Let’s do a small analysis of the market based on the daily basis

regarding SOLANA.

Since the results of election on 5 November, Solana made a big move from 157.95 USDT to achieve its new ATH at 264.39 USDT

on 22 November 2024, exceeding its maximum value recorded

on 7th November 2021 at the value of 258.66 USDT.

Considering the impulse price swing at daily time frame.

We can see that once we achieved our new ATH, we went

bearish to achieve the first sell stops/ Equal lows at the level of 235.43. Using fibonnaci retracement, after this ATH, we got a trading range at the level of 23.6 %, after another drop down, we got a trading range at the level of 38.2 %, after we went below the 50 % level from premium to discount market. We touched the level of 78.6 % and retraced filling the fair value gap of the result of election result period (5 – 6 and 7 november candles). we had a trading range and consolidation at the level of 61.8 %, the price went up to touch the level of 38.2 % and returned back to 61.8 %

level.

Our support is the middle point of the weekly bullish order block at the level of 172.08 USDT. there is another support at the level of 160.28 USDT, representing the bullish daily order block.

Technical Advice :

Since we are in discount market, this is a good opportunity to

buy Solana, it will go up again starting from 20 january 2024, The scheduled date of inauguration of Donald Trump as the 47th

president of the United States.

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