Solana Price News Today – Elliott Wave Price Prediction & Technical Analysis, Price Update!

Solana Price News Today - Elliott Wave Price Prediction & Technical Analysis, Price Update!

Foreign Welcome to another update video about Solana Solana continues to follow here The wave count we've been talking about Now for for a few days Um Or weeks actually Um since you know not weeks but since The 9th of November obviously we talked About this descending triangle here Which eventually then broke to the Downside oops Take that triangle horizontal line here Just to give you an idea and show you Where we actually broke out of this Triangle which was here on the 21st of November Um broke down strongly And retest it from below and it seems Like Solana wants to put another low in Place that would be confirmed if we go Below 11 22 seems like we've got this Wave 4 currently still ongoing maybe Already finished and another fifth wave Down is coming yesterday we talked about A POS possible Target here for the fifth Wave here in yellow and it makes the Impression to me that this Wave 4 peaked Here and then we've got a one two and This is now the third wave of the fifth That's certainly possible Um and if we take a look at possible Targets we take the length of the wave One we could add it to the high of the

Fourth wave and the target gives us the 1.618 extension that's the second target The lower Target actually that would Give us to 10.12 as a target for Um this fifth wave the let's say less Bearish Target is 1089 in the end it Doesn't make a great difference but These are the two main targets for this Fifth wave and we then need to see if we Reach these levels how does the price Actually react to them Um is this something bullish is this Proper note Um is this this is going to come down Straight away from here because overall The target of this larger pattern takes Us actually into the region between 6.38 and 7.61 so that's actually Primarily where I would expect this to Finish this bear Market Um at least from the current point of View And if we however when we hit sorry if We hit any of these support levels if we Only put in a corrective rally in three Waves that will give us a very strong Clue and hint that prices will come down Further so that's why at the moment Where we are in Where it's not all-time low territory But where we're really in very very Difficult in a very difficult Environment we really need to take it Level by level

Um especially with a coin like Solana Which is now more than 50 percent below The 88.7 percent FIB level which was at 30 US dollars so that was not a healthy Move below that level And it needs to recover quickly but at The moment there is no sign and it seems Like that before we do it if we do it if Solana manages to recover because There's never a guarantee I think it Will but um it seems like it's going to Go lower before we get there Um we can Obviously we've got the descending Triangle here which I'm going to I'm Going to reduce the trend line now Um but you can possibly add another Trend line here because we need to know Yeah you need to know at which point is This move down finished Um and this is most likely the case if We break out of this trend channel to The upside okay so put that channel on Your chart and as soon as we see that we Have this five wave move down most Likely finished But then we need to see Is this what's currently coming down Here is this only part Is this only part of A larger five wave structure so do we Say this was wave one we're coming up Into there'll be a three and a four and A five that's actually what I would

Expect based on this higher degree Pattern or and we can never move that Out is this move down already finished Which is always possible when we make a New low entry set account then however After this move down We would have to say that this redwave 5 Was already finished here and then we Would want to take a look at you know do We see any bullish five-way structure to The upside and we can maybe carefully Get a little bit more bullish as soon as We get above the high of the fourth wave Here that would be above around here the Wave e high at 13.90 then we could consider something a Little bit more bullish and consider That a low might be in but I'd be very Careful in the current environment with That so generally the trend is further Down especially as long as we're in the Trend Channel any breakouts to the Upside initially Would be treated as a corrective move up In a larger downtrend key targets here Between 6.40 and 7.60 and short-term Target around 10 US Dollars okay that's My update about Solana hope you liked The update if you did please hit the Like button leave a comment and Subscribe and if you really like the Content then please check out the Channel membership thanks a lot for Watching bye

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