Asset description:
— Ethereum — a key altcoin in the market, providing strong momentum and performing well within higher timeframe structures.
📊 Chart analysis
— We are working on the 1D timeframe
— Current situation:
— the focus was on short positions
— The scenario is fully playing out
— Short position is showing excellent profit 🔻
— Longs:
— Most were closed earlier
— Current ones are only for averaging down / hedging
📉 Short plan
— Main position: already in play
— Being held with the expectation that the trend will continue
📈 Long plan
— Add-ons set: range: 2070 — 1972
— key level of the entire structure (1D) + local level within the structure
— top-up to the current long / risk-free trade
📊 Additional factors
— From below: significant accumulation of long liquidity
— Rising highs
— Heat map data
❗ For futures: after a reaction from the levels, take partial profits and move the position to break-even
Solana is in a major bearish trend and recovery moves toward the upside remain weak. Serious buyers are not entering Solana around this area.
There is a liquidity pool above the chart and behind this pool there is a strong order block. It is expected that upon hitting the order block the price may experience a significant drop and move toward the marked targets.
In the support area we are looking for sell or short zones.
For the first target consider breaking even.
A daily candle closing above the invalidation level will invalidate this analysis.
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What is your opinion about SOLANA?