For about a year I've been trading (basic buying/ selling not using Leverage) Solana on Coinbase, I chose solana as its fast, slightly more predictable with a simpler price range & fees are low.
I'm probably about 30% up so far.
Initially the aim was to buy low sell high upon each $5 increase and rinse & repeat if possible accumulating extra Solana on each trade, in the expectation Solana would increase in value in the long term.
Buying in the $120- $160 range was quite easy since there is a high expectation that it would hit that price again following each crash, the risk was at the top end, once it reached about $200 would it continue to go up as it did late last year following Trumps win, or crash again to $120 as it had done multiple times.
Buy here $200 and you risk losing if the price dropped and taking the loss, or having a long wait for it to go up again. Not buying and there is that FOMO.
Solana has gone down again and is likely heading to $120 again given the market sentiment on the economy etc..
So another cycle of $120 - $200 is likely coming up. Maybe trading to accumulate $ rather than Solana is the best approach now?
Anyone else do this?