So, of course, what we can see immediately on the solana charts. Is this inverse head and shoulders playing out now whenever we see these inverse head and shoulders playing out coming off of a downtrend? That is typically a sign that we could be looking at some type of big move to the upside okay. So what we need to be paying attention to at this exact moment is 221 dollars. Thats going to be that key level that were looking for in the event in which we go back up and we clear 221 dollars, we can be looking at a very, very nice price target – lets go ahead. Oops lets do this. Lets make this a little better. There we go, we could be looking at a fantastic price target. Lets see, go all the way down from the shoulder line, this little neckline, all the way to the bottom of our head, and what were going to do is were going to apply this. To that same line and thats going to give us a breakout target back up towards 257 dollars, which, oh just coincidentally, i guess puts us right up towards this all time: high okay, so we currently do have a pattern that puts us in you know very within Range of getting back up to our all time high now i do want to go ahead and say that it does seem as if this is very within the realm of possibility.

If we look at something like total market cap 2, which is the total market cap of all cryptos, what we can see is that we saw a very, very important retest of a key level of support. What we know about total 2 is that we saw this cup and handle pattern playing out in which we saw the cup we saw the handle and the breakout. Now. What generally happens is that were going to break out were going to come back down to back test this level of support. So, as you can see, we came back down. We lost it temporarily, but are looking to establish some support now on top of this previous cup line. So generally, if we do see a successful support establishment, we will see boom a continuation upwards with the breakout target of this cup and handle pattern playing out which could put the total market cap of all cryptocurrencies that are all coins. You know excluding bitcoin, of course, around 2.28 trillion dollars, which is substantially higher than it is now. So what that tells me about solana is that, if were able to start holding some support, we definitely can be looking at a continued move back to the upside with solana. Establishing new all time highs. What you need to be paying very, very close attention to on the short term, is 221 dollars now the only way in which we will invalidate this, when does this become, you know not even an inverse head and shoulders, but you know just disinvalidated thats the best Way to put it is if we are to come back down and lose this head.

So if we come back down and we lose the head of our inverse head and shoulders, that means that we are still setting lower lows and were no longer setting any type of short term higher highs, and that tells us that the downtrend continues now. The issue then becomes at that point that we would definitely be looking at a loss of lets, go ahead and get this pulled out. The daily 50 ema remember that we have this, oh, so important, daily 50 ema currently sitting at 199 dollars. So if we were to come back down and lose the head of his inverse head and shoulders, we would also be looking at a loss of the daily 50 ema, which could entail some type of pullback all the way towards 165 to 170 dollars. So right now what you need to be paying extremely extremely extremely close attention to is this interaction here we want to see this um 221 dollar level get cleared, even if we have to bounce here for a while, thats fine, but as long as were above 196 Dollars and we eventually clear this 221, we are looking at a massive move to the upside to a new all time. High. Many of our charts do support this move. You look at the hourly charts. We just got a massively bullish golden cross right here. Boom blue line crosses through the orange line. Now we just got to continue. If we look at the four hour, charts were seeing a very similar picture play out in which were just building up momentum coming out of this bearish territory.

Well, look at the daily macd! Just for even more of an example, it does seem as if were finally starting to see this thing slow down a bit. This downward slope is starting to slow down, and we may be looking to converge very soon. All of this to say that, as long as we are above 196 dollars and we start to work our way back above 221, i definitely do believe that we could be looking at a fantastic move to the upside. So if you are looking to buy solano right now, what i would be doing is looking to see. Can we get some four hour closes above 221, and if that is the case, do you anticipate that some type of big move back up to 250, but even as far as 300, could be on the way, so that is going to be todays, little short, sweet And simple update on solana, it seems, like you guys, really enjoyed the very short straight to the point updates if you do enjoy them. Definitely do let me know in the comment section i can kind of structure my videos like this, a lot more and if you do want more in depth, information and the ability to see the trades im making my portfolios and everything go down to the link in The description do go check out the patreon. We have called so many trades several trades just in the last couple months that have done 100 plus 50 plus so definitely go check it out, as i think it does provide a lot of value.

But with that being said, of course, i hope you guys did enjoy todays video again and you can.

https://www.youtube.com/watch?v=_SCXFhCEadM