SOL/USDT : Pre-Signal on going calling for end of consolidation
SOLANA (SOL/USDT) : Pre-Signal on going calling for end of consolidation
Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions.
While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland
The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain
Solana Supply
Circulating Supply = 317 765 929 SOL
Total Supply = 511 616 946 SOL
Max Supply ( ! CAUTION ! ) => Solana does not have a fixed max supply of SOL. Instead, what is fixed is the inflation rate YOY => Inflationist model
Context
The Solana protocol token has been listed in 2020 before shaping a significant ''follower / consensus'' wave (Wave III/) right after the Summer 2021 and completing the first major degree impulsive cycle with the V/ (I) / (A) an ATH at 260.
At the same moment the RSI shaped a significant divergence started at 194.00 while the market accumulated in overbought area.
The logic in this kind of configuration is to retrace 50% to 61,8% of the all impulsive cycle in a corrective pattern (Range / flag / Descending Flag) and it is exactly what happen here with a complex double corrective move in ABC X ABC Descending Flag
Strategic View - 3 to 12 Month
Regarding the key factor on the Solana Tokenomics (Inflationist model) it will mainly depend of the management of the inflation rate YOY to see a capacity of rarify momentum on the supply in parallel of a significant raise of the protocol using.
From there, as long as 61,00 remains Strategic key Support the market is expected to rise towards 194,00 before 295,20 resistance - However to increase the confidence in this scenario the EMA21/55/89 must be surpassed with a test of 161,00 on the shorter-run
Tactical View - 1 to 3 Weeks
The outlook is more clear on the shorter run, with an RSI providing bullish pre-signal after having surpassed the bearish trend line and shaping a pullback on the previous resistance
In parallel the price-action daily provided a a bullish Morning Star Doji which must be confirmed quickly with a direct rise
For now, as long as 89,00 remains support a direct rise towards 131,00 is expected - this resistance must be surpassed in daily close to reactivate the bullish momentum and open 161,00 before 194,00
We add Solana at 87,10 in the AKTIO Portfolio
Enjoy
Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions.
While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland
The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain
Solana Supply
Circulating Supply = 317 765 929 SOL
Total Supply = 511 616 946 SOL
Max Supply ( ! CAUTION ! ) => Solana does not have a fixed max supply of SOL. Instead, what is fixed is the inflation rate YOY => Inflationist model
Context
The Solana protocol token has been listed in 2020 before shaping a significant ''follower / consensus'' wave (Wave III/) right after the Summer 2021 and completing the first major degree impulsive cycle with the V/ (I) / (A) an ATH at 260.
At the same moment the RSI shaped a significant divergence started at 194.00 while the market accumulated in overbought area.
The logic in this kind of configuration is to retrace 50% to 61,8% of the all impulsive cycle in a corrective pattern (Range / flag / Descending Flag) and it is exactly what happen here with a complex double corrective move in ABC X ABC Descending Flag
Strategic View - 3 to 12 Month
Regarding the key factor on the Solana Tokenomics (Inflationist model) it will mainly depend of the management of the inflation rate YOY to see a capacity of rarify momentum on the supply in parallel of a significant raise of the protocol using.
From there, as long as 61,00 remains Strategic key Support the market is expected to rise towards 194,00 before 295,20 resistance - However to increase the confidence in this scenario the EMA21/55/89 must be surpassed with a test of 161,00 on the shorter-run
Tactical View - 1 to 3 Weeks
The outlook is more clear on the shorter run, with an RSI providing bullish pre-signal after having surpassed the bearish trend line and shaping a pullback on the previous resistance
In parallel the price-action daily provided a a bullish Morning Star Doji which must be confirmed quickly with a direct rise
For now, as long as 89,00 remains support a direct rise towards 131,00 is expected - this resistance must be surpassed in daily close to reactivate the bullish momentum and open 161,00 before 194,00
We add Solana at 87,10 in the AKTIO Portfolio
Enjoy
Trade ativo
Tactical key support at 89.00 tested - but no daily close below (View still valid)Trade ativo
Key tactical support penetrated at 89We are now focus on Key Strategic Key support at 61 to anticipate a recovery (last chance)
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.