SOLANA (SOLUSDT): How Ready Are You For What is Coming!
Hello traders and investors,
I want to highlight the recent developments in the cryptocurrency world, specifically focusing on SOLUSDT. After significant movements, there was a price collapse from November 2021 to December 2022. I believe this decline forms a five-wave pattern, indicating a potential downtrend continuation.
Since the December 2022 low, there has been a five-wave rally followed by sideways movement, forming an Elliott Wave Running Triangle. A crucial level to watch is 24.80; a break above could lead to another five-wave rally, completing the ABC corrective pattern before the downtrend resumes.
The price target is around 68-70USD , aligning with the 61.8% Fibonacci bounce and the equality for the ABC rally.
If you find this analysis helpful, please like and comment. Until next time, Peace.
I want to highlight the recent developments in the cryptocurrency world, specifically focusing on SOLUSDT. After significant movements, there was a price collapse from November 2021 to December 2022. I believe this decline forms a five-wave pattern, indicating a potential downtrend continuation.
Since the December 2022 low, there has been a five-wave rally followed by sideways movement, forming an Elliott Wave Running Triangle. A crucial level to watch is 24.80; a break above could lead to another five-wave rally, completing the ABC corrective pattern before the downtrend resumes.
The price target is around 68-70USD , aligning with the 61.8% Fibonacci bounce and the equality for the ABC rally.
If you find this analysis helpful, please like and comment. Until next time, Peace.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.