SOL/USD & SOL/FDUSD UPDATE
Bottom line: we still don't know how deep this purple Wave 5 drop will go as the price is currently testing the lower boundary zone.
Here are the 2 main scenarios:
Primary Scenario (Possibility 1): The price could first rebound to the 85.71 – 89.12 resistance area (Wave iv). If rejected there, expect one more drop toward 74.71 – 78.13 (Wave v) before a genuine reversal.
Alternate Scenario (Possibility 2): If the price breaks above 91.87 and successfully retests at Wave 2, it will then rally toward the 108.02 – 114.47 zone.
Focus: Watch price action around the 85.71 – 89.12 resistance zone and manage your spot risk carefully!
#Crypto #Solana #ElliottWave #Trading #BinanceSquare
Bottom line: we still don't know how deep this purple Wave 5 drop will go as the price is currently testing the lower boundary zone.
Here are the 2 main scenarios:
Primary Scenario (Possibility 1): The price could first rebound to the 85.71 – 89.12 resistance area (Wave iv). If rejected there, expect one more drop toward 74.71 – 78.13 (Wave v) before a genuine reversal.
Alternate Scenario (Possibility 2): If the price breaks above 91.87 and successfully retests at Wave 2, it will then rally toward the 108.02 – 114.47 zone.
Focus: Watch price action around the 85.71 – 89.12 resistance zone and manage your spot risk carefully!
#Crypto #Solana #ElliottWave #Trading #BinanceSquare
