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  • Writer's pictureT. Livingston

Solana Forms A Beautiful Chart Across Multiple Time Frames

It's been said that "beauty is in the eye of the beholder." People often find splendor in different things. While some may admire an attractive woman or a majestic sunset, I've learned to adore stock charts. While it can often be difficult to express, I know beauty when I see it, and Solana is currently setting up in a chart that simply looks absolutely magnificent.

Aesthetics are often hard to quantify but almost always have to do with symmetry and precision. That is exactly what comes to mind when I pull up a chart of SOL, the cryptocurrency of the Solana blockchain platform. On the daily time frame, we can see that SOL is setting up in a well-formed cup and handle base. On the weekly chart, I really like the strong run-up followed by the orderly pullback to the 10-week line. And on the monthly chart, the base is really starting to take shape. I particularly like the strong accumulation off the lows followed by the lack of distribution. The fact that SOL is setting up so well on multiple time frames is an excellent sign that the trend is likely to continue to the upside.

I've owned SOL for some time now, as its' chart is screaming that "Something Is Going On With Solana." The price action is just too good to ignore. It actually looks quite similar to Ether in 2020 just prior to its' monster move higher. I will be monitoring SOL closely in the coming weeks for an opportunity to add to my position.

Risk right. Sit tight.

To learn more about swing trading strategies, stock market trading, and how to trade cryptocurrencies, visit my course page.

Full Disclosure: I currently own SOL, Bitcoin, and Ether.

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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