WAIT for more confluences if you are going to trade !!!
If the current price action cannot make you bullish on Solana, nothing can. I am heavily investing in Solana because fundamentals and technical are both so strong. Solana is going to go up. BUT, if you are trading, I think it is good to wait a bit longer.
The price moved very quickly from $169 to $295 (all time high) and pulled back to $231 at Fib 0.5. level . It is now starting to move up, but I won't be going to open a long position yet for the following reasons:
1) 4H stochastic has already reached the overbought territory. Therefore, there is a good probability the price might have another minor pull back before taking off.
2) 4H MACD is about to cross and point upwards, but in a situation like this, the lines often fail to cross and the downward price move can resume. (minor pull back) I will wait until the lines properly cross and move upwards in the bull zone and green histogram shows up.
3) The price has retraced to Fib 0.5 and bounced up, which is a very healthy pull back. However, it needs to move above the $264 area which was the major resistance area in Nov 2024 and also it is the current Fib 0.236 level , which is the last line of defence for the bear.
Fib 0.236 is a very stubborn line. Unless it has enough momentum and/or volume, a chance of another pull back is reasonably high.
I am bullish on Solana . I am confident that the price will start to move much higher. However, if I decide to swing trade, I like to wait for enough momentums to build up so that the price will move to the direction of my bias without being caught in the range bound/whipsaw.
The price moved very quickly from $169 to $295 (all time high) and pulled back to $231 at Fib 0.5. level . It is now starting to move up, but I won't be going to open a long position yet for the following reasons:
1) 4H stochastic has already reached the overbought territory. Therefore, there is a good probability the price might have another minor pull back before taking off.
2) 4H MACD is about to cross and point upwards, but in a situation like this, the lines often fail to cross and the downward price move can resume. (minor pull back) I will wait until the lines properly cross and move upwards in the bull zone and green histogram shows up.
3) The price has retraced to Fib 0.5 and bounced up, which is a very healthy pull back. However, it needs to move above the $264 area which was the major resistance area in Nov 2024 and also it is the current Fib 0.236 level , which is the last line of defence for the bear.
Fib 0.236 is a very stubborn line. Unless it has enough momentum and/or volume, a chance of another pull back is reasonably high.
I am bullish on Solana . I am confident that the price will start to move much higher. However, if I decide to swing trade, I like to wait for enough momentums to build up so that the price will move to the direction of my bias without being caught in the range bound/whipsaw.
Trade ativo
As I expected, 4H MACD lines didn't cross and the price failed to move above Fib 0.236. However, the weekly set up is bullish so I still think it will go up eventually. But if you are interested in swing trading in lower time frame, my stance is still the same. Wait until 4h MACD lines cross up in the bull zone. 
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