Long

#SOLANA #SOL TECHNICAL ANALYSIS

Check the status of Solana and the probability of ahead.
According to the formation of the triangle pattern. Because we expect the triangle in wave 4, as well as the top defeat formed in May, it can be estimated using the channels, Andrew's pitchforks, Fibonacci levels, as well as Elliot rules, the possible areas of the wave end.

1- wave is 5 equal to 0.618-1-1.618 % wave 1
2- Wave 4 divides the total movement into a golden ratio.
3- Fibonacci extension wave 4
4- Use Andrew's pitchfork as a channel

Because according to classical technical analysis, the current point, Target is a triangle pattern, entry at this point is very high risk and possibly see price correction, but in the event of price descent and observation of bullish patterns in the range of $ 70 to $ 55, can be buy. And expected after failure to resist $ 100 to one of the targets:
1- $ 140
$ 2- $ 165
3- $ 200
4- $ 220
To climb.

If the price is stabilized below $ 40, this analysis will be canceled.

KhaniTechnical

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KhaniTechnical