Foreign [Music] Welcome to another update video about Solana we can see that Solana broke out Of a triangle to the upside earlier Today Um it could very well be that we're just Moving here in an A B C pattern the Reason is that a b wave can be a Triangle so if this is the case and the Triangle broke to the upside then it is Very likely this was just a b wave and We're going to move up in C This would be confirmed as soon as we Break above 14 96 yeah the 14 or 15 dollars so if we Break above 15 It would decrease the probability that Is some kind of a different pattern Because I mean let's be honest it could Very well be it could very well be this Wave 2 that's unfolding that you can see Here yeah this is the other option Um and we could be in this Wave 2 at the Moment In this Wave 2 we've got Possibility contest as an a wave a wave B up And the wave C down but if we break Above 15 it will make it very unlikely That this is still a b wave in blue so I'm currently looking really at this Here A to the upside B down C to the Upside and this would make it quite
Likely that we're just in a corrective Move to the upside Which would then result possibly in Another low but short-term upside Possible I've been stressing that now For a while also with Bitcoin and Ethereum and a lot of coins are Currently or not well a few coins are Currently at their breakout Point Including Solana so if we zoom in You can see very clearly what an Important breakout point is is 15 if we Break Above This level Let's just calculate the target So we take the height of that A wave or wave one Go to the low and the Target first Target would be around the 18 Mark the One to one ratio and the second target Would be the 1.618 FIB extension at Twenty dollars and 30 cents but Generally if we zoom out we can see that Um this could very well just be a Corrective move to the upside yeah so Short term upside absolutely possible But it doesn't mean we get back into a Bull run yet yeah in fact the general Generally in the space Um there is still too much uncertainty I Think and if we take a look at the FIP Levels here from the most recent high so Let me draw the fips one second here to The low of the third wave Then we can see that this here could
Still be a way for all of this yeah with The Wave A to the upside and well Overshooting with B basically to around 10.80 and this would be a c wave to the Upside now and that can unfold in five Waves So it can very well go up short term no Problem while we need to understand that It could very well still make another Low afterwards so unless it goes above The 50 retracement Which is here 2567 my view will still be That we are heading lower Um generally as I said as well before This coin is currently below its 88.7 Percent FIB level of the larger cycle That level is at 29 dollars any coin Below that level Well is a bit at risk right not Necessarily that it will die but it's Certainly at risk and minimum Requirement to get more bullish would Also be to reclaim that level there's Actually a 29 US dollars of course Short-term upside always possible but It is not Um a sign yet That we get back into a more substantial Uptrend this is just in my opinion Short-term upside at the moment that Could get to maybe 20 maybe 25 dollars And only if we really get above 25 then We can take it more seriously and above 29 we could argue that the law might be
In okay and that's my update about Solana I hope you like 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 [Music] Thank you