Solana ($SOL) Technical Update: Elliott Wave Analysis
The Breakdown
This analysis utilizes Elliott Wave Theory, which suggests that market prices move in specific patterns (waves). Here is what the chart is telling us:
Wave C (Pink) Completion: The price has successfully hit the "minimum target" of 88.3. This was a corrective upward move.
The Extension Zone: There is a possibility of an extension. If the momentum continues, the price could stretch toward the 89.00 – 90.78 range (indicated by the pink Fibonacci extension box).
The Bearish Reversal: Once this "Wave C Pink" peak is established, the analyst expects a trend reversal. This would lead into Wave C (Purple), a downward move targeting the green support zone.
Downside Targets: The expected drop could lead Solana back down toward the 78.00 – 80.00 price levels.
Invalidation Point: The red line labeled "INVALIDASI" near 84.00 is crucial. If the price drops below this prematurely, the current bullish "Wave C" count is likely wrong.
Social Media Post Draft
Headline: $SOL Update – Resistance Hit, Watching for Extension 📈📉
The minimum target for Wave C (Pink) has been officially met at 88.3. Currently, Solana is testing local resistance levels, and the next few hours are critical.
Key Scenarios:
Bullish Extension: If the current momentum holds, we could see a push into the 89–90 zone to complete the extension.
Bearish Correction: Following the completion of this wave, the primary expectation is a reversal into Wave C (Purple), targeting a move back down toward the $79 support region.
Critical Levels:
🚀 Upside Target: $90.78 (1.618 Fib Extension)
⚠️ Invalidation: A break below $84.00 shifts the immediate structure.
🎯 Downside Target: $78.83 - $80.00
Stay disciplined and watch the price action closely at these extremes!
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