SOLANA $SOL : MISSED THE RALLY & 2 BIG ELLIOTT WAVE POSSIBILITIES RIGHT NOW! 🚨📉📈
To be honest, I personally missed out (FOMO) on this quick rally. After the market felt extremely slow and boring for the last 2 months, it suddenly shot up out of nowhere in just 3 days! 🚀
However, aggressive moves like this always leave clues on the charts. Based on my Elliott Wave analysis for $SOL, I see 2 Big Scenarios we need to keep on our radar:
🔴 POSSIBILITY 1: ONLY 3 WAVES (BEARISH REJECTION)
Scenario: The recent sharp move was merely a 3-wave corrective structure (a-b-c) getting rejected at the primary resistance zone ($93.6 - $102.5).
Confirmation: If price rejects and breaks below the Bull Invalidation level at $81.69, this structure confirms a potential deep drop towards Wave (iii) with targets around $51.7 - $72.8.
🟢 POSSIBILITY 2: 5 IMPULSIVE WAVES (BULLISH CONTINUATION)
Scenario: The 3-day surge was Wave iii of a 5-wave impulsive structure.
Confirmation: A break below $88.87 triggers the Wave iv Correction into the re-entry zone ($81.55 - $86.08). This pullback gives us a second chance to catch Wave v targeting $93.5 - $99.5!
💡 KEY TAKEAWAY & LESSON:
Key Levels: $88.87 (Wave 4 Trigger) & $81.69 (Bull Invalidation Line).
Lesson Learned: Crypto always finds a way to catch us off guard right when we get bored. Never chase the green candle—it's always better to wait for a confirmed pullback setup in the Wave 4 area!
Did you manage to catch this 3-day train, or are you in the same boat waiting for a Wave 4 pullback? Let me know in the comments! 💬👇
#Solana #SOL #ElliottWave #CryptoTrading #BinanceSquare #tradingjourney
To be honest, I personally missed out (FOMO) on this quick rally. After the market felt extremely slow and boring for the last 2 months, it suddenly shot up out of nowhere in just 3 days! 🚀
However, aggressive moves like this always leave clues on the charts. Based on my Elliott Wave analysis for $SOL, I see 2 Big Scenarios we need to keep on our radar:
🔴 POSSIBILITY 1: ONLY 3 WAVES (BEARISH REJECTION)
Scenario: The recent sharp move was merely a 3-wave corrective structure (a-b-c) getting rejected at the primary resistance zone ($93.6 - $102.5).
Confirmation: If price rejects and breaks below the Bull Invalidation level at $81.69, this structure confirms a potential deep drop towards Wave (iii) with targets around $51.7 - $72.8.
🟢 POSSIBILITY 2: 5 IMPULSIVE WAVES (BULLISH CONTINUATION)
Scenario: The 3-day surge was Wave iii of a 5-wave impulsive structure.
Confirmation: A break below $88.87 triggers the Wave iv Correction into the re-entry zone ($81.55 - $86.08). This pullback gives us a second chance to catch Wave v targeting $93.5 - $99.5!
💡 KEY TAKEAWAY & LESSON:
Key Levels: $88.87 (Wave 4 Trigger) & $81.69 (Bull Invalidation Line).
Lesson Learned: Crypto always finds a way to catch us off guard right when we get bored. Never chase the green candle—it's always better to wait for a confirmed pullback setup in the Wave 4 area!
Did you manage to catch this 3-day train, or are you in the same boat waiting for a Wave 4 pullback? Let me know in the comments! 💬👇
#Solana #SOL #ElliottWave #CryptoTrading #BinanceSquare #tradingjourney