and I am prepared to closely monitor market developments as we navigate the movements of the present. .
