Solana (SOLETH) pair weekly chart is presenting us with a great opportunity to grow our ETH holdings with a SOLETH trade over the next several months.
This is based on the weekly chart so it will take 2-3 months to play out. Solana is getting ready to gain against ETH. This could happen in several ways. One way simply is that SOL gains in price in a significantly faster pace against the ETH .
Another way it could happen is that ETH falls while SOL stays pretty stable range bound.
The right side of the chart is showing possible USD valuation of the move while the chart on the left side is the SOLETH pair. Either way I’m expecting an exponential move in SOL price on the way to .618 fib retracement levels.
I’m exchanging some of my ETH to take this trade. Again regardless of the USD price, the goal is to accumulate more ETH in the long run. And if it doesn’t work I have a great allocation of SOL that I don’t mind holding for the long term.
My initial price target for SOL is $30. If we break that on a weekly close, my next target is $46. I will be taking profits back to ETH, if we hit those levels.
Not a financial advice so DYOR.