Top 3 Crypto I'm holding for November 2021 (BIG potential!!!!!)
So if you want to find out what is happening right now in price action of solana, price action of cardano and also from polkadot, then this is the right video, because in this video i am going to show you all the possibility that could be playing out Here in the media short term and also in the upcoming days, so this video definitely is going to be one very, very interesting video. So please watch it till the end. So now we are going to start this analysis by looking at the price action of solana daily time frame and im also going to use this logarithmic scale. Why? Because if you look at this price structure here in a daily timeframe, just like what i talked about on my yes, this video regarding solana, price action. We are aware this rising trend line, for us is one very, very important line of resistance, because, with each and every price, movement or price approach, the rising trend line, we always call a rejection and right now, if you look at this price structure guys, we are Saying the price in the media short term, if you do see any sort of a pullback doesnt matter, the trend here could still continue this rally, at least towards this rising trend line before before choosing an actual trend. Duration, because if you flip this resistance around this 380 to 400 price range into support, then you know we have broken this important radius line and price could go very very powerfully after that, but before that guys before that, i want to show you a very, very Interesting scenario, and also a similarity that unfolded here in september 2020, right may 2021 and also could be playing out here right now.
Why? Because, if you look at this price structure, you can see whenever we approach the resistance line, we always saw this price retracement right. You can see we reached the top of this line, we got a retracement and the second attempt was always there. I mean the price here went higher than the previous one we tested this radius line got rejection. Only then we saw this price pullback forming this double top type of scenario. Again a new trend started here and if you look at this price structure, another similar scenario also unfolded. I mean price reached the top of the channel. We got a retracement and again the second atom also got rejected around this rising tree line. Only after that, we saw this price pull back and now, if we look in our case, you can see pretty similar scenario. I mean the price has already got a rejection. Once right, what could be missing is this second attempt so thats, why i was saying you the price here in the middle short term. Even if we are going to see some more shakeout right, there is a very, very high possibility of this trend going to continue at least towards this rising trend line that is lying around 340 350 before choosing an actual trend, duration, so thats, why guys thats? Why? This here is one very, very interesting scenario that is unfolding right now. It price action of solana and if you want to look at this price structure in bit different way without using this log scale guys, then there is another interesting scenario that could be unfolding right now, so guys.
Now what we are going to do is we are going to add this another rising trend line around this price range, because we can see this rising trend line right in a daily time frame acted as a line of resistance, just like with the previous example, but When we broke out of this radius line right, you can see the price saw this really nice movie to the upside, but we came back to retest this previous temporary regis line, which turned into support so thats. Why? We started this new move here to the upper direction so now in a daily timeframe. Right, if you do see any sort of a shakeout, just follow this rising trend line, because this rising 29 is going to be a strong line of support. In case, we see any sort of a price frequency in the immediate short term for solana, and now, if you look at this price structure, there is another interesting scenario unfolding here for our time in a full hour time frame the price structure. What we are witnessing here could be forming a very nice broadening top, as you can see here, and if you want to look at this example regarding broadening top, you can see that this is how it actually looks like in an uptrend like this. Whenever we approach the upper line area, a small pullback type of scenario and by second attempt, we usually break and continue this rally here to the upward direction and right now, if you look at this, we can see another pretty similar scenario, also unfolding in a four Time frame, so if we are going to see this pullback here, just like, i shown you an example, then we are aware the price here right after that could be ready for this next move, as shown here in example, because this is a broadening top.
So this line, which is lying around 250 255 price range, must be flipped into support. If we do that right and price also find proper support over it, then there is a very high probability of price continue to the upper duration. So this is what i see right now. Looking at the price section of solana now lets have a look at price action of cardano, so guys now what we are going to do. We are going to look at this price action of cardano in a weekly timeframe because with each and every impulsive movement, creative movement, another impulsive movement, another correct movement – there is one similarities. I mean if you look at this price structure in a very, very simple way from this swing low till this swing high you can see. Where did the market actually found a proper support exactly after reaching around this 0.618 fibonacci retracement line? As you can see, then we started building support around that price range and once the price was able to again break this resistance and flip it into support. We started this new rally here to the upward direction just like before we started here right and now again guys again, if we look at this in a simple way, lets take this fibonacci retracement from this swing. Low till this swing. High price could be approaching around this 0.618 fibonacci line just like here from the pass price action. So if you look at this 0.
