Update:
Price has reached our first target at 178 as expected.Momentum remains bearish, and next key supports are at 172, 168, and 162.
🔍 Market Update – SOLUSDT Wave Analysis
Two days ago, we discussed that Solana (SOLUSDT) appears to be in the 4th wave of the 5th wave of the 1st wave — a micro-correction within a larger impulsive structure.
We also mentioned the expected correction levels, with the first target near 188, which was hit precisely, followed by a further drop to 179.5, very close to our second target.
The sharpness and speed of the drop suggest that this leg is likely wave A of an ABC corrective structure.
We are now seeing what seems to be a wave B recovery, which may end around 191.
⸻
🧩 Symmetrical Pattern in Play
An ascending symmetrical triangle has formed during this B wave. This pattern is key:
• Break to the upside → B wave is still unfolding, and the correction is not yet complete.
• Break to the downside → Likely the start of wave C with potential bearish targets at:
• Target 1: 172
• Target 2: 168
• Final target: 162
Wave C will likely complete the correction, followed by a new bullish impulse (wave 5).
⸻
⚠️ Alt Scenario: Wave 1 Already Completed?
There’s a possibility that the entire wave 1 is completed, and we are already in wave 2.
This doesn’t change the short-term bearish outlook, as the correction depth and path are similar, with slightly deeper targets if it’s a larger wave 2.
💡 Trade Setup (Short)
Entry: 187.5 – 188.5
Stop Loss: 191.5
Target 1: 178
Target 2: 172
Target 3: 168
Final Target: 162
This is a low-risk short opportunity, especially on confirmation of triangle breakdown.
📣 Let’s Discuss
Do you agree with this wave count?
Drop your thoughts in the comments, and let me know what targets you’re watching.
👉 Follow for daily wave updates, trade setups, and real-time market analysis.
💬 Like, comment, and share if you find this helpful.
#Solana
#SOLUSDT
#ElliottWaves
#CryptoPredictions
#TechnicalAnalysis
Two days ago, we discussed that Solana (SOLUSDT) appears to be in the 4th wave of the 5th wave of the 1st wave — a micro-correction within a larger impulsive structure.
We also mentioned the expected correction levels, with the first target near 188, which was hit precisely, followed by a further drop to 179.5, very close to our second target.
The sharpness and speed of the drop suggest that this leg is likely wave A of an ABC corrective structure.
We are now seeing what seems to be a wave B recovery, which may end around 191.
⸻
🧩 Symmetrical Pattern in Play
An ascending symmetrical triangle has formed during this B wave. This pattern is key:
• Break to the upside → B wave is still unfolding, and the correction is not yet complete.
• Break to the downside → Likely the start of wave C with potential bearish targets at:
• Target 1: 172
• Target 2: 168
• Final target: 162
Wave C will likely complete the correction, followed by a new bullish impulse (wave 5).
⸻
⚠️ Alt Scenario: Wave 1 Already Completed?
There’s a possibility that the entire wave 1 is completed, and we are already in wave 2.
This doesn’t change the short-term bearish outlook, as the correction depth and path are similar, with slightly deeper targets if it’s a larger wave 2.
💡 Trade Setup (Short)
Entry: 187.5 – 188.5
Stop Loss: 191.5
Target 1: 178
Target 2: 172
Target 3: 168
Final Target: 162
This is a low-risk short opportunity, especially on confirmation of triangle breakdown.
📣 Let’s Discuss
Do you agree with this wave count?
Drop your thoughts in the comments, and let me know what targets you’re watching.
👉 Follow for daily wave updates, trade setups, and real-time market analysis.
💬 Like, comment, and share if you find this helpful.
#Solana
#SOLUSDT
#ElliottWaves
#CryptoPredictions
#TechnicalAnalysis
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
SOL
174.55
-4.50%