#solana LONG
Solana has moved as we discussed earlier. Currently, it is trading at $39, which is a resistance area for it. It touched the level of $47, a major resistance, and we witnessed panic selling in Bitcoin as it dropped to $36,000, impacting Solana's price, causing it to fall by 10%. However, it is now attempting to bounce back from this level and is forming a Dragonfly Doji pattern, a bullish signal. Additionally, the Stochastic RSI is signaling a buying opportunity, and the RSI (14) is at a low level. Therefore, you can consider a long position at this moment with a stop-loss at $37.5 and a target price of around $47. It's advisable not to use high leverage, but rather aim for a 5x to 7x leverage.
