Skyrexio | Solana SOL Started Correction
2025-01-30
Category: None

Hello, Skyrexians!

Recently we told about the potential pump for  BINANCE:SOLUSDT   to $300 where price was $170. The main reason was the bullish reversal bar at the bottom of the wave 4. After that price reached almost $300 agains the entire crypto market. Will Solana continue pumping or it's over.

Looking at the time frame we can see that wave 5 has been potentially over. This fact is confirmed by the red dot on the  Bullish/Bearish Reversal Bar Indicator  . This is very strong bearish signal which tells us that Elliott waves cycle has been finished and asset is entering into correction phase. The first target for correction is $160 at 0.61 Fibonacci zone. There we will look at the price action again and make a decision if price will continue to go down or not. 

Best regards,
Skyrexio Team

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