🚨 $SOL / USD 4H: Wave (2) Top Confirmed – Wave (3) Impulse Underway 🚨
The 4-hour chart for Solana ($SOL ) presents a clean macro Elliott Wave count as price rejection from the Wave (2) peak takes effect! 📊
📊 TECHNICAL ANALYSIS (4H CHART):
• Wave (2) Completion: The corrective ABC (red) bounce topped out near $124.00, completing Wave (2) Purple.
• Wave (3) Expansion: Currently trading at $118.35, $SOL is initiating the Wave (3) impulse leg down.
• Downside Targets: Primary Wave (3) target zone sits at $111.15 – $109.13 (1.38 – 1.618 Fib extension), with full Wave (5) continuation pointing toward $105.00.
⚠️ CRITICAL LEVEL:
$112.63 remains the pivotal breakdown line. Crossing below confirms the macro correction in full force!
💡 STRATEGY:
• Short Position Management: Capitalize on the Wave (3) drop while protecting profits with laddered TPs.
• Spot Accumulation Zone: Exercise patience on fresh spot buys until price reaches the major demand zone at $100.00 – $92.50.
Execute with plan & manage risk! 🧠💰
#Solana #SOL #CryptoTrading #SpotTrading #BinanceSquare #TechnicalAnalysis
The 4-hour chart for Solana ($SOL ) presents a clean macro Elliott Wave count as price rejection from the Wave (2) peak takes effect! 📊
📊 TECHNICAL ANALYSIS (4H CHART):
• Wave (2) Completion: The corrective ABC (red) bounce topped out near $124.00, completing Wave (2) Purple.
• Wave (3) Expansion: Currently trading at $118.35, $SOL is initiating the Wave (3) impulse leg down.
• Downside Targets: Primary Wave (3) target zone sits at $111.15 – $109.13 (1.38 – 1.618 Fib extension), with full Wave (5) continuation pointing toward $105.00.
⚠️ CRITICAL LEVEL:
$112.63 remains the pivotal breakdown line. Crossing below confirms the macro correction in full force!
💡 STRATEGY:
• Short Position Management: Capitalize on the Wave (3) drop while protecting profits with laddered TPs.
• Spot Accumulation Zone: Exercise patience on fresh spot buys until price reaches the major demand zone at $100.00 – $92.50.
Execute with plan & manage risk! 🧠💰
#Solana #SOL #CryptoTrading #SpotTrading #BinanceSquare #TechnicalAnalysis
