2024-03-12 SOLUSD (Binance)
I haven’t found much on Elliott Wave work for Solana here on TradingView and that is probably why I have been asked about it.
So here is a quick view. The chart is really similar to Ethereum, in that the 2022 crypto winter bottom extended long into 2023 in form of an Elliott triangle correction in wave four of the Solana Cycle wave. The market is therefore now in Cycle wave five and Primary wave three, having completed waves one and two in Primary degree.
The chart shows that this Primary wave three has potentially a very long trajectory reaching up to at least 2000 USD, if we just accept standard wave ratios. So keep on buying and hodling, people and the chart will like that, if the overall market holds up.
I haven’t found much on Elliott Wave work for Solana here on TradingView and that is probably why I have been asked about it.
So here is a quick view. The chart is really similar to Ethereum, in that the 2022 crypto winter bottom extended long into 2023 in form of an Elliott triangle correction in wave four of the Solana Cycle wave. The market is therefore now in Cycle wave five and Primary wave three, having completed waves one and two in Primary degree.
The chart shows that this Primary wave three has potentially a very long trajectory reaching up to at least 2000 USD, if we just accept standard wave ratios. So keep on buying and hodling, people and the chart will like that, if the overall market holds up.
The placement of the most recent labels is perhaps premature, but warranted at this time given the current data.