Our primary scenario for Solana is that the coin is already close to the top of the green wave 4. Therefore, we expect a bearish trend reversal below the resistance at $192.33, followed by a move toward our blue Target Zone (coordinates: $56.56 – $29.87) with the green wave 5. Down there, we see an opportunity for long trades with the low of the blue wave (ii), which should be followed by a fresh upward impulse. According to our alternative scenario (probability: 38%), however, we may have already seen the low with wave alt.(ii) in blue prematurely. To validate this alternative scenario, the price would have to rise directly above the resistance at $192.33 from here and extend the blue wave alt.(iii).
📊 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.
📊 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.