Foreign [Music] Hello and welcome to another update Video about Solana Solana is still Hovering in a very tight range around The 14 level uh it's getting it's Getting a bit difficult down there for Solana because Solana really needs to Move to the upside now to avoid further Downside Um and there are key levels that need to Be broken that we're going to take a Look at in this video before we do that I would just want to share an Outlook a Longer term outlook for Solana this of Course the condition for this is of Course that Solana recovers which is not Guaranteed to be fair I I think it will I hope it will But as with every altcoin a coin that Drops significantly below that 88.7 Fibonacci retracement which is at around 30 dollars It's just difficult you know um Especially because Solana has dropped Significantly below it and in this bear Market I'm personally not aware of any Coin that dropped significantly below That level that has already recovered Yeah there are a few coins like Quant Which dropped maybe a little bit below It for a few weeks they recovered but Solana has dropped more than 50 percent Below that 88.7 fit level it's just a
Warning it's just a comment that I see This with concern and hopefully Solana Will recover but what everybody needs to Understand is with every altcoin yeah a Lot of altcoins will not recover from This bear Market they just won't Um anybody who's been in this space for For a long time knows that we had the Same situation without coins after the Last bear Market there will be hundreds Of coins that will not recover there Will be a new flush or or a new Army of New and modern and attractive altcoins Emerging for the new Bull Run and old Ones will just be forgotten it is what It is so Please be aware when you invest in any Altcoin that there is no guarantee that These will emerge in the Bull Run that's Why I personally keep my altcoin Exposure low Um I always highlight the risk without Coins and I mainly focus on bitcoin Ethereum at the moment in terms of Investing Ada here and there that's just Because of the more crypto online stake Pool and because I really like the Project And the transparency All the other projects Is just difficult and I buy here and They are sorry I buy here in their Altcoins as well but I keep the exposure Very low and it's just something that
Everybody needs to be aware of because There is enough Moon talk in this space And people rarely talk about the the Other side of things as well yeah Um Okay because I'm all up for transparency And honesty you know and there's no Reason to to promote something right and To to to Hype something if there is just No reason I mean yes you know we have Dropped to a level from if zonana Recovers from here yet we talk about Prices for the next all-time high where We are looking at around again it's it's Depends on how low we really drop but Roughly 440 I mean that is quite Attractive from the current price range Yeah 440 would be the minimum Target but We are not you know it's no guarantee to Get there it needs to recover and an Important price point for Solana to get Above first of all we've got the 30 Level that is the 88.7 FIB level What Solana then needs to do is to break Above This structural high at around 48 And then we have a long way to go and Solana needs to break Above This wave X High it's a bit of a range of resistance Up there between the 50 retracement 133 Dollars 244 I mean when we get above That level I think then we can say with A lot of certainty that the bear Market Low was in and that we can push higher To that 440 level plus until then we
Still have Um risk here for further downside of Course Just has to do with the price structures But um I think if we get about 48 Dollars that is the first very very Strong indication that the bear Market Law has been in there will be Indications before that but you know It's all about How much is such an indication Worth Right so we're always looking for the For the high quality ones here in the Very short term there is not too much Happening yeah we talked about the Situation that the move down here on the 9th of November was probably a wave uh Three we could be in a way four now the Sideways movements basically Um would confirm that Um but in the way for also you know There's different interpretations how a Wave 4 could could play out for example As a triangle pattern a b c d e and we Would break down very shortly Um but it could also be an ABC a b and a C wave with short-term upside potential We are currently in a tight range and we Purely don't know which direction Solana Will break out Um there are two possibilities the first Possibility is outlined here or is is Highlighted on the chart here in in this Sort of is it yellow whatever it is and
It includes the assumption that we're Moving in an A B C pattern and in the C Wave to the upside we've got a wave one Up a wave two down a wave three up four And five that could take us into the 20 Region 19 to 20 dollars before however There is a risk that we make another law To do that we need to break above the 15 Level without doing that nothing's going To happen the 15 level will be a Confirmation that we are in a third wave To the upside And again the target for that is around 19. Um yes we had a five wave move up off The low it could be a wave one Here this could probably still be an Ongoing wave too meaning that Wave 3 Probably hasn't started yet that's how I Sketched it on the chart I mean wave a Down wave B up yeah reason that we are Not in the way I mean you could say Theoretically yeah theoretically because We hit the support area here for the Wave two Wave 2 could be in here it's a Three wave move down ABC done but I don't believe it because the Wave 3 Wasn't impulsive at all if this was a Wave 3 already I'd be massively Disappointed because the Wave 3 needs to Be quite bullish in this case So my idea is that this was an a wave This a b wave and we're now heading down Now or very shortly in a c wave in five
Waves one two three four five you know a Bit like that So you won't see that up make that white So like that yeah it's just an idea how This could play out important is if we Still want to hold Wave 2 support that Would allow Solana to Rally in a Wave 3 With a high probability it needs to hold The 11.80 level that is the 78.6 Fibonacci retracement of wave one below That we are probably in a direct Breakout to the downside into the region Around five to seven dollars And that's where we are you know we Really need that breakout about 15 Dollars We are in a tight range I would argue That either we break out about 15 and Have a chance to Rally into the 19 to 20 Range In a short term uh bullish pattern Short-term bullish yeah we then need to See how the Solana reacts to the next Pullback is it going to be a corrective Move down or an Impulse which will make A new low Or if we break 1180 we are going to come Down straight away most likely to the Five to seven dollar range that tells You a lot about where ideally I would Set my stop loss here Um but yeah it's time to be of its Patient here it is um absolute boring Movement we've been moving in this range
Now well you could argue since the 9th Of November so it is quite boring Um but yeah you could argue we're Getting into Tighter and Tighter range Here you know you could argue this is a Triangle as I said could also be an ABCD Triangle Um we we need to see but those are the Key breakout points that are of Relevance and I gave you the targets Should we break out either side And um the general message is just to be Careful with Solana of course you know Long term if it recovers these are Amazing prices but we have no bottom Signal I have to say that as well and it Won't go to 440 straight away so there's Also no reason to form or really if we Suddenly go up to 17 or 18 and someone Missed an entry here because it won't go To 440 in a straight line be be aware of That as well okay and that's my update About Solana I 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 [Music] Thank you