SOLANA WILL NEVER UPDATE ATH AGAIN !?
Updated
📣 Hello everyone! - I bring to your attention my very long-term view of the SOLANA coin exclusively from the point of view of TA, namely Elliott wave theory.
Brief explanations:
1️⃣ The pulse five of the secondary wave level ended in November 2021, marking ATH at $259.90, and (1) of the primary wave level is already on my chart there.
2. After a very powerful bullish impulse, a long-term correction began, and judging by the fact that the impulse five has already passed in wave-a, which ended at the level of wave-4 triangles, I assume that at least we can count on the ABC zigzag, the ultimate goal for which is the 618th fiba - 8$ for a coin
3 . Looking ahead, I am inclined to believe that there will most likely be a double zigzag WXY for 5 years, and the final goal of the correction wave (2) of the primary wave level is $ 3 per coin. In this case, in the future bull market, SOLANA will not update its ATH of $ 259.90, and we will only see a good pullback in wave-X, and after the bull market ends, the coin will go in search of its next bottom.
It will be possible to speak more specifically about the confirmation or refutation of this wave marking only after wave-b of the first zigzag has passed and the goal in wave-c at level 8 has been achieved.
Why Solana may NEVER update ATH 259.90$ again? - Everything is very simple here, the pulse wave (3) of the primary level may simply not start, and the reasons here will be fundamental - the project will simply be dead and no one else is interested, this is the death of the instrument and many coins are waiting for it, not only SOLANA. If the project is really alive and developing, after such a long bear market, it is likely that we will see the start of wave (3) of the primary level and new price records.
🤑 What is it now? - medium-term:
As I said above, I think that the fall has most likely ended and the growth within 3-6 months to at least $ 60 looks quite real, the maximum in the most optimistic scenario I see $ 90, I think that most likely this level will not be broken at the 1M half, only punctures.
⚠️ And in conclusion, I wish you good luck in making your own deliberate trading decisions and profit ✊ Bye!
Brief explanations:
1️⃣ The pulse five of the secondary wave level ended in November 2021, marking ATH at $259.90, and (1) of the primary wave level is already on my chart there.
2. After a very powerful bullish impulse, a long-term correction began, and judging by the fact that the impulse five has already passed in wave-a, which ended at the level of wave-4 triangles, I assume that at least we can count on the ABC zigzag, the ultimate goal for which is the 618th fiba - 8$ for a coin
3 . Looking ahead, I am inclined to believe that there will most likely be a double zigzag WXY for 5 years, and the final goal of the correction wave (2) of the primary wave level is $ 3 per coin. In this case, in the future bull market, SOLANA will not update its ATH of $ 259.90, and we will only see a good pullback in wave-X, and after the bull market ends, the coin will go in search of its next bottom.
It will be possible to speak more specifically about the confirmation or refutation of this wave marking only after wave-b of the first zigzag has passed and the goal in wave-c at level 8 has been achieved.
Why Solana may NEVER update ATH 259.90$ again? - Everything is very simple here, the pulse wave (3) of the primary level may simply not start, and the reasons here will be fundamental - the project will simply be dead and no one else is interested, this is the death of the instrument and many coins are waiting for it, not only SOLANA. If the project is really alive and developing, after such a long bear market, it is likely that we will see the start of wave (3) of the primary level and new price records.
🤑 What is it now? - medium-term:
As I said above, I think that the fall has most likely ended and the growth within 3-6 months to at least $ 60 looks quite real, the maximum in the most optimistic scenario I see $ 90, I think that most likely this level will not be broken at the 1M half, only punctures.
⚠️ And in conclusion, I wish you good luck in making your own deliberate trading decisions and profit ✊ Bye!
Note
📣 Hello everyone! - There have been important changes in the correctional structure SOLANA, and this trading idea needs updating.
The goal of 8$ was reached on 27/12/2022 without a proper correction to the fall, which was expected in my trading idea, and then by 8$ in 2023.
Well, that's even better!- Who has not stopped and is planted in the long, will be able to break even or even profit. Target 3$ per coin is possible already in 2024, as the downward impulse five hints to us that a classic zigzag will most likely be formed here, which will collapse the price to 786 fibs after the "bull trap"
🤑 What now? - medium-term:
At least a medium-term low of 8$ has already been set and now, in the first half of 2023, I expect a correction to fall to 50-70$, after which a reversal and a downtrend to 3$ within the wave-C from zigzag ABC.
⚠️ And in conclusion, I wish you good luck in making your own deliberate trading decisions and profit ✊ Bye
Note
📣 Hello everyone!💰 Long-term purchases in the zone of 13.3 - 15.6 $ paid off. After the last update on January 20, 2023, a correction began as expected and the medium-term Low was set on June 10 at $12.80, after which growth began.
🚀 In 5 months, the price has increased 4 times, but this is not the limit. As of today, the current extreme for 2023 is the level of $68.20.
⚡️ Logic: What now?
- From December 2022 to today, in my understanding, a correctional trap wave (B) of a potential zigzag (A)(B)(C) is being formed, the completion of which I expect to see in the first quarter of 2024 in the zone of $99-123, median forecast - $110 in December 2023/January 2024
Wave-(B) is an ABC zigzag at the secondary level, where C=1.618*A - After the completion of wave (B), according to the logic I am building, a long-term bearish market should begin in wave (C) of the zigzag (A)(B)(C) intermediate level.
- In the short term, the impulse wave ended at $68.20 or is already close to its logical conclusion.
💡 The idea is as follows:
1) After the completion of the impulse wave - during the correction in the wave at $38-40, you can consider buying up to the resistance zone of $99-123
2) When reversal patterns form in the resistance zone of $99-123, close the long position and consider opening a short position on the SOL coin
❌ Where the stop will be is not yet clear! For independent study as the trend develops!
⚠️ In conclusion, I wish you good luck in making your own informed trading decisions and profits!
Goodbye !
Trade closed: stop reached
The trading idea is outdated and no longer relevant!
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