$SOL UPDATE: WAVE ii CONFIRMED, PREPARE FOR WAVE iii DROP! 📉
As projected in our previous analysis, SOL completed its upward correction phase (A-B-C), topping out at Wave ii (green) around the $102.50 – $103.00 region.
With Wave ii fully printed, the market structure is now setting up for its strongest impulsive downside movement (Wave iii).
📊 PRICE PATH & SETUP BREAKDOWN:
1️⃣ Wave iii Drop (Major Target)
Target Area: $89.79 – $91.68 (Fibonacci Extension 1.38 – 1.618).
Price is expected to break straight through the gray support/demand zone ($93.00 - $94.50) with strong bearish momentum.
2️⃣ Wave iv Pullback (Minor Retest)
Target Area: A light relief bounce back to test the broken support area (support-turned-resistance) around $93.00 – $94.50.
3️⃣ Wave v Final Target
Target Area: Final leg down toward $86.00 – $87.00 to complete the overall red Wave (a).
📌 SUMMARY & TRADING STRATEGY:
Trend Bias: Strong Bearish in the short to mid term.
Key Resistance: A move above the recent high (>$103.50) invalidates this wave count structure.
Trade Plan: Look for Short opportunities on rejection near current highs, or wait for a clean breakdown below $97.00, targeting $89.80 – $91.70.
Disclaimer: This analysis serves as a technical Elliott Wave roadmap. Always practice strict Risk Management (Stop Loss) and position sizing!
I use Binance Future Trade
As projected in our previous analysis, SOL completed its upward correction phase (A-B-C), topping out at Wave ii (green) around the $102.50 – $103.00 region.
With Wave ii fully printed, the market structure is now setting up for its strongest impulsive downside movement (Wave iii).
📊 PRICE PATH & SETUP BREAKDOWN:
1️⃣ Wave iii Drop (Major Target)
Target Area: $89.79 – $91.68 (Fibonacci Extension 1.38 – 1.618).
Price is expected to break straight through the gray support/demand zone ($93.00 - $94.50) with strong bearish momentum.
2️⃣ Wave iv Pullback (Minor Retest)
Target Area: A light relief bounce back to test the broken support area (support-turned-resistance) around $93.00 – $94.50.
3️⃣ Wave v Final Target
Target Area: Final leg down toward $86.00 – $87.00 to complete the overall red Wave (a).
📌 SUMMARY & TRADING STRATEGY:
Trend Bias: Strong Bearish in the short to mid term.
Key Resistance: A move above the recent high (>$103.50) invalidates this wave count structure.
Trade Plan: Look for Short opportunities on rejection near current highs, or wait for a clean breakdown below $97.00, targeting $89.80 – $91.70.
Disclaimer: This analysis serves as a technical Elliott Wave roadmap. Always practice strict Risk Management (Stop Loss) and position sizing!
I use Binance Future Trade
