Solana Price News Today – Elliott Wave Price Prediction & Technical Analysis, Price Update!

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Solana Price News Today – Elliott Wave Price Prediction & Technical Analysis! In this video I talk about a technical analysis of the Solana SOL price and I talk about some important price moves that are happening right now!

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Hello and welcome to another update video about Solana probably one of the more interesting charts at the moment as you all know um we have no evidence that the top is in place so naturally we still focus on higher prices I explained to you in the last video two things um

First was that this year might be a small bullish flag that might still lead to a more direct breakout to the upside without even getting into the first main support region and this seems to be where it’s going given that Bitcoin again found its running shoes today um

And then um even if we get into the support region I would probably primarily only count it as a fourth wave with still one more wave higher to come you know we’re going with the trend so the trend is still up so I still look for ways to count further extensions

Higher the main purpose of the wave counts is that they give us the relevant support levels that we need to establish when the trend breaks and so far the trend isn’t broken so don’t assume a top is in place this can go longer and higher than um you would think it’s

Reasonable yeah and also then I think it’s reasonable but I have learned over the years that especially in the third wave and especially in crypto we don’t want to stand in the way of a rally and also we don’t really um want to call a top in place too early so we always

There’s never a need to impose our view on the markets okay never what there is a need to stay in the present to trade in the present to analyze in the present to focus on what we see right now and to watch carefully for the signals of the

Market the language of ta basically helps us understand what the market is telling us so I told you in the last video also about the larger structure bigger picture so anybody who is interested in that in that feel free to check out the last video here at the

Moment I just would like to focus on the shortterm um and we see a potential break out of this yeah what I called in last video bullish flag potentially um you can even call it possibly even it’s possibly even a triangle that’s a bit difficult to to spot um I don’t think we

Have a real breakout yet okay I don’t think we have a real breakout yet still moving within the parameters of what yeah but what you could call a bullish flag or pennant yeah so I’m not suggesting we will definitely go into this support region this is simply the

Main support so first of all we we might still be in this leg to the upside it might not be finished yet basically if we put this in sequence and order it properly which normally isn’t so so important to get it right on the smallest most tiny

Time frames but I just want to share with you um my thought process here so yeah I need to anyway so the idea would be that it is still possible within this fifth wave to get another extension and the reason is that there is a little bit of uncertainty as to you

Know how I count the wave four was it a triangle or did the wave four finish here if the wave before finished here on Friday at around um $90.60 this is one two three this is another wave four with one more High to come I’ve I’ve literally I’ve run out of

Wave degrees so I I’m not even going to put another wave count on here but it’s basically 1 2 3 this seems to be a wave four that yeah could form a triangle but it looks like a wave four right and um as long as we especially as long as we

Stay above $17 80 one more extension higher seems to still be reasonable uh a reasonable expectation targeting $19.50 maybe even $1 12560 and then I would move up the support level for the next corrective wave so this is main support the first significant support on this chart is for

Me $86 84 at the moment as the price goes higher I will move it with the price but the main purpose for this is that in the yellow count basically you know we could have already topped but price action doesn’t suggest it so we might get one more extension in the

Yellow count if we technically that entire third wave could then be finished but I need to see a price break below that significant support at 8680 to let’s say believe it because the trend is up so the market needs to tell me the trend is not up anymore okay I need to

See that break of trend until then I assume that even in the white structure another high is a reasonable expectation and I would focus on that has to be primarily expected until the trend breaks and that move could take us stand to the next FIP levels again it depends

On how high we go here how low we go here in the fourth and then I can give you a more precise Target for way five it feels a bit too early for that for now we use the FIP levels that are already on the chart again

$19.50 125 60 135 basically yeah so aware this might be still a bullish pennant there Bitcoin doesn’t really want to come down so you know Solana might use that as a chance to still push a little higher don’t think there is much more to add at this stage um the

Only other thing that you know we might want to talk about is here this potential trend line obviously the market did hit it today and it can act as temporary support so it might push the price more directly higher that’s my update about Solana hope you like the

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