Solana crypto is reacting to a strong imbalance
17 Jul 2022
A strong monthly demand imbalance took control of Solana crypto. The imbalance is located at $35. We are expecting a decent correction from this price level and this crypto.
Solana is a public blockchain platform with smart contract functionality. Its native cryptocurrency is SOL. Last August 2021, a strong impulse created a massive imbalance of around $35. It’s taken a few months for the correction to happen on Solana crypto until last June 2022, when the demand imbalance was reached. We can start thinking of longs now.
Watch the Solana crypto price prediction video below.
Solana crypto price today. SOL analysis 2022
As supply and demand traders, we do not need to pay attention to the DeFi news or fundamental analysis. Unless you are doing very short-term trading and scalping, you should not worry about fundamentals for cryptocurrencies.
Trading is just waiting for the right trigger points and scenarios to present themselves, this game has a name, and it’s called the waiting game. We must patiently wait for the correct scenarios and setups to happen and for the price to pull back or dip into the price levels we want to trade. These price levels are made of supply and demand imbalances in our case. You can use these imbalances to plan your trades in lower timeframes.
Join our supply and demand online trading academy If you want to learn how to trade using our supply and demand trading strategy.
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