I take $SOLUSDT LONG

SOLUSDT - Opening a #LONG position

The trade with TON could have been left open, but I decided that fundamentally SOL is stronger in case of a dip. Currently, the market is in a sideways trend, deciding where to move next. For BTC, the support level is around 92-93k, but it doesn’t seem very strong.

SOL is 14% off its previous high and has recovered less than TON. TON is currently down 45%, and while I could have held it, I feel that if things go well, SOL could reach $218. Considering the growing popularity of memecoins, I think Solana has better chances to deliver solid gains.

Duration:
This trade can be either short-term or long-term, depending on your goals. You can also consider entering as an investor in the SOL ecosystem to average down your costs in case of a failed trade. The key is to monitor funding rates.

Target:
Achieve 100% profit. Entry made on Binance with 25x leverage. Margin used: $29.77. Total position size: $744.32.

Risk:
Medium, especially if you’re ready to use dollar-cost averaging (DCA) to manage your position. I’m not setting stop-losses because I currently see a high probability of growth. If it doesn’t work out, this was essentially a $29 lottery ticket.