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Solana Continues To Set Up Well

Writer: T. LivingstonT. Livingston

Blockchain platform Solana continues to be a point of focus for me as it is building quite an impressive chart. Solana first came across my radar about a month ago as it broke out with volume coming in. Since then, it has been basing in a tight, constructive manner. There are a few things that make me bullish on SOL, the coin that runs on the Solana network. First, the weekly chart looks to be forming a base on base pattern, which is a bullish indication. I really like how the 10-week line has been acting as support since the summer, as this is a sign of sustained buying. In addition, I also am happy to see that for the most part the $200 level has been acting as support. Most importantly, it is very interesting that Solana, Ethereum, and Mana are all outperforming Bitcoin over the last month. Just as I like to make note of which stocks are outperforming the S&P 500, it is equally important to note which cryptocurrencies are outperforming Bitcoin.



I added to my position this week as Solana broke above its' downtrend line with volume coming in.


Risk right. Sit tight.




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Full Disclosure: I currently own Ethereum, SOL, MANA, and Bitcoin.


Full Disclosure: This post contains affiliate links to Gemini and Coinbase.


Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.

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Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.

Risk Disclosure: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

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