Solana - Per aspera ad astra 18.01.2023
"Per aspera ad astra is a popular Latin phrase that means "through hardships to the stars."
Today I want to share a very interesting analysis with everyone on here and I have this feeling, that this will get very controversial….
This coin got seriously beaten up since it’s last all-timehigh at 267$, nearly unbelievable that Solanawas trading around this price a little more than a year ago. I still remember the massive hype which occurred on here and several other platforms like reddit or youtube, back when Solana skyrocketed from just 1$ to 100$, 200$ and finally 267$!
It’s safe to say that Solana is one of the biggest losers of 2022, and it’s very interesting to see that the vast majority of investors have ditched this coin.
Well today I want to talk about the future of Solana and why a possible price-target of +450$ is NO JOKE! I know that many investors here have lost a lot of money with this coin, but please, let’s behave civil in the comments… okay?
From a technical perspective, Solana heavily reminds me of Ethereumback in 2017-2018. The chart looks very similar, and Solana established a very promising 5-wavestructure in its last bull run. From my experience I know that, the better and sustainable such movements were, the bigger was the chance that such coins survived. Solanais a very risky investment, even after the massive rallyeof the past weeks.
However the biggest risks also carry the biggest opportunities, don't forget that!
There’s a saying, a picture says more than a thousand words. This image is not my own work, however I couldn’t manage to find the author of this anymore!
Of course, past performance and such comparisons are not a 100% for future success, but I was astonished how similar both coins established their movements.
In the past weeks, Solana surprised everyone and managed to gain more than +210% in a matter of weeks.
Many of you might be interested in a more short-term count, so we decided to share our count with everyone on here. I expect that the whole rally represents a wave (1) and in the next weeks Solana should correct lower in order to establish a proper wave (2).
We are going to further build up long positions here as soon as the price reaches our highlighted buy zone. (16.75$ - 11.50$) If Solana manages to move beyond the key level of 48.34$, a price target of at least +441$ at the 1.618 extension is quite possible.
Nevertheless, it is important to point out that Solana needs to break the key level at 48.34$ in order to officially declare the bear market as finished.
Please notice that we are already invested in Solana since the 20th of June, back then we announced our first positions here on tradingview.
If you should have any questions whatsoever, you can write a comment or contact me directly!
Long Solana(SOLUSD)
AVERAGE EXECUTION PRICE: 29.80$
STOP-LOSS: NONE
LONGERM Target: +445$