Long

#SOL Elliott wave 5 scenario

Updated

In the daily time, according to the short-term analysis mentioned in the previous post, it had a complex double correction, which ended after the completion of the 4th wave of the corrective erosion after the break of $87.5, and the current wave will be the 5th wave of this cycle, which can reach at least 100%. The range of the previous ceiling should continue to grow, and if it continues, it should be as long as wave 3. According to the current momentum, we should probably face a long upward wave, which I will update in the future.
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Scalp...
High Risk...

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Free risk in the range of the red box...

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Movement behavior in a corner pattern ready to break and run upwards to stabilize above $100 for a target of $125

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As expected, escape from the corner of congestion. Consolidation above $100 will make the next target available.

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It is located in an important area, if this area is not broken, it will be corrected up to the range of $97, which, if confirmed, you can save profit. If it breaks, it will have the ability to move up to the $103 range.

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According to the type of structure, we are currently in wave 4 of 3, which can correct up to the range of $98 to $99 and then start wave 5 of 3. Therefore, the suggestion is to save profit at the current point or to trail the profit limit.

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Formation of divergence in resistance

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It grew by 16% from the entry point until now and became a full target. Due to the failure of the supply area, it will continue to have the ability to grow up to $112.5 and then the range of $115 to $118.

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To continue the path, the resistance barrier in front must be broken. Therefore, in case of failure and pullback, the area and the next target will be available.

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With the support of $106, it should break the supply zone for the target of $112.5 and then the next supply zone.

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According to the presented analysis, the resistance level was broken and the target was touched at 112.5. Now, with the support of the 112.5 range, it will be able to reach the next target of the supply area.

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The next target was Solana Touch currency. Please share your opinions and views with us and support us if this post is useful for you. Thank you.

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According to the Dominance Tether post (USDT.D) and current market conditions, do not buy until Solana is above 112.5. Save profit for now (there is a possibility of breaking into the $100 zone). If it is above 112.5 and stabilizes, the post will be updated again.

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Do not close above 110 candles. It will have downside targets of $106 and $103.

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As expected, correction occurred in the market and Solana's movement path.

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With the support of the region, it will have the ability to grow to the $110 range.

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A great reaction and breaking the neckline with a high-pressure candle and retesting the resistance.
Breakout of the area = continuation to $112.5.
Traders, please give your opinion...

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It can break the resistance. Candle previously raised liquidity after a pullback to support.

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Great. The target was touched.
Tell me what you think, traders

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It returned 100% of the previous wave. Now, this process can continue in the specified area with support.

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Excellent movement and reaction to the first resistance.

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In the supply area, with the inability to break the recent correction range, it is associated with a 3-wave structure that does not have a falling shape. So this correction can only be to raise liquidity in the region of $100. Of course, this wave can continue even up to 94 dollars.
But it should not be fixed below 100 dollars. So this correction is only to collect liquidity and pull back to the broken structure for the $175 target.
In addition, considering that the correction of wave 2 was temporary, this correction wave should be done faster and sharper, and then the next step is to climb.
If the behavior and structure of the post changes, it will be updated.

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We have to wait for this area to be preserved. A higher or lower insole is suitable for up to $94. In case of floor construction, we will expect completion and continuation of the route.

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After the support range of the green box. Now it has to break the $107 range to touch 112.5 again. until this pullback is confirmed.

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It retested the indicated range of 107 dollars and is currently in the density to break the 107 range to retest the supply area again.

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This wave 3 correction is currently in the $100 area and has reversed the previous wave of 1.272 so far. If $100 is broken, 1.618 should probably touch the 94.45 range. But before that it has an important PRZ in the $97 range. However, the loss of the $100 range will have a short-term correction.

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The supply target is $107 and then $111.

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According to the analysis presented. The second goal was also touched. The next target is $111.
See the analysis related to Dominance Tether and Total 3.

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It is moving according to the route map. The target was also touched at $111. Now, in order to reach the 100 Fibo target of 126.50, $113 should be broken. Therefore, I expect the touch supply area to be activated first, and then the pullback to 113 and the stabilization of the above targets of 126.5 and 135.70.

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According to the analysis presented, after the failure of the zone and pullback to 113, the supply managed to reach the zone, which, with its failure, has approached 100% of the Fibo of the previous wave. According to the behavior and structure in the microwaves, there is an ascending wave 5 that has not yet been completed, which will touch the next target with the failure of 100 fibo.
Further updates will be provided regarding behavior and structure.

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The first target was touched.
Currently, in wave 4, there is a correction from wave 3, after which this extension should continue until the supply area and 1.618 of the previous wave.

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Therefore, according to this structure, the 5th rising wave, a little higher than the previous 3rd wave, has been able to grow or develop. It means that a three-wave structure has moved up for now. If this correction is an X-wave, it can continue in the form of another three-wave. If this wave does not touch the level of wave 4, it will be valid. Result: above $125 target will be available and this correction is a corrective X-wave and then we should see a continuing movement structure.

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According to the analysis, it is on the target path. Therefore, I expect it to touch higher targets with a three-wave movement, which will be updated if needed.

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Long Position...

Trade closed: target reached

FULL TP

Trade closed: target reached

According to the presented analysis, it has grown more than 103% in 39 days and reached the Fibo target of 1.618. If the post was useful for you, support it with like and comment.

alikze

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