Foreign [Music] Welcome to another update video about Solana Um We haven't really seen a lot of movement Since the last video so it will be only A very very short update Um I think we still have a chance here That this is a one-two setup the problem Is that I don't think the Wave 2 is over Yet if it is a wave two Um the reason is that this movement up Does not convince me I mean we currently Have a rally by Bitcoin and ethereum so Lana doesn't really do much and it just And it just adds to my view that um Solana is not yet really in a position To To run or Rally or to be in a bullish Position right this is of course a Potential something that I'm purely Observing not something that I am Watching out for as a primary Expectation I mean it could very well Reveal some short-term upside potential Yeah but be aware that Bitcoin and Ethereum did run already They can run a bit more but at some Point they will be exhausted they will Come down And while they are moving up Solana Isn't doing anything So would that be the same when they come
Down or will Solana be sold off as well And that could then lead to this Additional low that I'm waiting for Talked about that in the previous video That I'm actually waiting for one more Low here for Solana Um there is a potential here as shown For short-term upside but for the yellow Wave count here to play out in five Waves so I would basically if this works Out first of all see it purely as an A B C pattern and the C wave is a five wave Move here And this would all be part of this Fourth wave and I did tell you before That Um all the way up to around 25 dollars All of this could just be a way for So it's really only above that level That we can consider something more Bullish but short-term upside is Possible my opinion is that this would Become Um realized this short-term upset Potential if we break above 15 but we Are far away still from the 15 level we Are at 1384 at the moment the price Doesn't really move much the way this Looks like at the moment is really Corrective so it rather looks like we Had an Impulse down correction up and it Would be followed by another impulse Down Um so yeah just be aware of that I mean
So far it has worked out in terms of it Has come back into my support area here Next decision point but I can tell you Straight away that at the moment at Least while I record this video this Move up looks corrective and as long as We stay below 15 I'd be looking at new Lows and of course you know this doesn't Need to be short-term upset potential I Was quite certain on bitcoin and Ethereum here I'm less that is going to Work out Um It could very well be that this way for You know this way for Um is already finished here and we will Come down straight away all the way Forwards finished here It's all possible and we come down Straight away so my view is short-term Upside yes if we break above 15 then I Would just see this as an uptrend in a Larger correction but if we break below The yellow support box here and we'll Get below 11.80 I think we're going to Come down straight away and the target Area continues to be between 640 and 7 60. okay and that's my update about uh 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 then please check out The channel membership thanks a lot for Watching bye
[Music] Thank you