Analysis (DYOR)
Guys 👋🏻!
Below are my personal expectations from #sol in near future.
Well, for the last few days we have been seen that #sol is in uptrend but there are almost no volume that supports an idea of a strong trend, it's always a bad sign. Take a look at the liquidation heatmap, there are a lot of liquidity at 200 price mark and probably price will make an attempt to wipe this level out.
Why I expect a 200 price mark is going to be a peak?
1. Strong rejection from 210 price level (displacement, market structure shift), big players sold huge amount of coins at that price level.
2. Current trend is not supported by volume.
3. Big liquidity pools aka magnets for price below current price level (see screenshot).
4. A FVG aka inefficient price delivery (see screenshot).
In order for price to reach 210 price mark again we would like to see increasing volume which is not the case. After probable rejection from 200 price level I expect retracement back to FVG. We can monitor price behavior in that level, if it fails to hold price there, there is a chance to see lower prices. I would appreciate your opinions as well.
Stay safe folks
Thanks
