#SOL Solana Wave analysis. Short 🔻🔻🔻
Reading numerous channels on crypto, I see that the main authors there are bullish and recommend entering certain projects based on certain values. But unfortunately, many of them do not think about the uselessness of most coins. Many of them are dummy memcoins or governance tokens, like UNI, ARB, which are of little use. These are not shares that give the right to dividends and a share in the company. Most of coins are just candy wrappers that people play with.
I see my mission as forcing you to look at things critically. Don't live in a world of illusions.
Let's return to coins. Level 1 blockchain tokens make real sense. For example Ether and Solana. I can’t call Solan a dummy, but....
To be honest, I am skeptical about SOLANA. The project has poor tokenomics. The majority of the issue is from funds. They are in a huge plus and I suspect they are already unloading their positions. To make it easier to unload, news about cooperation with Paypal is being added.
Wave analysis is also not in favor of the asset. Wave C is what I would characterize as the current pattern. However, if the price can rise to the $194 area and hold the $179 area on any pullback and then rise to the recent highs, I could be looking at a bullish scenario.
But for now I'm waiting for signs that the price is completing its minor wave B.
You can try to open shorts with a stop of 195 and a target in the $55 - $75 range. Even if SOL drops to $100 it will be a great trade. You can try to wait for higher prices and open a short there. If the price goes down, you will need to move your stop loss to breakeven.
Reading numerous channels on crypto, I see that the main authors there are bullish and recommend entering certain projects based on certain values. But unfortunately, many of them do not think about the uselessness of most coins. Many of them are dummy memcoins or governance tokens, like UNI, ARB, which are of little use. These are not shares that give the right to dividends and a share in the company. Most of coins are just candy wrappers that people play with.
I see my mission as forcing you to look at things critically. Don't live in a world of illusions.
Let's return to coins. Level 1 blockchain tokens make real sense. For example Ether and Solana. I can’t call Solan a dummy, but....
To be honest, I am skeptical about SOLANA. The project has poor tokenomics. The majority of the issue is from funds. They are in a huge plus and I suspect they are already unloading their positions. To make it easier to unload, news about cooperation with Paypal is being added.
Wave analysis is also not in favor of the asset. Wave C is what I would characterize as the current pattern. However, if the price can rise to the $194 area and hold the $179 area on any pullback and then rise to the recent highs, I could be looking at a bullish scenario.
But for now I'm waiting for signs that the price is completing its minor wave B.
You can try to open shorts with a stop of 195 and a target in the $55 - $75 range. Even if SOL drops to $100 it will be a great trade. You can try to wait for higher prices and open a short there. If the price goes down, you will need to move your stop loss to breakeven.