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 on the Solana chart we still in this sideways consolidation as you might know this um yeah basically this wave four correction sideways correction which started already in March around the 17th of March 16th of March that’s when this correction started um the analysis has been quite consistent in that I’ve been highlighting for many months now that we’re likely in a fourth wave of course the exact shape of that wave four is impossible to determine in advance we know that a wave four can be a triangle pattern we know that a wave four often is a so-called flat correction we’ve got these potentials on the chart here um for example in yellow and that is currently my let’s say the working wave count the scenario I’m following primarily at the moment that’s the yellow scenario this actual sideways triangle a wve down then this b-wave rally which topped in around the 21st of May a c-wave which formed a higher low then this d-wave forming a lower high and the ewave possibly forming a higher low that’s still outstanding yeah we we might be in the in the midst of forming a d-wave which is a corrective rally within a triangle of course unreliable because we’re dealing with backto back corrective price action but what is quite clear is uh you know the basically the invalidation points are quite clear the points that uh determine the range boundaries so for example we’ve got $119 there it is the lower boundary that’s the invalidation point because any break below it while it wouldn’t invalidate the way for idea it would invalidate the triangle as such uh to the upside would be a direct breakout and that’s 190 so everything in between could be considered noise and it’s just a range it’s just a sideways range chaotic erratic price action and you need to expect further chaotic and probably directionless price action as long as we stay within the range okay because it is just sideways consolidation the market basically hasn’t fully made up its mind yet that’s what a triangle is telling us it’s a balance of forces between bulls and bears and that basically leads to this erratic uh price action but when we can identify a possible five wve move up even if internally or if if within or when within this this range I mean that is a small setup um obviously all within a larger correction which makes it a bit difficult but yeah we have identified a possible five wve move up before we zoom in quick uh look at the alternative scenario SC Ario so if we see a break below $119 I’m first going to watch the orange scenario in which we’re dealing with a WX y structure and in the Y wave then an A B C okay even this B wve could extend a bit so WX Y and then a b c also possible especially given the five wave move up it might be that we push a little higher but yeah that is basically something that I’m watching first if we break below $119 then we have the next support at 107 94 and $86 only if we break below 86 it will become more likely that is the white count all of these are way four Corrections just different ways of how the subdivisions evolve um but we don’t need to talk about these too much as long as we’re holding 119 the triangle pattern is what matters okay and then we can take a look at the internal wave structure already posted earlier today on Discord for our Gold members that we have identified a first five wave move up this likely topped and we were now watching for a pullback into this support region since that update we’ve already come closer to that support region and again it’s not a Target but these support levels are most often reached in a wave B correction now please be aware that b waves can be extremely shallow they can be very deep they are a little bit less reliable than Wave 2 for example which would respect these Fibonacci levels more um the bwa not necessarily that much but still we have some levels to watch they are between $1 12581 and $135 looking at the micro structure if we’re really in that b-wave we’re dealing with an ABC structure we might be in the process of forming that b-wave right now or maybe it’s already finished it’s a very shallow b-wave but I prefer a clear three-wave move down in wave B and um then the first level to watch will be 135 Please be aware that in the area of the previous wave four of one lesser wave degree here around $132 that’s where we also have the 50% retracement so this is one key level for a b-wave the 50% FIP level and below that the 61.8 retracement at $1 12957 so we need now a little bit more price action to determine where we’re likely going to land um but this is already on a pretty small wave degree anyway so you have some levels to watch and overall we could keep it simple to say that as long as we’re holding 12581 it’s plausible to watch for a c-wave rally this c-wave rally should also be a five-wave move so if we can add those to the Chart here one 2 3 4 five best indication that the seawave to the upside has started would would be a first five-wave pattern to the upside in Wave 1 of C followed by a wave two pullback um basically after a reaction after an impulsive reaction to the micro support Zone yeah any break below 12581 will make upside follow through less likely not impossible given that b-waves sometimes as I mentioned overshoot to the downside could easily break support and still recover but most B waves would still be found in this support region or would would typically terminate in this support region between the 78.6 and the 38.2 retracement now you could say the formal invalidation point is the low of circle wave C here at $121 40 um but even then I have to say as I said b-waves can actually overshoot to the downside even though it would be rare in this occasion but I don’t want to fully rulle that out again the key level is 119 in that region uh well in that case if we break below this circle wave C low which formed on the 5th of July yeah it’s the $119 level that’s again the formal invalidation point for the triangle if broken we have to watch for a larger wave four again in that case the overall assumption wouldn’t change we’re still in a wave for correction just the structure of the sub waves is changing which basically to be honest happens all the time in these Corrections it wouldn’t be anything unusual um we have to prepare for let’s say chaotic up and down movement whips so price section in these Corrections 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

Solana Price News Today – Elliott Wave Price Prediction & Technical Analysis, Price Update!
—————————————————————————————–
🧿 MCO Global:

💻 https://www.mcoglobal.com/

✉️ Join the FREE Newsletter:
👉 https://mcoglobal.com/newsletter/

🧿 Join the Morecryptoonline Crypto Service
👉 https://www.mcoglobal.com/subscriptions OR
👉 https://www.youtube.com/channel/UCngIhBkikUe6e7tZTjpKK7Q/join OR
👉 https://www.patreon.com/morecryptoonline

🧿 Join the S&P500 & Stocks Service
👉 https://www.patreon.com/moretradingonline

Subscribe for Free to More Trading Online:
🔔 https://www.youtube.com/@moretradingonline

Subscribe for Free to More Forex Online:
🔔 https://www.youtube.com/@MoreForexOnline

—————————————————————————————–
🧿 Social Media:

👉 WhatsApp News & Updates:
https://whatsapp.com/channel/0029VaZ0h5B3mFYBkWRWCY0K

👉 X / Twitter:
Tweets by Morecryptoonl

👉 Instagram:
https://www.instagram.com/morecryptoonline_official/

👉 Tradingview:
https://www.tradingview.com/u/MCOGlobal/

👉 Facebook:
https://facebook.com/morecryptoonline

👉 Linkedin:
https://www.linkedin.com/company/more-crypto-online/

👉 Tiktok:

@more_crypto_online

All MCO Global Links:
https://linktr.ee/morecryptoonline

✉️ In case of questions just reach out to us:
info@morecryptoonline.com

—————————————————————————————–
🧿 Exchanges / Products:

👉 Bitget:
Trade with Bitget: https://partner.bitget.com/bg/MoreCryptoOnline
Receive a $15 bonus

👉 Trade on Bybit:
Receive an up to $30,000 bonus (see terms on Bybit)
https://partner.bybit.com/b/MCO

👉 TradingView:
https://bit.ly/Crypto_Tradingview

👉 Trade on Coinbase:
Receive $10 in BTC (see terms on website):
https://bit.ly/MCOinbase

👉 Trade on Binance:
Receive a 15% fee discount (lifetime) when using this link.
https://accounts.binance.com/en/register?ref=XNWEZH08

👉 Trade on Kucoin:
Receive a 20% fee discount:
https://www.kucoin.com/r/af/QBSSSL4T

👉 Trade with eToro:
https://etoro.tw/3oFUKCk

👉 Trade with Trading212:
Receive shares worth up to $100:
https://bit.ly/Trading212MCO

👉 Protect your cryptocurrencies with Trezor:
https://bit.ly/morecryptoonline

👉 Protect your cryptocurrencies with Ledger:
https://shop.ledger.com/?r=0fb3c8be2e46

👉 Stay safe with NordVPN:
https://go.nordvpn.net/SH4s0

#sol #cryptocurrencies #solana