SOL/USDT 1D trade idea 
2024-08-09

Solana has been one of the best performing majors so far this Bullrun, and has had one of the best reactions to the recent sell off. 

The DAILY chart is an interesting one and clearly respects the range structure, currently the price has just rejected off the MIDPOINT and for me is an area of contention, there are some triggers i'd like to see and can take action on:

- Accumulation below the Midpoint before a break above putting in higher highs and higher lows when above. The target would then be range high with the 0.75 line as first TP.

- A new lower low and lower high on the LTF from now may signal a move lower, this could then find support at the 0.25 line which is also where the 1D 200EMA is and therefore good support. 