Solana (SOL) Prepares for Further Movement After Filling OB
#SolanaUSTD #Solana_Blockchain #solanAnalysis #Write2Earn! #BinanceSquareFamily
Solana (SOL) has filled an order block (OB) on a smaller timeframe and is now retreating toward the Break of Structure (BoS) zone.
This suggests a potential further downward movement toward lower levels.
As SOL retraces, there is an opportunity to fill larger Fair Value Gaps (FVGs) and address the Chicago Mercantile Exchange (CME) gap as well, indicating potential volatility ahead.
The game plan remains unchanged for now, as the market continues to play out these technical patterns. Traders should be patient as the price action develops within these zones, with a focus on possible lower entries if the downtrend continues.
Key Points :
- **Order Block Filled**: SOL filled an OB on the smaller timeframe.
- **Break of Structure**: Moving back below the BoS zone could signal a deeper correction.
- **CME Gap**: Potential move to fill larger FVGs and CME gap.
- **Game Plan**: Wait for further market movements to play out before acting
Conclusion :
Solanaâs current price action suggests more downside potential as it retreats toward critical zones after filling an order block. The potential to fill larger Fair Value Gaps and the CME gap could provide opportunities for lower entry points. Traders should remain patient and vigilant as this scenario unfolds.
Advice :
- **Monitor Key Zones**: Watch the BoS zone closely for confirmation of a further drop.
- **Risk Management**: Be prepared with stop losses, especially if the move to fill FVGs occurs.
- **Patience Is Key**: Wait for the setup to play out before making any major decisions.
