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 Solana is currently still in the orange micro support area defined between $898 and $17.60 pretty much that’s our Microsoft support area that would enable the price um to form one more extension higher in the White Wave count um I mentioned it

Yesterday I think in quite a lot of detail so don’t want to discuss it in too much detail today but for everybody who’s new on the channel um this is basically on the Larter time frame the wave count and scenario and road map for Solana the idea is that Solana either

Completed wave three or there might be just one more High then we should get a wave four correction into to this support Zone that is still not very much fixed uh if we get one more extension then this support Zone will also move higher with the price a little bit just

Has to do with a situation that um these Fibonacci levels they always have to be adjusted with the price because they’re measured in percentages and they are the retracements of the preceding move so if the preceding move extends obviously these support zones have to extend as well in this current um scenario this

Wave four would probably reach the area between $79.47 yes again you know it will have to be adjusted if the price forms one more high in wave three we’re going to talk about that on the hourly time frame but the road map suggests one more high

In wave five yeah so this is my base case so someone asked me uh why not go all in if this is the scenario well you know if you want to go all in now and um the price drops to 47 well from a psychological point of view this just

This just not only psychological I mean this wipes out your portfolio right or not maybe not completely but even if it even if the price draws down to $47 that’s a significant decline of your portfolio so always bear in mind position sizing really makes the difference here it’s not so much the

Analysis itself yeah it gives you the levers and the road map but it’s the position sizing that is really key and also there are never guarantees okay this is a scenario everything’s probabilistic of course that I I assume people understand that this is not a guarantee it’s probabilistic otherwise

We wouldn’t need a support area because the support area tells us when the scenario is breaking below $47 so the idea is you can position yourselves against these levels measure your risk and stuff like that um but yeah first of all we need to understand has this wave

F uh four already begun and the wave five obviously will only happen afterwards so has the wave four already begun that’s the main question that we’re dealing with on this chart at the moment so that question can really only be answered on the one hour chart and obviously there’s never a definite answer

But there are again levels to watch on the smaller time frames so to to just make it very clear we’ve got one scenario on the 4H hour or daily time frame frame at the moment yeah there will be others as well but we don’t need even need to deal with them until the

Price um is in the larger degree wave for support area looking at the smaller time frame it is possible in one scenario which is the shortterm bearish one that wave three already finished here around the 25th of December that wave four has already started that’s the short-term bearish scenario in this wave

Four then in this pullback the price is likely forming a combined or nested one two setup so a five wave move to the downside and within it and I’ll change that to Yellow this is still the scenario I showed you yesterday that’s still very much valid but it doesn’t give us much

You know the price doesn’t or the structure doesn’t give us many Clues um about if this is really what’s going on so basically five waves down would unfold here according to this scenario and we have a um we have a one two setup already you know and then another

Smaller degree one two basically for the five waves in circle Wave 3 inv validation point for this particular scenario would be $115.50 $15.60 so if the price breaks above the Wednesday high that would reduce the likelihood of the yellow scenario at the moment the price is holding support I am

Leaning towards the white structure so one more extension is possible but obviously not guaranteed and if you consider the bigger picture the highest likelihood part of this rally in a wave three has already been done because we’ve already reached ideal targets we’ve even reached extended targets the

Last Target I gave you was $125 60 and the price perfectly reacted to it so you know there’s not a guarantee to go higher anyway in this third wave uh I would still expect it in the fifth wave later um if conditions remain favorable but for now again the question is okay

Do we get that extension from here and the answer has to be well it’s a reasonable expectation I’m leaning towards it as long as the $89 80 level is holding so that’s the micro support level that really needs to hold to keep the Outlook of one more extension in

Wave three alive but after that then I would expect the wave four to start okay um unfortunately the lower time frame structure doesn’t give us many clues about what this is very much possible that we see one more low to $93 or 8980 but then a break below that would

Suggest okay this is the larger degree Wave 4 um at least from what I can see right now and as I said a break above $115 and 50 would further confirm the wi wave count yeah and then we’ve got targets for this extended third wave at around $134 80 and $147 and

47 that’s my update 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 also make sure that you follow us on Instagram and Twitter

For additional content thanks a lot for watching bye-bye [Applause] I