Solana Could Soar with Trump Victory

Today marks the first Tuesday in November, and that means one thing: the U.S. presidential election has arrived. Currently, the cryptocurrency market is experiencing relatively subdued activity, with prices in a phase of liquidity accumulation.

This period of calm may give way to heightened volatility as the world awaits the election results and the answer to who will lead the United States for the next four years. For strategic investors, this could be an opportune time to make well-timed market entries and potentially enhance their portfolios.

But the crucial question remains: “Which assets should be purchased, and how can risk be effectively managed?”

4-hour time frame analysis

SOLUSD - 4 Hour Time Frame

When identifying which cryptocurrency offers a compelling buy opportunity with a balanced risk-to-reward profile, Solana emerges as a strong candidate.

Currently undergoing a bearish correction on the four-hour chart, Solana has been in a consolidation phase for several days. This has positioned the asset within a Discount Zone, creating a potentially advantageous entry point for buyers.

Technical analysis further supports this opportunity. A double liquidity sweep, followed by a robust close above a critical resistance level, indicates a rejection of significant downward pressure. This pattern suggests that Solana may be poised for a rally, making it an appealing option for those ready to take advantage of upward momentum.

Solana price target

With the likelihood of increased market volatility, establishing a Stop Loss order is crucial to protect your investment. Ideally, the Stop Loss should be placed just below the internal low, as shown on the provided chart. This placement allows for natural market fluctuations while offering protection in case of a sharp price drop.

For profit-taking, consider a strategy of taking partial gains whenever the price surpasses a Buy-Side Liquidity level. This incremental approach helps secure profits as the trade moves favorably, balancing risk and reward effectively.

By carefully planning your entry and managing risk, Solana could be a valuable asset in your portfolio amid the market movements sparked by Election Day.