Foreign Update so we take a look at the Sudan Chart which is basically not moving at All but whenever you have a coin that is Really moving you know in a very very Tight range then be ready for some kind Of an explosive movement very very Shortly I mean that could carry on for Another few days until we get the CPI Data Um Plus the interest rate decision I think It is on the 14th that fed interest rate Decision and then we could get some Really really volatile movement Um here on the Solana chart but Generally across crypto I think next Week could be a really explosive week Um my view is still that you know higher Level sometimes I get the question you Know why do I never review the weekly or The daily chart but to be honest nothing Is changing right I do this from time to Time but I can't repeat myself in every Video because this just doesn't change You know these scenarios they stand and They don't change until Um well there is no change there is no Alternative here there is a wave one up And the wave two down and it now very Simply has to recover from here or it Will purely just fail yeah so the Downside potential is very limited but It can of course it could
Could go to zero like many other Altcoins could do as well It is not my primary expectation that it Will go to zero but we have to be very Honest you know very honest and Um if we draw the fips you can see that Um Solana the price did drop Significantly below the 88.7 percent Flip level that is actually actually at Um thirty dollars here And we have 50 more than 50 percent Below that level that is not good for a Coin I did mention that before this is The place where coins go to if they want To die Um now There's of course never guarantee as you Know in the last bear Market we had a Lot of coins going below that level but Then also we had yes we had a lot of Coins a lot of coins that did recover But also a lot of coins that died so it Just increases the risk to go below that Level and the fact that uh that level is So relevant is just proven by the chart I mean look we came down here already in June we've been dancing on this level Just the level which is basically just In in just hanging around there it's It's not a relevant support area really But we touched it here we touched it Here yeah we touched it exactly I mean Exactly here and here and here and here It's a relevant area and um so it's a
Highly relevant fit level it's the last Level on the FIP letter and the drop Below that wasn't good for Solana in the Last video I told you that If Solana recovers it has a chance to Rally in a third wave into the region Into the region of around 440 dollars Yeah and I had a few messages saying you Know Solana is never going to recover It's a scam coin now I can't I can't judge if this is a scam card I Don't think it is yeah of course there Are certain relations to FTX but um I don't think they are directly uh you Know sort of involved there so you know You always be careful with those Accusations Um but you know of course there is no Guarantee it will recover this is purely A price target for the purpose Um to make you aware what we can reach In the next Bull Run if Solana recovers And if Solana makes a new all-time high These are the price Targets this is not A Target where I'm gonna tell you it Will definitely be reached Because all none of us knows Which altcoin is gonna make it in the Next Bull Run as in every Bull Run there Will be new attractive coins coming out Yeah some of the older coins will not Make it and the probability that a coin Is gonna make it increases if it holds
Above the 88.7 flip level here Solana Dropped way below it so that just is Just risky right just it will just be Aware of it so I'd be very careful here With um dollar cost averaging swing Trading if you want to do it Feel free to do it but we are in a Region where things are getting Difficult okay the situation on the Lower waves here on the lower degree Waves is pretty much unchanged because We continue to move sideways here in This triangle as suggested in the last Videos that we could hover here sideways For a few days we're getting into the Apex we're not in the Apex yet so There's no real reason for it to break Out But be ready it could break out at any Moment now Um because oops did I move that wave Because Um we're getting squeezed and squeezed More and more right and whenever that's The case you will usually get some kind Of an impulsive move Now There is still the chance that we go Lower here so we've got obviously Short-term upside potential yeah we've Got this five-way structure to the Upside that's possible This is only possible because we moved Up from the 21st 22nd of November low we
Moved up in five waves and we did come Down in three here we moved up in three Here so it could be an A B and now the C Wave to the downside is very much Possible so I wouldn't be surprised About the breakout to the downside here In a c wave however to still allow four Away three to the upside with a decent Probability we need to hold the um 11.80 Level that is the 78.6 retracement any Drop below that Will increase the risk massively of a Direct breakout to the downside into the Seven dollar region or even below but Short-term upside possible as long as We're holding 11.80 either going down First and then go up or if we break out Of the triangle to the upside take out The first resistance which is at 14.30 The B wave high and take out 15 the more Relevant resistance area then we can Really in a way three to the 19 region And could even climb higher in wave four And five however this is then the next Decision point because this could very Well be just a wave four which would Eventually result in another low so this Is still highly highly probable Um it is only if in this last move down We're holding critical support which is A support level I'm going to Define for You at a later stage as soon as I can Because I can't do it yet because we Haven't rallied enough to the upside but
Then we can Define the support level and We can say if we hold a certain support Here then yeah then maybe or with the High probability the load was already in Here on the 22nd of November until then My assumption will be we will come down And make another low so I'm not very Bullish on Solana short-term upset Possible but really only if we break Above the 15 US dollar level that is Highly relevant and at the moment these Triangles always represent Um uncertainty uncertainty in decision So we need to Market we need to let the Market decide here but it's important to Understand if you want to trade this What are the key pivot Points what are The decision points in my opinion this Could really come down in a c wave if You ask me that would actually be my Primary expectation that we will make Another C wave down because they move up So far at least does not show impulsive Potential it just rather looks Corrective and it could very well just Be a b wave but again if we break out About 15 then it's most likely gonna go Up 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