618 right, this price range around 1.80 1.97 could be a strong line of support for cardano. So if we do see any sort of a range bound type of scenario, we are absolutely fine. So what we want here in a week is to flip this resistance from this 0.5 and 0.382 into support, because if we can break out of this 2 10 2 20 resistance into support right, then we will be approaching another fibonacci line and also turning this register Into support will indicate another bullish scenario for kadana, but for now i am actually expecting more of a range pawn type of scenario just like here from pass kadano price action, so more of a range bound type of scenario between this price range of 2.10 to 1.80 Price area, so now, what can we see if we look at this price action, also in a daily time frame so guys? Now, if we look at this cardano price action in our daily time frame, you can see a pretty similar scenario was unfolding. I mean in a daily is very very clear to see that the price was actually finding a strong support around this 0.618 fibonacci retracement areas right. You can see here even though right, even though, if you look at this price structure carefully, you can see this was a very nice looking head and shoulder pattern, but the price still managed to break here to the upper direction, but before breaking it to the upside.
If you look at this price structure, you can see, we actually showed a scenario which is known as double bottom, and we are aware. Double bottom is a bully scenario, because exactly when the price came across this neckline area, you can see here guys around this price range. We were finding resistance, but as soon as we broke out of this neckline, we started this new rally here to the upward direction. So for us right now, just like here, we could be also holding our ground around this price range of 1.80 to 1.90 area. So if we do manage to remain somehow around this price range, then im also expecting a pretty similar scenario to unfollow, just like here price, finding a proper support around this price range right and then continue this rally here to the upper duration so guys now. This is what i see right now, looking at price action of cardano in a weekly timeframe and also in a daily time frame now lets have a look at polka dot, price action so for polka dot, im going to start this in a weekly timeframe, just like With kadana, why? Because if you look at this price movement here, this is actually showing a scenario which we have talked plenty of time in our videos, because, according to this level, most pivotal point theory, as you can already see guys breaking the previous temporary race line is going to Give us a buying opportunity, and if you look at this price structure carefully, you can see this was a previous high before breaking out of it.
We were also finding rejection, so if we do see any sort of a price replacement, you can see around this price range of 40 to 45 dollar. This is going to be a strong line of support for polka dot. Why? Because the same line was an extremely important line of resistance, so if you do see any sort of a price retracement that exact price area around this 40 to 45 is going to be a strong line of support in case. If you do see any sort of a price regression, but in a general breaking the previous temporary baseline, usually indicates a buying opportunity, as shown here in an example from jesse livermore. So, in a weekly, as you can see, the price of polkadot looks very, very interesting and also could be in favor of pulls and now let me also show you in a daily timeframe. What kind of scenario could be unfolding here so right now? What im going to do here is add another interesting scenario, because we are aware, if you look at this price action in a daily time frame, we could be following this a sending channel, because this is any channel. The upper line, as you can see, is a strong line of resistance, and the lower line was a strong line of support with each and every price movement you can see whenever we approach the lower line area. After that, we got a really nice bounce in price action.
So right now we have already reached the top and if we are going to see any sort of a retracement, the lower line area of this async channel could be a strong line of support for polgadot, and not just only these guys. If you also monitor this price movement from this swing low till this swing high, you can see this retracement came only around 0.382 found support and started moving here to the upper duration right and now, if we do the similar scenario, also here from this swing low Till this swing high, you can see we could be again finding a strong support around this 0.382 and price could still see this movement here in this manner, because we are still forming this higher highest higher loss, continuation pattern for polka dot in a daily timeframe, and Also, if you look at this price action in a bit different way, let me show you this one interesting scenario. So now, if we look at this price action in a full hour time frame guys before breaking to the upside, the price here formed a very nice descending triangle. Descending triangle, usually, is looked as a very scenario, but this strain here was continuing to the upside. You can see this line. The upper line area of this descending triangle was a strong line of resistance, but once we broke out of it, we started this new rally here to the upper duration and again, if we look at this price structure, also in a pretty similar way, you can see We actually broke out of this upper line area of this descending triangle right just like here, because this line was also a strong line of resistance, and once we were able to break out of it, we started this new movie to the upside and right now, even Though we are seeing this price pull back, you can see.
This breakout also saw a lot of price pullback shake out on our way, but still continue. This rally here to the upper direction so thats why? I am also expecting a pretty similar type of scenario here. In price action of polkadot, so these are some of the scenarios. I thought sharing it into this episode.