Ever since Novembers high, Solana has been on a massive bearish wave. An indication that the bearish wave was coming was the daily divergence.
Since the bearish wave has started, we can see a number of impulses (in light blue) and corrections leading lower and lower. Question now is: how low can Solana go?
A good way to call the bottom is by looking at the other major Crypto such as Ethereum and Bitcoin. Once they find their bottom, we can assume that the crypto market will also find their bottom and recover.
We can also look for a sharp move up which will indicate that the bearish momentum has ended or will end soon.
For short term trades, we can look for any bearish corrections and get in on the break for quick profits lower.
Goodluck!
Since the bearish wave has started, we can see a number of impulses (in light blue) and corrections leading lower and lower. Question now is: how low can Solana go?
A good way to call the bottom is by looking at the other major Crypto such as Ethereum and Bitcoin. Once they find their bottom, we can assume that the crypto market will also find their bottom and recover.
We can also look for a sharp move up which will indicate that the bearish momentum has ended or will end soon.
For short term trades, we can look for any bearish corrections and get in on the break for quick profits lower.
Goodluck!
