Solana (SOL)

Solana needs no introduction as this coin has already proven to be on many people's popular lists. Besides its high-volume trading and great features, its technical analysis is also interesting. After Solana's upward wave finished, a corrective wave, a long one, started. Now, it seems the corrective wave has ended at 0.5 Fibonacci retracement. Also, the correction is unfolding in an inverted wedge pattern. We have to wait for the price to break this pattern upward. Let's see what happens.

코멘트:

SOL is still oscillating below these two downtrend lines. First, we have to see price break these. Let's see what happens.

코멘트:

SOL is trying to break the downtrend lines at the same time. Let's see what happens.

코멘트:

So, SOL broke the downtrend lines successfully and is on its way to the horizontal resistance area. If SOL breaks this area too, a reversal has happened. Let's see what happens.

코멘트:

So, Solana successfully breached the horizontal area and is making a pullback on this area. We have to wait and see how price movements unfold.

코멘트:

Solana is still battling with the horizontal resistance area. Let's see if SOL can break it.

코멘트:

SOL have started another upward wave to break the horizontal resistance area. Let's see if SOL can break it.

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Just an update.

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Finally, SOL broke the horizontal resistance area and on its way up.

코멘트:

So, SOL is going up and doing it strongly. Let's see when the wave iii end.

코멘트:

If we look at Solana chart from distance, I see a three waves pattern of A-B-C for Solana as a general view. Also, I think Solana price can achieve much higher levels, beyond most people imagination. In other words, holders could somewhat experience Bitcoin's early years--or re-experience for those early stage holders of Bitcoin.

코멘트:

It seems that SOL is moving upward in an ascending channel; thus, it is possible that wave iii ends when SOL reaches the channel's upper line. Let's see what happens.

코멘트:

So, SOL broke the ascending channel downward, and the correction wave started. The possible area for correction wave v to end is shown. Let's see what happens.

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So, SOL is going up toward the ATH. Let's see what happens.

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SOL is not stopping! Going up to finish wave 3. Let's see what happens.

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Historically, SOL's previous wave 4 ended between 0.5 and 0.618 of Fib time zone. Could this happen for the current wave 4? It's close, let's see what happens.

코멘트:

So, SOL is still in correction, and it seems an a-b-c correction pattern is unfolding; although, correction could turn into a complex one-let's hope not. Anyway, SOL first needs to break the correction triangle upward for continuation. Let's see what happens.