🔥 $SOL Technical Analysis (1H) - Elliott Wave & Key Levels 🔥
Crypto family, here is the technical mapping for SOL/FDUSD based on Elliott Wave theory. We are currently watching a potential impulsive decline (POSSIBILITY 2) to complete the broader corrective wave.
📌 Key Highlights & Technical Mapping
Current Status: Price is trading around 104.44, hovering near the Wave (2) Pink resistance zone (Fibonacci 0.382 – 0.618 / range 103.98 – 105.27).
Target Projections (Impulsive Pink Wave):
Wave (3) Target: 97.72 – 96.56 area (Fib 1.38 – 1.618).
Wave (4) Retracement: Potential pull-back towards 99.66 – 100.62.
Wave (5) Target / Wave IV Bottom: Final downside target sits around 94.23 – 89.22 (major support zone).
⚠️ Invalidation Levels (Risk Management)
Pink Wave Invalidation: 107.51 (A breakout above this level invalidates the 5-wave pink impulse count).
Possibility 2 Invalidation: 91.73
💡 Trader's Note: Watch closely for rejection or breakout price action around Wave 2 (103.98 – 105.27) before taking any setup. Always practice proper risk management and use Stop Losses!
I have taken profit on all my spot positions.
What’s your outlook on $SOL? Are we heading down to $96 or breaking out to the upside? Drop your thoughts below! 👇
#Solana #SOL #CryptoAnalysis #Trading #BinanceSquare
Crypto family, here is the technical mapping for SOL/FDUSD based on Elliott Wave theory. We are currently watching a potential impulsive decline (POSSIBILITY 2) to complete the broader corrective wave.
📌 Key Highlights & Technical Mapping
Current Status: Price is trading around 104.44, hovering near the Wave (2) Pink resistance zone (Fibonacci 0.382 – 0.618 / range 103.98 – 105.27).
Target Projections (Impulsive Pink Wave):
Wave (3) Target: 97.72 – 96.56 area (Fib 1.38 – 1.618).
Wave (4) Retracement: Potential pull-back towards 99.66 – 100.62.
Wave (5) Target / Wave IV Bottom: Final downside target sits around 94.23 – 89.22 (major support zone).
⚠️ Invalidation Levels (Risk Management)
Pink Wave Invalidation: 107.51 (A breakout above this level invalidates the 5-wave pink impulse count).
Possibility 2 Invalidation: 91.73
💡 Trader's Note: Watch closely for rejection or breakout price action around Wave 2 (103.98 – 105.27) before taking any setup. Always practice proper risk management and use Stop Losses!
I have taken profit on all my spot positions.
What’s your outlook on $SOL? Are we heading down to $96 or breaking out to the upside? Drop your thoughts below! 👇
#Solana #SOL #CryptoAnalysis #Trading #BinanceSquare
