SOLUSDT 1H Elliott Wave Analysis with Projected ABC Corre
2024-10-27

In this 1-hour analysis of SOLUSDT on Bitget, we observe a completed 5-wave impulse pattern based on Elliott Wave Theory. The chart suggests the formation of a corrective ABC pattern:

Wave (5) reached a peak, indicating the end of the impulsive phase.
We now anticipate a corrective A-B-C sequence, with Wave (A) already forming and Wave (B) indicating a potential minor retracement before the continuation of Wave (C).
Traders should watch for further confirmation of the corrective pattern and consider potential entry points for both short-term and long-term opportunities based on the completion of the correction. Key levels and market reactions to these movements will be crucial in identifying the end of the correction and the beginning of the next potential impulse wave.

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