Foreign [Music] Welcome to another update video about Solana so it's really hard these days to Update some of these charts because they Are literally not moving a cardano is Another one Solana is one here the view Generally remains you know that this was Wave one here in in November 21 we've Come down a long way in a wave two in a Wxy correction we know in this y wave in The Y wave we've got our ABC we're in The C wave And there's the wave is a five wave move So you know we we could we are at the Stage where A bear Market low could have been made But I can't have any confidence in it at The moment yeah you can see if I draw The fips of this larger cycle You see that the 88.7 tip level is this 30 level Any sustained drop below this level it's Never good for a coin and I don't really Have any confidence in this one as long As we stay below that 88.7 FIB level Especially if we stay below it And we're not really moving at the same Time you know Solana hasn't really done Much so it is really hard to update you Know because I'm just repeating myself Um and without a signal I can't I also Can't tell you anything else right We need a signal but
But but so it is possible that this wave Four of this last wave down this wave Four And this way five Was already done so that this presented Printed the end of the bear Market here At around 10.90 However to get more confidence in it and That we can move on in this yellow wave Count here I want to see a break above the 15 US Dollar level as long as we stay below That level I don't have any confidence in it Because we're just moving sideways and To be honest you know I did say to you This could be a one-two setup right This Wave 2 doesn't really look finished Yet I mean it could be finished but we Haven't really seen any normally when You when you finish off a wave 2 you Have an ABC or whatever You would expect an impulsive move Afterwards now we haven't really seen an Impulsive move here of the low looks Very corrective And suggests that maybe we've just had Here a wave a this was a wave B and We're now coming down once more in a Wave C this Wave 2 support area Is located between the 78.6 flip level And the 50 so between 13 basically and 1182 Going into it I wouldn't be surprised
Dropping below it I wouldn't be Surprised because it's just a weak chart At the moment Um However as long as we hold above 1182 we Could focus on higher here but to get More confidence in this Wave 3 we need To break above 15 so it Remains the 1182 Level remains a very very important Level here Um as long as we hold above that level We can expect the Wave 3 to the upside It just might not be ready yet it just Might not be ready and we might need one More dip into this area and then can go Up Um The signal remains here the 1580 no Sorry the 15 level Also if we say maybe the low wasn't in Yet and we will go lower and I told you Before that an ideal Target for the last Wave down to end the bear market for Solana would be around the seven dollar Level Seven dollar range It could be that this was only a way Three this was then an ABC yeah and that Is all of they see it's just a wave a Wave um sorry a wave four like the Bitcoin chart a b c and that this five Wave move is part of a c wave So Again also here it wouldn't make any
Difference short term Because it could go up short term but I Need to see that break of 15 and we need To hold the 11.80 level that's really as Much as you know we we can analyze into This there is little volume it's just Moving sideways we're in a clearly Defined range between 15 and yeah you Could say here between 15 and 1240 brow Broadly yeah Um because we touched this level twice Okay here we broke it but or you could Say between 1090 and 15 but it's a range We need to break out of a range to get a Signal that things are moving and Target To the upside yeah four away three we Can do that as well It all depends on how low we eventually Go in this wave too let's say we come Down to that 1180 level maybe then a Target for a third wave to the upside Would be 1836 And target for a fifth wave here would Be 22.46 and then the retracement after That five wave move up so provided we Get about fifteen dollars the Retracement will tell us a lot about in Which overall wave pattern we are so Yeah honestly I think we just need a bit More patience here Still hopefully I like 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
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