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Staircase

Can Solana Make a New Breakout According to Stair Steps Pattern?Solana has formed a multi-step stair pattern since late 2022 on the two-hour chart. Each step of this stair consists of a higher high, a higher low and a consolidation move followed by a breakout above the higher high accompanied by a significant spike in trading volumes within each step. Any confirmed breakout above the higher high of each step will be followed by the formation of a new step on the stair. Solana has now managed to break through to the higher high of the fourth step, and it may head to the formation of the fifth step of the stair. We should see a new decline in the price that does not reach the levels of the previous fourth step, and then we should witness a breakout above the higher high in the fifth step, accompanied by a significant spike in trading volumes, which could pave the way towards targeting 21.52-23.03 (of Fibonacci extension levels). In the opposite case, a pullback below 17.56 could invalidate the previous hypothesis.
COINBASE:SOLUSDLong
by SamerHa
2
Solana Climbs Up the Stairs to a New all-Time High?Solana (SOL) has been slowly and steadily moving to the upside like it is climbing a staircase. The staircase effect is an easy way to make sense of the technical picture, and it provides clear support and resistance levels to better time the market. Staircase Effect As the name suggests, the staircase effect happens when the price moves in a stairs-like pattern, consisting of a series of rising steps. Each step is a resistance level that turns into support once the price breaks above it. There are some similarities between the “steps,” which are highlighted below: 1. The staircase pattern starts with a sideways movement that typically lasts 89 bars (using the 4-h timeframe) 2. On average, with each rising “step,” SOL has gained approximately 22% When the sentiment shifts, the staircase effect will make the shift evident as support will start breaking down. Right now, the previous support comes down at around the $220 level. During each previous consolidation zone, we had a successful retest of the previous range. The current downside move towards the support follows the same pattern. If the support level holds, we can expect the bulls to regain control and potentially send SOL to a new all-time high.
Long
by cryptohopper
JICPT| Calendar effect & staircase formation weight on Nasdaq! Hello everyone. Nasdaq has been a bit weak for the past 7 days. What might it go in the short term? Historically, September has been a down month for the markets, which have seen an average decline of 0.56% in the month since 1945, according to CFRA(I copied this from CNBC). On the daily chart, I observed that there was no impulsive candle after the rectangle range was being conquered. Instead, 4-5 small basing candles were formed before a series of bearish candles. Look at the formation of the bearish candles, those are what I called staircase. Normally, I would go away if I'm looking for bullish setups. The correction is not over yet. The flip & the bottom of the range(15180) may give the price a bit support. I've set a alert for the arrival. Give me a like if you're with my view. Thank you for your support.
FX:NAS100Short
by JICPT
7