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  • Writer's pictureT. Livingston

Solana Looks Like Ether In 2020

While I mostly focus on Bitcoin and Ether, Sol, the cryptocurrency of the Solana blockchain platform, has been creeping across my radar over the last few months. The reason for this is simple: the chart is just too impressive to ignore. When we look at a monthly chart, we can notice that SOL looks quite similar to Ether in 2020. Both ran up and topped before building large multi-month bases. Now, SOL looks to be building out the right side of its' base, just like Ether did in 2020.

SOLUSD Chart November 2022

Ether Chart 2017-2022

The daily chart of SOL shows just how strong its' recent action has been. SOL has actually been outperforming Bitcoin, the number one cryptocurrency by market cap. The weekly chart is equally impressive as the large skyscraper accumulation is clearly not your "Aunt Suzzy" buying, as the great William O'Neil would say.

I will be monitoring SOLUSD for an entry point in the coming weeks.

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 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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