Greetings, this is my first idea of a micro count for the current breakout of Solana.
Be aware it is still early on and the move up might still extend or morph so enjoy with caution.
I assume that the move up is the 1st Wave of an impulsive move up in a bigger Wave 5.
Currently the Wave 2 support is between the 0.382 FIB at 229.11 USD and the 0.786 FIB at 217.99 USD. The Wave 2 Support area will move higher if we get an extension of the blue Wave 1. Noteworthy is that we could retest the trendline of the triangle at around 219 USD.
We preferably don't substantially break below 215 USD.
We hit our first price target at 234.95 USD.
Next potential price targets are:
-> 245 USD (+technical price target of the triangle)
-> 265.9 USD - 268.9 USD
Next thing we are looking for is a corrective move as an ABC.
Thanks for reading.
NO FINANCIAL ADVICE.
Be aware it is still early on and the move up might still extend or morph so enjoy with caution.
I assume that the move up is the 1st Wave of an impulsive move up in a bigger Wave 5.
Currently the Wave 2 support is between the 0.382 FIB at 229.11 USD and the 0.786 FIB at 217.99 USD. The Wave 2 Support area will move higher if we get an extension of the blue Wave 1. Noteworthy is that we could retest the trendline of the triangle at around 219 USD.
We preferably don't substantially break below 215 USD.
We hit our first price target at 234.95 USD.
Next potential price targets are:
-> 245 USD (+technical price target of the triangle)
-> 265.9 USD - 268.9 USD
Next thing we are looking for is a corrective move as an ABC.
Thanks for reading.
NO FINANCIAL ADVICE.
Note
Looks as if we have a Wave 1 Top and the correction is ongoing.Wave 2 support is between the 0.382 FIB at 230.78 USD and the 0.786 FIB at 218.57 USD now.
Noteworthy is that the upper trendline of the triangle is around the same level as the 0.786 FIB.
Note
Still looking for Wave 2 also updated the count, for more information check out my latest publication:
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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.
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.