Foreign [Music] ER just looking at the short term today Um so very nice yeah we reversed as well A bit like Bitcoin and Ethereum out of their support areas that Are defined Um so Solana also has a possible One two setup here which means there is Some short-term upset potential possibly First into the region around 18 dollars Either something I would trade It's a bit too risky because for me There were better charts for example I Expect a similar outcome out of ethereum But it is just a much better chart from My point of view yeah if anybody can Have a different opinion because with Solana this all could very well Um Just zoom out a bit I explained that I Think yesterday Since the low here from the 10th of November 9th of November all of what We're doing it could just be a wave four Yeah that allows for example higher Prices in a in a wave four and a c wave Of four and we could then come down in a Wave five afterwards into the region Around seven dollars that's sort of the The ideal Target if the red count is Correct Um we won't know that until we get Higher anyway so the only reason to
Really tell the difference if we get Five proper waves up as indicated here In sort of you know what color that is Orange yellow one two three four five And then we hold an ABC support make a Higher low then it's most likely not Away five which is going down then we Can talk about a breakout but it's too Early now we can always only trade What's in front of us really so Um but yeah for me also what's currently Coming up here from the low is not too Convincing I think um also here for Example ethereum is outperforming Solana In terms of that because There's just much more coming up and That just doesn't give a good impression For sulana if Solana was seriously Underpriced and If anybody wanted to you know get it at A discount people would come in where Are these people right all it has done Is it's reacted yeah from the low at Around 11 it pushed up to 15 which is Not bad but it's nothing unusual in Crypto It's come down and hit support but the Reaction to my support area which is I Mean anybody who added a long position Here yeah is you know it would be a Profitable trade but it's just not great So I said before I'm not convinced of um This chart obviously there's a lot of Requests but as long as Solana is below
That 88.7 percent flip level that I Mentioned which is 29 be extremely Careful right be extremely careful with Solana I can only repeat that Anyway we hit the 50 of no we hit the What did we did 50 flip level yeah at 12.95 Um what's currently coming up here looks Quite corrective to me it doesn't really Look impulsive so there could very well Be one more like coming don't don't be Surprised because it can use the entire Yellow box in a wave 2 scenario or even If there's just an ABC it can also use The yellow box down to around Um 11.70 only below that price it would Be an indication that actually we go Down straight away and we'll go to those Lower levels around seven dollars Straight away without seeing those Higher prices so that tells you a lot About the possible Stop-loss level we've hit resistance Here a few days ago that is here at Around the 15 level so I can highlight that actually on the Chart so any breakout really into that Region around 18 first would need to Pass the 15 Mark so that's a very Important level so keep an eye on that Level Um already I would believe a break above 1440 here this high would mark Uh you know a sort of possible breakout
But at the moment this does not really Look impulsive to me looks very Corrective not very strong not very much Volume so it looks like we come down Once more before we before we have a Chance to go up unless We now already go earlier About 1440 I mean it doesn't need to Come any lower yeah it's done enough But then again if I look at this this Looks like you know if we have here Let's say we have a wave one up here Then this was an A B this might be a c One two the three is obviously obviously Always long this could be a wave four And yeah one more leg down into this Region maybe around 12 30. Wouldn't be surprised I wouldn't be Surprised okay Um if we look at the flip levels then we Get the next key support actually for That and that would be around 1250 okay So wouldn't be surprised to see the 1250 Before we see a stronger reaction That's my update about Solana 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 and then please check out the Channel membership thanks a lot for Watching bye [Music]