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

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

[Music]
hello and welcome to another update
video about Solana Solana dipped a
little bit further into the support Zone
hasn’t really given us any indication
that a low is in place looks a bit
unfinished to the downside so if the
yellow scenario is unfolding here uh
then obviously you know it should turn
around in the support region should
ideally turn around here or maybe after
one more micro low and uh because then
we are already below the $12747 level
and that’s the micro support area that
really matters for this AB structure
from here we can watch if the price
finds some kind of support but this is
backto back corrective price action so
it might as well just break through we
need to see a first impulse to really
consider that this entire correction is
over um but it yeah as I said in
previous updates it will probably take a
long time until that chart here until
this chart provides us with some clear
structures on the smaller time
frames in a sense one more low would
clarify the chart because then it would
really look like a five-wave
decline one 2 3 4 5 and whenever we get
five waves into a direction it would
clarify ver ify and then we can say okay
probably the next rally is going to be
corrective because if five waves in One
Direction are observed typically
indicates that we get five more into the
direction okay five down three up five
down that would create a larger ABC
structure as highlighted in red and
could set the stage for further upside
continuation but for now just not much
happening you know it’s just been
ranging and the support region is
completely unchanged so structurally
there is absolutely no change we need to
um break above the last High which was
formed here around
$160 to suggest that the seawave to the
upside has started but if we get a
sustained break below $12747 I would
probably stop watching for that yellow
seawave to the upside because then it
becomes much much clearer that this is
Red Wave five of a can take that area
out we don’t need that one more um yeah
so these are the two scenarios obviously
you know about them if you watch
previous videos so that means if one
more low forms it means that a much
larger correction is likely unfolding
that’s helpful knowledge because it
would as I said clarify the
chart always waiting for
clarification and at the moment this is
just ambiguous price action we have
three waves down into support could be
wave four in the yellow count or the a
wve in the red count if the AWA formed a
three-wave move then in the yellow count
it is possible that we’re moving up in
an ABC
structure in wave five of C of five very
very ambiguous you know whenever we deal
with three wve corrective structures
probabilities are very very balanced so
best the analysis can do is really just
to tell us what the relevant pivots are
I don’t have a preference for any of
these scenarios on the micro level
absolutely not and then as soon as this
larger third wave has topped then we
should start the fourth wave or in the
red count the fourth wave is already
unfolding so either way you know the the
scenarios don’t really differ that much
but because there is a possibility for
the red count and that we’re already in
the larger degree fourth wave we’re
tracking already or we have been
tracking for a while this larger support
Zone and maybe with one more low we’re
going to test it likelihood is
increasing for the that if we break
below $12747 then the next or the first
main support level here is to be found
at
$18.80 that’s very very close to that
previous swing low which formed actually
on the 5th of March and therefore we
have a combination of important
Fibonacci support for wave five of a and
of a previous structural support level
that we can watch if we see a bounce
there but without without any kind of um
yeah yeah decent motivated reversal
there is no low okay so be careful at
the moment the levels are clear you can
just trade the ranges if you want to
trade this but this is not really a
setup or anything that would warrant I
think any aggressive trades at the
moment because we’re still possibly in a
correction and even if not even the move
up would likely be all
corrective
um so yeah these are the key levels
actually to watch and let’s take a look
at the long-term chart as well for
Solana don’t think there’s anything to
add on the smaller time frame in terms
of price structure looking at the longer
time frame here you can see actually how
this is all integrated actually what
I’ve labeled here as way 4 and yellow is
actually the red count on the other
scenario uh just has to do with um you
know how this is laid out but yeah in
the bullish Market the idea would be
that the next larger pullback is this
way for of course there’s a bearish
alternative I have to show that on the
long-term chart let’s not focus too much
on it we track that with the support
area anyway so if support breaks we’re
likely in the white seawave to the
downside but for now we can give the um
overall bullish thesis a chance so
looking at the long-term chart as soon
as this wave four is over and again that
would be the Red Wave four here which on
the smaller time frame is already
unfolding or after the next
high so there’s a degree of uncertainty
of course but that fourth wave when it’s
finished should take us to new all-time
highs in a wave five you know next wave
up should take us to new all-time highs
to maybe $440 plus um we can also take
this area
out but you can see which is quite
interesting that the price got rejected
at one of our resistance levels here
this previous swing high that formed in
December
2021 um yeah and for a away four of this
wave degree if this is really unfolding
already yeah it should probably um be a
bit longer considering that the wave two
took the wave two like half a year to
develop and this Wave 4 started only um
bit more than a month ago so that can
still stretch out a bit if this is
already the way for that’s my update
about um Solana hope you like the update
if you did please hit the like button
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lot for watching bye-bye for

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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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