SOL - 4H Elliott Wave Analysis
2025-01-30
Category: None

Greetings, this is our update for the 4H Elliott Wave Count of Solana.

We dipped into our white Wave 2 support area as expected in our last Analysis.
We are looking for an impulsive bounce soon.

The white Wave 2 support area sits between the 0.5 FIB at 232.35 USD and the 0.886 FIB at 183.35 USD.

It is unclear if the correction is over yet as we can only count 3 waves down displayed in green.
We assume we are currently working on the 5th green Wave down which would finish the correction in pink Wave C. 

We added some targets for the green Wave 5.
These targets sit at the 1 to 1 FIB at 220.15 USD, the 1.618 FIB at 205.41 USD, the 0.618 FIB at 213.54 USD and the 0.786 FIB at 205.26 USD.

After this correction finishes in either white Wave 2 or red Wave B we expect and impulsive move to the upside in either white Wave 3 or red Wave C. 

Noteworthy is that the optimal target for pink Wave C sits at the 1 to 1 FIB at 203.79 USD which is in confluence with the the 1.618 FIB at 205.41 USD and the 0.786 FIB at 205.26 USD of the green Wave 5 that we expect.

Be aware that we have high impact news later today.
Federal Funds Rate followed by the FOMC statement which can lead to volatility.

Thanks for reading.

NO FINANCIAL ADVICE.