Id 444

$SOL



The pattern formed here is very similar to XRP. Solana moved to challenge resistance before the major market flush. This pattern is really good for the pair because it makes the flush a non-event. While many Altcoins crashed hard, like ADA and ETH, SOL and XRP remained strong. Here we can see MA200 daily being tested as support.

Good news and bad news.

Good news first. The market is set to grow strongly within weeks. This growth period is set to last for many months.

Bad news. The short-term perspective is still negative. Good news within bad news. This short-term perspective is really short. It only has a few weeks left, two weeks maximum and the bears are out of the game, completely gone.

This is what we have, notice the chart.
The green arrow is only for illustration. Not meant to show exact levels.

MA200 holds and we have a higher low. 3-Feb. vs 13-Jan.
But yesterday EMA55 produced a rejection (resistance confirmed). This is the signal that is calling for lower prices. The same dynamic that I mentioned with Bitcoin and XRP. Many Altcoins are bullish though.

The reason why a pair like this one can be bearish (short-term) while other Altcoins are already bullish (long-term), is because this pair is trading high up. The higher a pair trades, the stronger the possibilities for a retrace. The lower a pair trades, the more exhausted sellers become. At one point there is nothing more to sell and buyers start to show up.

Traders are smart, so they buy when prices are low.
They can easily sell the ones trading high to buy the ones trading low. But this dynamic won't be around for too long.

What we are seeing now is only the continuation of the market flush and the "meat" of the move is already in. There can be more shakeouts and strong swings, but that's it.

Some pairs will go sideways and produce higher lows until they break up with force. Other pairs will go sideways, flash crash once more just to recover within hours or maximum a few days. This will all unravel in the coming days. Say this choppy market action develops between now and February 14. After Feb. 14, full green.

Allow for some variations, the market is just too big.

Solana held nicely and since August 2024 we have higher highs and higher lows.
The market is removing all the weak hands, the over-leveraged traders before a massive run.

This is it. We are going up.

Short-term, I would say mix, but my money is on the upside.
We are going 1,000,000,000,000% bullish by March 2025.
Ultra-bullish in March 2025 and beyond.

We can be bullish even in February after a short while.
Patience is key.

Thanks a lot for your support.

Namaste.