Happy New Year, crypto and trading Triends!
I hope you celebrated well! Now it’s time to get serious. I see a short-term opportunity in SOL, with up to 5% upside potential. Here’s why:
Trading below all major moving averages: 50, 100, and 200-day.
Positioned near the lower Bollinger Bands line, suggesting potential oversold conditions.
Close to the bottom trendline, which could act as a critical support level.
SOL remains a fundamentally strong asset, and we’ve observed significant interest from major players, including ETF developments, which could inject fresh money and liquidity into the market.
That said, caution is key. This is a short-term play with a 5% upside potential in the coming week. If SOL doesn’t show upward movement within a day or two, this narrative could quickly lose its relevance, and the situation would need to be reassessed.