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 continues to move in this sideways pattern here um just a quick um a quick overview here we’re still in this situation in which it’s not entirely clear if the Third wave is already finished and the fourth wave has already started um another high

In a fifth wave would still be expected okay um or where the third wave is actually still unfolding so that’s still the question we still like to see another high because I think it would look better but as I mentioned in the last video If this move um on the

Smaller time frame here this correction gets too far stretched out also TimeWise it will not have the right look anymore for one more high and really it’s about time for it to get moving so so few things we can do we can add a trend line

Here that might um you know provide some additional support obviously there are a few touch points there I just added to indicate where the price could find support should it continue to decline um but really if a move higher in you know there are there are different structures here in both scenarios short-term

Bullish and short-term bearish where a bounce should really start from here somewhere and if a bounce starts from here then this would be I mean this is the ideal region for it okay so let me explain again short-term bearish scenario indicates the third wave has obviously topped this top that formed

Around the 25th of December and now we’re coming down in the yellow count I explained that in yesterday’s video in very much detail ABC to the downside to form the first a wve then we could now be looking at a B wve be aware that when

The a wve is a three-wave move move the b-wave could even technically overshoot so we always have to be prepared brace ourselves for an aggressive b-wave but there’s only limited evidence that it has started I mean there’s some green candles that’s that’s all haven’t even broken above a recent High I’m going to

Zoom in in a minute and then we should get our seawave down short-term bearish scenario in the short-term bullish scenario um we would still like to see another High um to be fair it will be probably difficult if I look at it it will be difficult to distinguish between

The white count and the yellow one if the yellow one is an overshooting B wave do you know what I mean because in the white count this is an ending diagonal and we’re looking at an ABC structure here in the wave five or three so if

It’s um if it’s a high B wave which would also be an ABC pattern or the wave three in white it’s actually not really different okay yeah it’s difficult I don’t know how we we’re going to handle that but it doesn’t really matter because after um this top anyway a

Decline would be um forecasted in wave C right the the thing that challenge will be that if it’s a high B wve I don’t need to increase the height of the support area if it’s actually a third wave top which goes higher I will have to measure the or remeasure or replace

Basically or reposition should say um the support area because because it’s measured against the high of the previous wave but if it’s a b-wave because it’s already part of the Wave 4 I don’t need to do it but you know that’s just the detailed stuff don’t

Need to worry about that now so first of all let’s see if we get a run to the upside anyway first of all when a move to the upside starts and you know ideally it starts from here I mean we are now in support we are um in

Fibonacci support okay so if we measure the fibs of the last rally here that we had we are now in the support range key fibon support range for such a pullback and from here it would be the ideal spot to start I mean if not from here and if

We see a break below $91 the 78.6 retrace of this small rally that ended on Thursday then probably the trend line will be tested but if a move from here starts then we are looking at the descending trend line as next structural resistance a break above it could take

It to well these next Fibonacci levels and 110 11687 and that’s really the key level only a break above 11687 would likely send it up to 135 147 because this is the 78.6 retrace so it’s a very very important Fibonacci resistance retracement uh level plus it’s also the previous b-wave high so

That’s going to be the main level to overcome to unlock higher prices into the white Target region and to be honest Hest this white Target region is applicable for a high B wve should we get one okay but also for a third wave um top okay and basically an extended

Third wave top so ultimately I’d be watching if a rally starts from here that would be an ideal spot okay maybe we make another marginally lower low but um it ideally you know we see something from here now I don’t have a micro count really for what this is um it looks like

A corrective structure which makes sense as a b-wave okay um but I cannot rule out that whatever’s Happening Here might turn into some kind of a triangle we have three waves up three waves down three waves up so another low might be coming before we see that rally just pay

Attention uh if any signals occur for example a First Signal would be a break above the 9740 level this previous High we need to see a convincing break above that level that would indicate that at least here um the b wve in the yellow count has started maybe even um the

Pathway to a more extended rally in wave three or even an overshooting B wve so still though um and I think that’s really that’s really key as long as and I tried to make that very very clear in the previous videos um as long as the movements to the downside remain

Corrective it leaves the door open for another high okay if we start to see the first impulse to the downside and we haven’t seen that yet then it would indicate we are already coming down in wave C okay that’s I think very very important it’s really important to watch

For impulses to the downside any five-wave move to the downside would indicate that a more substantial top has formed and we are indeed in the c-wave to the downside okay so I think that’s really key as long as pullbacks are corrective we can still keep the door

Open for higher yeah 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] all