SOLUSDT Elliott Wave Analysis – Potential ScenariosMEXC:SOLUSDT
📌 Current Wave Structure:
We are currently in an impulsive upward move, which appears to be Wave (3).
The recent pullback can be interpreted as an ABC correction within Wave (4), reaching nearly the 88.7% retracement level.
📌 Potential Scenarios:
1️⃣ Short-Term: Further corrective movement downward (potential Fibonacci retracement of 38-50% for Wave (4)).
2️⃣ Mid-Term: A continuation of the upward move towards the $170-$175 target zone, marking the completion of Wave (5) and possibly the entire larger structure (C).
3️⃣ Long-Term: After Wave (5) concludes, a significant corrective move could follow.
⚠️ Key Levels to Watch:
🔹 Support: $140.30 / $133.45
🔹 Resistance: $146.49 / $170.41
📊 Conclusion:
If the correction plays out within the expected Fibonacci zones, this could present an attractive long setup for Wave (5). However, a larger corrective move might follow afterward.
What are your thoughts? Feel free to share your analysis and opinions! 📉📈
