$SOL #solana
Wave and classical analysis of SOL currency on a 4-hour frame:
Wave analysis:
The currency has completed a strong bearish wave and then started a corrective sideways wave (ABC). It is clear that we are now in a corrective upward sub-phase after a long decline, and we may witness a limited rebound as long as the last low is not broken.
Classical analysis:
The general trend is bearish, but there is an attempt to form a double bottom and a corrective rise from the 133-135 areas. The price is currently at a minor resistance area around 139-140.
Key support areas:
133 (very strong support)
128 (the next support in case of a break)
Proposed trade (speculative buy):
Entry point 1: 135
Entry point 2 (add-on): 133
Targets:
1. First target: 143 (approximate profit ratio: 6%)
2. Second target: 149 (approximate profit ratio: 10%)
3. Third target: 158 (approximate profit ratio: 17%)
Stop loss: Close four hours under 128
Recommendation: Buy only from support areas with entry segmentation, and sell at targets, strict stop loss.
Note: If 128 is closed below, the temporary bullish scenario is canceled.
Wave and classical analysis of SOL currency on a 4-hour frame:
Wave analysis:
The currency has completed a strong bearish wave and then started a corrective sideways wave (ABC). It is clear that we are now in a corrective upward sub-phase after a long decline, and we may witness a limited rebound as long as the last low is not broken.
Classical analysis:
The general trend is bearish, but there is an attempt to form a double bottom and a corrective rise from the 133-135 areas. The price is currently at a minor resistance area around 139-140.
Key support areas:
133 (very strong support)
128 (the next support in case of a break)
Proposed trade (speculative buy):
Entry point 1: 135
Entry point 2 (add-on): 133
Targets:
1. First target: 143 (approximate profit ratio: 6%)
2. Second target: 149 (approximate profit ratio: 10%)
3. Third target: 158 (approximate profit ratio: 17%)
Stop loss: Close four hours under 128
Recommendation: Buy only from support areas with entry segmentation, and sell at targets, strict stop loss.
Note: If 128 is closed below, the temporary bullish scenario is canceled.
