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Good Morning Traders,
Today, August 27, after the words of FED President Jerome Powell at Jackson Hole, SOL suffers a loss of 10.07%, closing at around 31.72 USD.
Seeing the great correlation with the financial world, especially equity indices, we enter short on this signal provided by Lift-Off.
Solana currently ranks #9 in the capitalization classic, with 11.216B USD
Below the chart with the signal detected by Lift-Off
Two words about the Solana project:
Solana is a highly functional open source project that relies on the permissionless nature of blockchain technology to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation based in Geneva, Switzerland.
The Solana protocol is designed to facilitate the creation of decentralized apps (DApps). It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.
Thanks to the innovative hybrid consensus model, Solana enjoys the interest of small merchants and institutional merchants. A significant goal for the Solana Foundation is to make decentralized finance accessible on a larger scale.
Signal Board of August 27, 2022
Stop Loss : $40.00
Take profit: not entered
Risk percentage 1%
We will try to run the trade up to $25-26 USD and then see how the price will behave on the period lows.