Solana Price News Today – Elliott Wave Price Prediction & Technical Analysis, Price Update!

Solana Price News Today - Elliott Wave Price Prediction & Technical Analysis, Price Update!

Foreign [Music] Hello and welcome to another update Video about Solana Solana dropped out of This triangle to the downside yeah we Talked about that in the last video that Due to the lack of impulsive price Action to the upside the White Wave Count which was already detailed out on The chart could be a play here signal For that was the breakout of the Triangle to the downside and um while There are different interpretations I Mean I could even label the entire Triangle as a wave B you know this is Possible as well Um Just thinking but it's it's not it's It's more challenging because this Basically was a little bit too high here Um so I'm rather going With this ABC and then here the Impulsive price action to the downside Or well at least Um At least as a diagonal pattern yeah to The downside that we moved down in Um In a diagonal here yeah this is not Entirely clear yet but the thing is that It looks like we're gonna get a lower Wave C Of two And now it's all about we talked about

That in the previous video it's all About the need to hold the yellow Support if we still want to use here or If Solana Still wants to use the short-term upside Potential Which is certainly there you know we Moved up in five waves off the 22nd or 21st of November low we peaked here Around 15 we then came down in three Waves which I think is only a wave a we Then moved up in three ways which I Think is a way of being but we could now Move down in in five waves which is a Wave C so we've got an ABC pattern a Wave 2 and we are still in the support Area so there's no reason to get more Bearish here but it um It ideally makes a new low now below the A wave that is sort of the most likely Outcome what you normally get in an ABC Pattern that the C wave is below the low Of the a wave that would be at 1280 if We get below 1280 then we've got a lower Wave C and we can prepare for rally to The upside as long as we're holding and That's the condition as long as we're Holding the 11.80 level that is an Important level A lot of you will know because it is the 78.6 FIB level here I haven't drawn the Fips accurately but it's 1180 so um the 78.6 flip level a drop below that would Make a rally in a third wave very very

Unlikely okay so the moment it looks Like we've done the wave one we've done The wave two we're now in the third wave This should be a fourth at some point And the fifth wave down that would be Ideal Um And then this is the decision Point yeah This is the decision point Should we already turn around earlier Then I think the very first signal that Things are changing and we are heading Back to the upside would be a break Above the B wave high at 14 and 38 and Then a break above the 15 level these Are the two key breakout points we Already discussed in previous videos Um this is the signal for me to Well to give us an indication that Wave 3 has started it's a break above the 15 US dollar level above the wave one high If we get above that level Wave 3 is Probably ongoing I mean the point is that we need to wait For this correction to finish in an Ideal World we go a little bit lower in Wave c yeah maybe all the way down to 1180 but then we turn around four away Three again should we break above 15 Earlier it will already signal the start Of Wave 3 a little bit earlier than Expected that is the breakout Point Um Conversely if we lose support and drop

Below 1180 then I think we are looking At quite a strong decline I mean the First instance we will retest the 11 Level yeah this swing actually 1090 this Low from the 22nd of November and then We could come down into the seven dollar Region generally I'm not very bullish on Solana there is short-term upside Potential as already indicated Um that could take us into the 1920 Region maybe even a little bit higher But at the moment my view is that this Is only part of a corrective wave 4. now The concern that we can or that I Already expressed in previous videos is That Solana even though Bitcoin and Ethereum did perform fairly well over The last week or so yeah that Solana Didn't really do it the only five wave Structure we had so far was this move Off the low um you know of the 21st of November Um it failed to create any impulses Afterwards that is a sign of weakness so I mean this short-term upset potential Is not guaranteed I'm very skeptical About it Um and it is only really uh starting or We can really only assume it started if We break above the 15 US dollar level Until then It's difficult you know because we've Dropped way below that 88.7 FIP level That I mentioned that was at um thirty

Dollars yeah we've dropped way below it And it just indicates the weakness of Solana so I'm not doing anything with Solana um I'm extremely careful here But um if you want to trade this I mean You know the support areas now You know the invalidation points um the Key resistance so um you're prepared but My view is that I'm very careful with Solana because we dropped so much below That 88.7 flip level and let's say Bitcoin in ethereum because there's no I Mean there is short-term upset potential On bitcoin and ethereum Charles as well But let's say they don't use it they Come down and then Solana doesn't have Any buffer and it might go straight away To lower lows and I mean Hollow doesn't Really want to go right Um There is not not much more downside Potential before going to zero really You know Um next key support in that area around Seven dollars and then we've got some More support around the four to five Dollar mark But then there is nothing Left really okay we'll see Um I hope you like the update about Solana 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

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