Now, who knows exactly when it is going to take off again. But we can see that SOL has been trading in the same channel for all of 2021. Additionally, we can see that we have had periods of consolidation longer than 16 days. Important to note though that the consolidation is longer when the price is in the upper end of the channel. In the most recent run up for SOL the price did not crack the middle line. Therefore, we should have a shorter consolidation period.
If SOL gives an indication that it is done consolidating I’ll personally be jumping in. indicators would include an increase in , the crossing the signal line, or the (set to 10) turning sharply upwards. This would be the set of conditions needed to put SOL in the 75-80 dollar range.
I can see a situation though where SOL keeps running sideways to get closer to the 50 day MA. I don’t really see it dipping, but I’d prefer not to have money tied up in something that is moving sideways.
I’ll update this if we get a clear indication of where we are headed.
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