Long

Solana Wave Count accounting for potential upside towards $200+

Looking for Solana to complete continue towards a top in the major super cycle; looking for a terminal move towards new highs in this 5th wave. Solana found some strength holding 38.2 fib retracement and breaking the downward channel which can lead to a bullish breakout keeping in mind Solana is quite extended a tight stop is advised and risk management. We have a nice support order block formed which we currently sit at, breaking below 150 would invalidate the bullish idea. We can start to see an impulsive count forming towards the upside, in which sub waves are beginning to form. As this is a 5th wave there is a risk of truncation hence; it is important to see how resistance at the black orderblock between $206-$212 performs; however a confluence of fibs at ~$240-$250 could be a likely area we arrive at.

Please like and follow for more
Signature below 👇

NICKVASS10

Also on:

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.