SOLUSDT 📌 Current Wave Structure:
We are currently in an impulsive upward move, which appears to be Wave (3).
The recent pullback can be interpreted as an ABC correction within Wave (4), reaching nearly the 88.7% retracement level.
📌 Potential Scenarios:
1️⃣ Short-Term: Further corrective movement downward (potential Fibonacci retracement of 38-50% for Wave (4)).
2️⃣ Mid-Term: A continuation of the upward move towards the $170-$175 target zone, marking the completion of Wave (5) and possibly the entire larger structure (C).
3️⃣ Long-Term: After Wave (5) concludes, a significant corrective move could follow.
⚠️ Key Levels to Watch:
🔹 Support: $140.30 / $133.45
🔹 Resistance: $146.49 / $170.41
📊 Conclusion:
If the correction plays out within the expected Fibonacci zones, this could present an attractive long setup for Wave (5). However, a larger corrective move might follow afterward.
What are your thoughts? Feel free to share your analysis and opinions! 📉📈
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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.