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

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Solana Price News Today – Elliott Wave Price Prediction & Technical Analysis! In this video I talk about a technical analysis of the Solana SOL price and I talk about some important price moves that are happening right now!

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Hello and welcome to another update video about Solana um after my last video Solana indeed did break out in the video earlier today we took a look at it again and highlighted here the potential of um a bull flang okay and I showed you also this ascending trend line or talked

About it uh this ascending trend line did lead um to a bounce of the price and um we had a direct breakout higher from this bullish flag at the moment we can literally just go with the trend you know and you know we go with the flow

And uh I can tell you a few of the next targets then my next targets have been reached already so now it’s a matter of okay let’s recalibrate and check if the price already shows signals of exhaustion has any support level broken because only if a support level has

Broken we can confirm a top in place some sorts of a top um or a top a top of sorts you could say um what kind of top it is how meaningful it’s going to be well see that will be determined along the way as we get more price structure

But in this video I want to talk about very specifically what give you very clear levels about what to look out for what are the significant support levels what are the micro support levels and also what are the next targets to the upside and help you understand a little

Bit better the overall price structure on this chart so I’m quite happy so far we haven’t confirmed the top in place at all we are simply taking an approach that we’re basically babysitting this chart at the moment I believe that is necessary because the chart is very Dynamic there’s liter really not much

Time to take a breather here it’s simply just going and therefore the approach that we have taken um in the recent weeks was just to highlight the support levels right we had one here I had others along the way I can take this one out now by the way it’s not relevant

Anymore but it was a potential pullback entry point for higher prices um currently still looking at this as an extension of the overall third wave on the chart I explained to you in the previous video that third waves always extend in crypto well I shouldn’t say always they don’t always extend but in

Most cases especially in a bull bullish Market environment in most cases third waves extend in all markets yeah but in crypto these extensions are absolutely ridiculous so that’s just something that you have to plan for when you’re trading crypto that is why specifically from a strategic point of view I’ve been

Mentioning it throughout the bare market and I still mention it from time to time it it is so useful to have a core position in the crypto that you like okay a core position not the short-term trading position a COR position that you might want to hold until we reach you

Know alltime High territory or get there or take some profits along the way but a core position that you’re not easily inclined to sell um only a couple of weeks ago or was it three weeks ago when we made the member live stream about altcoin season um I specifically

Mentioned that again make sure that you know I mentioned it three weeks ago now is the time to think about and to to create if you haven’t done it yet to create your portfolio For an upcoming out season never a guarantee it shows but I think it’s around the corner and I

Mean we might be in it already we just quite sure yet because it’s not the signals are not very clear yet but I mean we you know we’re heading there and um definitely the alts are currently outperforming Bitcoin we are in that kind of market right now and those

Extensions you know you cannot predict where exactly that rally will end we can only take it level by level and I can always give you the relevant support levels that we need to observe to indicate okay to to to understand how long the trend is going to be up for

Because when those support levels break well that will definit well it will not give you definitely the answer a lot of people are always watching for the answer it will not give you the answer that a top is in place but it will make trading on the long side incredibly risk

Or much more risky and that is already very valuable input so it’s always cascading probability so first of all further extensions happened we’ve reached the next targets I gave you two Targets in the previous video $19.50 and $125 60 both have been reached now if we now don’t break below the $18 level

Further extensions have to be expected I want to see a break below the last swing low actually today low to confirm that a top of source has been made and that would need to be that $18 level it needs to break for me to confirm on a micro

Level that some kind of a top has been made if that level doesn’t even break I expect us to to still extend further within the yellow wave count here think we are in a fifth wave that seems to extend further um we could already or we

Could be in the third uh in the third wave in the white count but that doesn’t matter it’s there literally no difference right now from a support point of view what I will do is adjust the significant support zone so this is the first significant support level at

$898 basically what I’m saying here is in very simple it should be very simple okay as long as today’s low is holding the focus can be on higher price that gives you a lot of information for your trading key level we can we need to have

Key levels in trading so that key level can be used to focus on higher prices what are the next targets $134 79 that’s the next FIP level there’s nothing in between and then $147 47 um first of all we’ve got the trend line here as well okay that might be an

Early warning of that breaks but not not enough for me I want to see that swing low taken out to confirm that probably at least here a local top is made then we could come down in wave four yeah in the white count which allows for one

More extension Higher One More let’s say significant extension but if we break below $898 I have to assume that the entire third wave finished and then we come down in a wave four and then we can again we have to redefine this support area as well as the price climbs higher

It’s now slightly moved higher so you see you know that could then mean price will dip only to 7934 even though I would prefer it to get to the 38.2 FIB level at 5941 or at to the 50% FIB level at 4 $7 so basically further extensions directly have to be expected watching

The intraday low that’s the key level against we can still focus on higher very short term if that level is taken out it’s not necessarily bearish but it might mean that the White Wave four which is a corrective structure has started to unfold and the levels are

Very clear and against those levels then one more high would still be expected or at least one more high in wave five in white um once we have a low in wave four in place I can Al give you a Target fourway five now it’s a bit too

Premature because we might not even have a top in place here in this move up okay so I gave you the key targets gave you key support levels told you the levels to watch should give you everything you need for now trend is clearly up uh obviously the market is overheated but

It doesn’t matter so much overboard levels don’t really matter so much in crypto very important oversold does over overboard not really so yeah hope you like the update if you did please hit like button leave a comment and subscribe and if you really like the content then please check out the

Channel membership also make sure that you follow us on Instagram and Twitter for additional content thanks a lot for watching [Applause] bye-bye