SOLANA - Second Wave Incoming?
2024-07-25

Everyone's favorite altcoin, at least in this cycle! 

Let's study  CRYPTOCAP:SOL 's behavior so far and see how much gas it has left in the tank. 

 Macro View 

The month is looking promising! It's currently trading above previous month high and 2023 yearly open (key level) . What does this mean? Two possible outcomes:

      The trend will stall for another three months before reaching new ATH (all-time highs).
      The trend will issue a new bullish signal at the close of this month if it reaches $200.21.

The latter scenario has a higher probability, so let's explore it a little further

If the trend confirms within this month - let's say it doesn't but August does print the bullish signal - the price targets will be at $438 and $1,531 if things pick up nicely. 

The second target remains within reach as the consolidation period features multiple equal highs. This calls for a strong move to the upside once things line up, as they are doing now. 

 Actions to take: 

      Bid this near $170 and have some last bids at the current monthly open ($148 - $152)
      Add to spot buys if price hits $200 before the July monthly close.
      Trade is meant to be long term, so be patient as I still think it presents the best and safest setup. 

Below $140 the idea is invalidated :(.

