maikisch

maikisch

As of this morning we're still making progress on our target of $109-$110. However, I would like price to show clearer signs of an impulsive 3rd wave. That requires us to get into the $105-$107 area quickly. I'll update tonight. Best to all, Chris

maikisch

Nothing goes straight up or down. Today we saw a solid recovery after being down 7 points to rally green on the day. As we await the completion of 5 waves up. Solana needed a support level to bounce off of explosively. This is how bottoms behave. However, we're not out of the woods. What do we need price to do to tell us this rally is sustainable? 1) Has to...

maikisch

As with most corrective waves, they can take on complex shapes designed to frustrate traders and are never good areas to put on or take off positions due to their highly volatile nature. The overlapping feature of this decline leads me to believe this was an ending diagonal (Not a triangle). If in fact it was, THEN PRICE SHOULD RETURN TO WHERE THE ED STARTED...

maikisch

When uncertainty persists the path of least resistance is continuation. That means this decline from $143 doesn't appear to be done with us. After what appears to still to be a triangle pattern I think we have one more poke lower to about $92-$97. Triangle pattern becomes invalidated over $110 and under $98.17. Best to all, Chris

maikisch

If these overlapping fits and starts develop into a triangle...this is the pathway price will follow. Have a good weekend... Best to All. Chris

maikisch

Yesterday I published my scenarios for Solana price. The attached hourly chart now reflects that primary count. I've looked at the Solana chart from different angles and it appears we're in a minor 4th wave triangle with one more slight dip below $98 to finish off this B of the much larger B wave we're in. Ultimately I believe this consolidation from $259.95...

maikisch

I believed each chart stands on it's own. I don't buy into different assets being tethered to one another or trade in tandem in the long-term. Yes, a broken watch is right twice a day. Right now, and in the short-term, Solana seems to be tethered to the US indices. Truth be told it's hard not to notice that with most directional intraday ticks in the SP500,...

maikisch

(Trading View doesn't allow the posting of a 3 minute chart....do any of my followers know how to post a micro 3 minute chart???????) The micro 3 minute chart shows a set up in place for us to advance TODAY into the low teens. But under no circumstance can SOL breach $102. If so, there's a high likelihood we will breach the $98 level. I'll update...

maikisch

We have a 1-2, i-ii in place and we're ready to explode to 1.382 or 1.618 Fib Level for wave 3. We need to stay above the recent low of $98.405 and if we do tonight, we should have a big up day tomorrow. -------------------------------------------------------------------------------------------------------- If you find my Solana analysis helpful please give...

maikisch

Today's micro 5 wave structure was far bigger than expected as was the pullback from that rally. Provided we DO NOT take out the afternoon low, and we now trade above this morning's high of $109.295 we should be headed to the purple target area on the chart above. A breach of the afternoon low should yield a minor new low to red target box. On concern is...

maikisch

Now we're looking for a corrective retrace down into the $101-$103 area followed by a rally back over this morning's high. Will Update later on this evening. -------------------------------------------------------------------------------------------------------- If you find my Solana analysis helpful please give this posting a thumbs up or follow me to ensure...

maikisch

The attached chart would be the typical pathway I would expect if Solana is reversing. It's early to forecast so today should give us some good clues. The first price Solana needs to get back above is $109, then $123 on an explosive rally. This could take up to a week or more. Timing is a guess. The manner (Wave Structure) in which we do this will be watched...

maikisch

As forecasted, I got the OML I mentioned in my last several posts. This decline appears to show clear signs it's concluding....or at least has run it's short term course. Last week I posted an article entitled " Solana, why can't you just cooperate and play nice? that stated... [b ]" That would mean our retrace from the $259.995 high on November 6, 2021 is...

maikisch

I'll do a more in-depth update tonight. But a quick glance at the Solana chart has me thinking this is almost over.

maikisch

An overlapping 3 wave decline is what we want to see. Personally it's 50/50.

maikisch Updated 

This slight up-trending consolidation we have in Solana could go two ways. The attached 15 minute chart shows price could be in a leading diagonal to kick things off to the upside, or one more low to reconcile itself later on this evening. I favor the alternative of OML. Nonetheless, this retrace from $143 is getting long in the tooth so to speak to be a 4th...

maikisch

When applying EWT to charts one spends a lot of time looking at structure, technicals and chart labels. It's not uncommon for analysts to re-label or reorganize their charts due to unanticipated price movements or just a change in perspective. No, I'm not going to go into how I've come to adopt a new EW count on Solana. However, in looking at the chart...

maikisch

Overnight Solana traded marginally above the $122 area. I can make out 5 waves up and a corrective 3 waves down. Price now needs to make a higher high on an explosive rally that should reach over at least $133 as outlined in the attached chart. This structure has us pointing to a double top or the $152 area. Any breach of $114 and we're probably going to tag...