As planned, Solana has worked its way through the turquoise zone between $22.45 and $17.82 and completed wave 2 in green. Now that this to-do is checked off, our crypto-friend should gather some upwards momentum, which should propel it out of the turquoise zone and further northwards to finish wave 3 in green. However, there is a 20% chance that Solana might not be able to activate the necessary drive and thus slips below the support at $16.01. In that case, we would expect the altcoin to develop a new low in the form of wave alt.ii in orange first before heading upwards.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.