SOL - why are alts holding up so well?
2024-09-30

Quite a few altcoins are holding up well despite bitcoin's pullback today.

If we zoom out on SOL for example, we see some bad lows at local range lows, but high timeframe gives us the confluence of majors highs and also value area high of the range between 120 and 200.

At the same time this move up has left some imbalance and stacked lows, so we can begin to try identify possible scenarios on how SOL could develop from here.

If we see a sweep of the local range and price holds, we can long into those htf highs that are left untapped.

From there it's looking for a deviation that brings us back below 165, where you can be a seller into 140. One step at a time of course, let's see how local range lows react first.