Foreign [Music] Video about Solana Solana can't really Get off the ground here it's just moving Sideways Still in this range here between yeah 14 well you could it's actually between 15 and you know 1280 roughly we've been In this range now for for a while Um not much movement here the wave count Hasn't changed however however however We now broke to the upside of this Channel here so we came again into the Yellow support area that was the idea Ideally I would have liked to see the Wave C go a little bit lower than wave a That's what I mentioned in the previous Videos I think it actually did but really only By a cent or something so that was not Really the ideal Um movement now it basically is a Perfect double bottom you could say Um and yesterday's I guess CPI data did Push it a little bit to the upside I Can't really call this an ABC anymore so If the move down here in this Wave 2 was Really finished to keep it correct it Would need to be a wxy that really Doesn't make a difference here anyway For the wavecon but it would be a wxy Why is that and the reason is because Um It's it's just the substructures yeah so
The wxy includes an ABC and this sub Structure here looks much better in an ABC so a B and then the C wave down that works Out much better then we can say also it Makes sense that the low was in here Because the normal a b c should have Ideally seen another low here you've got Your wave a and five waves the B wave in Three and the C wave in five one two Three four five There would be an explanation why we Started to Rally from here And you know the way how we rally it was Quite strong if you zoom out you don't Really see anything but here it it moved Up quite a bit it didn't break above the Wave X High Resistance that is what I Mentioned in the previous video we need To break Above This high at 14 30. Didn't do it But that would only be the first Indication that Um the lowest in here it would be Important to break above 15 until we go About fifteen dollars this could really Be anything this could still be an Extended corrective corrective wave yeah There's nothing there's nothing telling Me Um that this couldn't be a complex a Wave B wave C wave that could still happen Okay so that's why we need to be careful
We need to wait for for these breakouts At the moment Um because it is really a corrective Sideways um Sideways structure here that could Develop into various things it could Even become some kind of a weird Triangle here which is possible but um For now we could make the careful Assumption because we reversed out of The yellow box again let the wave too Low was in if that was the case what Would that mean for the price if a low Is in here it would mean that in the Next step to confirm that we need to Break above the wave X High the Bulls Need to get above that 1430 level or Let's even call it 1440. in the next Step the 15 level needs to be broken That will be quite strong resistance we Had resistance here here here it's quite An important level the 15 level and then We would move up in the next step to Wave three Target here is around 19 I Showed you that before we can measure That by using the Fibonacci extension Tool we go to the high of the wave one Go to the lower of the wave two when we Come all the way up to the 1.618 Extension around 19 maybe even a little Bit higher yeah Um then there should be a four and a Five that would take us above twenty Dollars most likely would that be
Bullish no it would in my opinion just Be part of an A B C correction in a wave Four which would eventually make one More low in the seven dollar region Maybe even a bit lower Um Maybe it's not part of a way for and Maybe it's already a substantial Breakout but I currently have no Evidence for that so my assumption has To be that we will see one more low Afterwards and I don't even know if we Will see the short term upside Potentially it's not high confidence Because some some cryptos are moving Really nice I mean mainly Bitcoin Ethereum are moving up we had a few Other ones like optimism Um yeah I don't know a few others did Move up quite nicely yesterday as well But Solana just doesn't do much Therefore it's not high confidence the Potential is there but in my opinion it Will only be realized about 15 that is Why I'm pointing out this 15 level and If we cannot push about 15 and if we Lose the channels um the the yellow box Support here at 1180 then this will most Likely take us directly down That's really everything I can tell you About 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]