Solana (SOL): One Last Pump
The reaction down from the medium term high at $126.39 subdivides as a double zigzag. Giving confidence that it was a corrective move and not motive. The reaction from $78.87, the end of the double zigzag, subdivides nicely as an impulse. In the near term, a impulsive channel has broken in a decline which is expected to subdivide as a zigzag. The guideline of the previous 4th wave of lessor degree gives a range of around $90.50 to $94.50 as an expected depth of correction. The risk to reward ratio to establish a long position in that price range is great in my opinion. The potential for a 50% move to the upside is a confident scenario.
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