$SOL testing critical $100 support! Is a major breakout loading? 👀
$SOL's H4 chart is consolidating right at the crucial $100 psychological support zone underneath the Ichimoku Cloud.
Alright team, let's break down this juicy $SOL chart and see what's cooking!
Technical Analysis:
$SOL is currently retesting the vital psychological support zone at $98.00 - $100.00. Looking at the 4-hour Ichimoku structure, price action is consolidating below the cloud, making $104.00 our primary resistance line to reclaim. A breakout above $104.00 would open the doors for a push toward $108.00 and higher. However, keeping above $98.00 is key for maintaining this base structure.
Fundamental Analysis:
On the fundamental side, the Solana network continues to display phenomenal ecosystem strength, leading in decentralized exchange (DEX) volume and daily active user metrics. Continuous updates to network stability alongside expanding DeFi and NFT liquidity provide strong long-term tailwinds for the asset.
Action Plan:
My strategy here is to watch for solid confirmation of a double bottom around $100 or a clean reclaim of $104 before committing heavy size, taking advantage of these lower ranges to accumulate.
Highly recommend HOLD and Stacking $SOL at Binance
Feel free to comment the altcoin you are holding and we will check it for you!
SOL #Solana #TechnicalAnalysis #Crypto #BinanceSquare #Bitcoin
$SOL's H4 chart is consolidating right at the crucial $100 psychological support zone underneath the Ichimoku Cloud.
Alright team, let's break down this juicy $SOL chart and see what's cooking!
Technical Analysis:
$SOL is currently retesting the vital psychological support zone at $98.00 - $100.00. Looking at the 4-hour Ichimoku structure, price action is consolidating below the cloud, making $104.00 our primary resistance line to reclaim. A breakout above $104.00 would open the doors for a push toward $108.00 and higher. However, keeping above $98.00 is key for maintaining this base structure.
Fundamental Analysis:
On the fundamental side, the Solana network continues to display phenomenal ecosystem strength, leading in decentralized exchange (DEX) volume and daily active user metrics. Continuous updates to network stability alongside expanding DeFi and NFT liquidity provide strong long-term tailwinds for the asset.
Action Plan:
My strategy here is to watch for solid confirmation of a double bottom around $100 or a clean reclaim of $104 before committing heavy size, taking advantage of these lower ranges to accumulate.
Highly recommend HOLD and Stacking $SOL at Binance
Feel free to comment the altcoin you are holding and we will check it for you!
SOL #Solana #TechnicalAnalysis #Crypto #BinanceSquare #Bitcoin
