SOL - 4H Elliott Wave Analysis
Greetings, this is our current Elliott Wave Count for the 4H timeframe for Solana.
We assume that the pump we got from the low of the 13th January 2025 was either a Wave 1 displayed in white or a Wave A displayed as red circle. Currently we are looking for a retracement in white Wave 2 or red circle Wave B which both will be followed by a rally to the upside.
The white Wave 2 support sits between the 0.5 FIB at 232.35 USD and the 0.786 FIB at 196.05 USD. We have the 0.886 FIB at 183.35 USD on the chart as this is a valid target for Wave B too and if we go that low we assume that the red circle ABC in in control.
The retracement is unfolding as red (ABC) where red (A) is in and red (B) is either in on almost finished. We assume the red (B) is an ABCDE triangle displayed in yellow. Targets for red (C) are the 1 to 1 FIB at 203.79 USD and the 1.382 FIB at 178.43 USD.
Noteworthy is that the 1.382 FIB at 178.43 USD is in confluence with the 0.886 FIB at 183.35 USD.
Be aware that a break above the red line at 273.29 USD would invalidate the Elliott Wave Triangle as yellow ABCDE in be an indication of a different count or a breakout to the upside.
Thanks for reading.
NO FINANCIAL ADVICE.
We assume that the pump we got from the low of the 13th January 2025 was either a Wave 1 displayed in white or a Wave A displayed as red circle. Currently we are looking for a retracement in white Wave 2 or red circle Wave B which both will be followed by a rally to the upside.
The white Wave 2 support sits between the 0.5 FIB at 232.35 USD and the 0.786 FIB at 196.05 USD. We have the 0.886 FIB at 183.35 USD on the chart as this is a valid target for Wave B too and if we go that low we assume that the red circle ABC in in control.
The retracement is unfolding as red (ABC) where red (A) is in and red (B) is either in on almost finished. We assume the red (B) is an ABCDE triangle displayed in yellow. Targets for red (C) are the 1 to 1 FIB at 203.79 USD and the 1.382 FIB at 178.43 USD.
Noteworthy is that the 1.382 FIB at 178.43 USD is in confluence with the 0.886 FIB at 183.35 USD.
Be aware that a break above the red line at 273.29 USD would invalidate the Elliott Wave Triangle as yellow ABCDE in be an indication of a different count or a breakout to the upside.
Thanks for reading.
NO FINANCIAL ADVICE.
Note
In case we break support we would assume that we are resetting blue Wave 2 of a higher timeframe.
For more informations I'd recommend you reading this analysis which also discusses Bull market targets:
Trade active
Trade closed: target reached
We reached the white Wave 2 support area. :)
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