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Solanaidea

Solana: In Wave [ii]Since the light green wave 2’s low at $133.18, Solana has been working on wave 3, which should develop via a green five-wave substructure. Currently, the internal wave correction should still be in progress, as no significant upward impulses have emerged thus far. Accordingly, we anticipate further declines, but the price should transition into the subsequent green wave above the support at $133.18. If the coin falls below this key level, our 30% likely alternative wave count will come into play. On the other hand, Solana has already tested important levels during wave , so we cannot rule out an immediate rally above the resistance at $264.32.
BINANCE:SOLUSD
by MarketIntel
SOL USDT Price AnalysisYou can easily see that the left draws a clear harmonic pattern. There is only one problem. What price will point C correspond to? Although the C leg of the pattern also seems to be complete, there still does not seem to be complete price stability. There is a possibility that the price will fall to fibonacci 1.13 and change the current harmonic pattern to shark or another harmonic pattern. Even so, we can think that the start of the uptrend will be close. But we have another problem. If you are not an experienced investor, we see that you are trying to complete a harmonic pattern of the bear market, whatever its name. So even if there is an upward movement, strong downward sales will start again in the coming times. In this case, I think it will be safe to make piecemeal trades and enter stop loss orders. When you examine the bollinger bands and solana movements in the chart below, you see that the prices are stuck between the bollinger bands. The triangle on the chart does not indicate a pattern. Just consider it a geometric shape to show that prices are shrinking. The triangle has no meaning. It just marks how the depth of the bollinger bands has narrowed. The upper line of the Bollinger bands may be in an angular downward acceleration. This may be a confirmation that prices are still not pointing to an upward trend. It's not reliable, but I wanted to say it in terms of ideas. When we examine the movements of prices in the last week, we can think that this indicates an ascending wedge. Accordingly, we can expect a decrease of the same depth. You can also observe that the levels indicated in this chart and the previous supply zones are on the same plane. The important thing here is to determine whether the C leg will be at lower levels. If the area I pointed out with the current C is crossed, you can expect prices to return from fibonacci 1.13. Because the existing marked C leg will be invalid. As a result, even if the C pillar is crossed, we can foresee that we will not wait too long for prices to start an upward trend. Because the AB areas of the formation have been formed. For C, we can predict that enough time has passed, or even that it may have occurred. I think it would be a safe trade to buy and accumulate from here piece by piece and wait for the formation of the D leg. When we measure the resistance areas where the selling reaction may come during the uptrend of the harmonic pattern with the fibonacci levels of the harmonic pattern, you can predict that it coincides with the previous supply regions and that there will definitely be a sales reaction from here. Note: This is not investment advice.
Long
by CryptoBrainn