This 1-hour chart of SOLUSDT (Solana Perpetual Contract) showcases a potential 5-wave Elliott impulse structure forming within a larger resistance zone.
- After breaking down from the highlighted resistance range (roughly $122–$129), SOL is currently retracing upward in what appears to be an impulsive 5-wave correction.
- Waves (1) through (4) seem to be in place, with Wave (5) projected to complete just below or near the resistance zone again.
- A potential bearish reversal is anticipated upon the completion of Wave (5), likely targeting support around the $120–$121 level.
Traders should monitor the price reaction near the $126–$128 region for rejection signals. A failure to break and hold above resistance could validate the short scenario, while a clean breakout could invalidate the bearish outlook and signal continuation.
Tight stop-loss management and confirmation through volume or momentum indicators are recommended before entering a trade.
- After breaking down from the highlighted resistance range (roughly $122–$129), SOL is currently retracing upward in what appears to be an impulsive 5-wave correction.
- Waves (1) through (4) seem to be in place, with Wave (5) projected to complete just below or near the resistance zone again.
- A potential bearish reversal is anticipated upon the completion of Wave (5), likely targeting support around the $120–$121 level.
Traders should monitor the price reaction near the $126–$128 region for rejection signals. A failure to break and hold above resistance could validate the short scenario, while a clean breakout could invalidate the bearish outlook and signal continuation.
Tight stop-loss management and confirmation through volume or momentum indicators are recommended before entering a trade.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.