Technical analysis by pollux3000 about Symbol SOL: Buy recommendation (11/7/2024)

Weekly: long term analysisSOLUSDT was one of the top gainers of the last altcoin bull run. After more than 95% deep correction during the bear market, SOL has almost regained its ATH in a strong impulsive upward movement from last October to last March. Since then SOL is consolidating within a perfectly defined range [120$ - 190$]. On a weekly time frame we can see the volatility decreasing and bollinger bands are now narrowed and totally flat. This is a perfect setup for a trade entry.StrategyBuy signal will be given from a daily close above the resistance line (neckline of the inverted H&S) around the 10$ mark.Objective 1: ATH at 250$ ( +25%)Objective 2: Small Flag pole target at 500$ zone (+150%)Objective 3: Big flag pole extension and under Cup & Handle target around 1600$ (+700%)Invalidation Mental Stop: just below the last weekly swing low. This setup proposes a nice Risk RewardIf prices retrace to this stop level we will wait for the weekly closing price then set a Stop loss ¼ or Risk below the weekly close price.Risk = Distance between Mental stop and entry point.Correction of the buy signal Buy signal will be given from a daily close above the resistance line around the 200$ mark (removing the extra words after that which are copy/paste error)Buy signal was given yesterday. Let's follow the trade closely.