Solana's "Impulse" ATH Bound To Continue

18 Jan

Wave 1) Low @ $110 to All Time High @ $264.63 - [Complete]
Wave 2) Golden Ratio Retracement from ATH to $169.22 - [Complete]
Wave 3) Price Exhaustion around $323.54 After Valid Break - [ ]
Wave 4) Retracement to Previous Break of Structure - [ ]
Wave 5) Final Leg Before Correction - [ ]

The announcement of the Official Trump coin being launched has started an interesting turn of events and may be helping usher SOLUSD into an Elliot Impulse Wave! With the Solana-based meme coin reaching $8 Billion in Market Cap, value increase by 300% and $1 billion in trading volume we see SOLUSD at an $118 Billion Market cap, currently 15% value increase on the day and close to $14 Billion in trading volume!

In a couple of days, the Pro-Crypto Trump Administration who plan to make "US the Crypto Capitol of the World" is pegged to take Office in just a couple days with expectations of actions being taken that will start to boost the Crypto Market.

I suspect we will see the Extension of Wave 3 that will break Wave 1 confirming the sequence in which we will be looking for Price to Exhaust around the $323 area to then start Wave 4 by Pulling back to Retest the Break of Previous Structure being the High of Wave 1. IF support is then found, we could see the Final Leg of Wave 5 with a Range Target @ ( $418 - $477 )

26 Jan

Nota

Here we can see Price on SOLUSD is Consolidating into a Pennant pattern @ the November 2024 Highs.

The Lows of the pattern find Support @ the 50% and 38.2% Retracement levels from the All Time High of $295.

-Volume is waning.
-RSI Flattening just above 50.

*Break of either Falling Resistance or Rising Support could occur!