SOL EYES $300 SELLERS CAN'T BITE SOL WHO WANTS TO BITE TE CHERRY
2024-12-13
Category: None

TLDR Note 
Skip down to the word “Disclaimer” if you'd like to start with the TA commentary first.

 PSA for My Beloved TradingView Family:
Plan Your Trades… Before You Make Your Trades 

I know it sounds cliché. It sounds elementary. And you might as well say it because you’re thinking it:
 “Damn, he's right.” 
Look, I get it. Do you think it’s easy walking around this small Midwestern town with my massive head blocking the sunrays for everyone within a five-mile radius? No. It’s frickin' hard. But someone has to do it — and they gave me the only hat in town that’s ever fit me in my decades of existence.
So here we are. Play the cards as they lie, right?

 Shoutout to a TradingView Legend: LuxAlgo 

On a more serious note, let’s take a moment to thank a truly special member of our community: LuxAlgo.
Without further ado… give a round of applause to this legend for his Liquidity Pools indicator. This guy has more hits with Pine Script execution than Michael Jackson had top-ten bangers in his career.

 Check out his work here: 
	• LuxAlgo TView
	• LuxAlgo Website

LuxAlgo isn’t just prolific — he’s good. He creates indicators, strategies, and ideas like he’s on a countdown to getting locked up for it. He explains things so clearly that even if I hadn’t used one of his indicators, I’d still hold him in high regard.
Let’s give each other the flowers we deserve. Who knows, you could be next.

 Disclaimer: 

 Quoting LuxAlgo and adding my commentary on Solana vs. the seller's liquidity pool.
 
 Technical Analysis: Solana & Liquidity Pools 

LuxAlgo describes the  Liquidity Pools  indicator as follows:
"The Liquidity Pools indicator identifies and displays estimated liquidity pools on the chart by analyzing high and low wicked price areas, along with the amount and frequency of visits to each zone."

 Key Observations: 
	• Since November 5th, SOL has seen major support at $200. This level is evident on the charts, no further explanation needed — but feel free to ask if you’re curious.
	• The $300 level acted as significant resistance/support (I forgot to paint them red, but it worked out).
By the 16th, SOL moved into the $250 zone. No Fibonacci here — just good old-fashioned price action analysis, clocking in around 150 hours of watching the charts.

 Why Liquidity Pools Matter: 

As LuxAlgo puts it:
 "Liquidity Pools are areas where smaller participants are likely to place stop-limit orders. These zones attract institutional traders who use the pending orders as liquidity to enter larger positions." 

 Translation:    Stop-hunting  Zones. Understanding this gives you an edge. The more we recognize these practices, the less vulnerable we become.

 Support and Resistance Zones for SOL: 
	1. $200: Strong support — SOL hasn't needed to re-test this level yet.
	2. $220-$230: Good support until 11/26.
	3. $240-$250: Key levels where SOL cleaned each major price level on the first attempt.

 How LuxAlgo’s Indicator Works 

"The Liquidity Pools indicator revolves around three parameters" - Lux
	
 
 
 1. Zone Contact Amount:
 		○ Defines how many times a zone must interact with the price to be marked as a liquidity pool.
 	2. Bars Required Between Each Contact:
 		○ Adds a buffer (e.g., 2 bars) to avoid consecutive candles skewing the results.
 	3. Confirmation Bars:
 		○ Waits a specified number of bars after the zone meets the criteria to confirm its validity.

 In layman’s terms: SOL established a new range when it broke out past $220-$225, forming a new floor and ceiling structure. 

 Conclusion 

Throughout this analysis, I’ve likened price action to a fight. Because, in essence, that’s what it is — a battle between buyers and sellers. Armed with tools like LuxAlgo’s Liquidity Pools indicator and war chests more. You can step into the ring prepared, aware, and ready to fight smarter.


Let me know what you think or if you'd like any further edits!

@CryptoSlayerFX - X
@Dodgelon_Musk - Tele