🐋 $SOL has posted 5 consecutive down days on the daily chart, for a cumulative decline of -10.26%. So far today, it is down -0.1%.
Several consecutive days moving in the same direction suggest that buyers or sellers have maintained the upper hand. But the longer the streak, the more closely you should consider trading volume.
Consecutive bullish daily candles mean something different from consecutive candles on an hourly chart: each daily candle represents a full day of trading, so several consecutive candles of the same color are more notable on a daily chart.
When volume gradually increases during a streak of consecutive candles, it is often seen as a sign of continued capital inflows. If volume keeps shrinking, it is often taken to mean that fewer traders are following the move.
Don’t place an order at the fastest point of a move; wait for the price to settle before deciding.
#SOL
This is not a recommendation to buy or sell in any form. You are responsible for any gains or losses.
Several consecutive days moving in the same direction suggest that buyers or sellers have maintained the upper hand. But the longer the streak, the more closely you should consider trading volume.
Consecutive bullish daily candles mean something different from consecutive candles on an hourly chart: each daily candle represents a full day of trading, so several consecutive candles of the same color are more notable on a daily chart.
When volume gradually increases during a streak of consecutive candles, it is often seen as a sign of continued capital inflows. If volume keeps shrinking, it is often taken to mean that fewer traders are following the move.
Don’t place an order at the fastest point of a move; wait for the price to settle before deciding.
#SOL
This is not a recommendation to buy or sell in any form. You are responsible for any gains or losses.