Solana - 15 min Elliott Wave Analysis
2024-11-20

Greetings, this is an update to my 15 min count.

I changed the count slightly from an ABC to an WXY as the Wave 2 in the previous C retraced to the 0.886 FIB which makes it less likely. In the WXY we already finished the W and the X and started working on the Y wave. The Y wave is an ABC of which Wave A and B are done with B hitting the 0.886 FIB. Wave C in yellow is ongoing and we might have finished Wave 2 of yellow C. We added the Wave 2 resistance for the yellow C wave and it sits between the 0.5 FIB at 242.93 USD and the 0.786 FIB at 245.54 USD. We do not want it to hit the 0.886 FIB at 246.46 USD.

We also added a trendline which a break of could indicated that yellow Wave C is following through. On the chart you can see the targets for yellow Wave C sitting at the 1 to 1 FIB at 233.32 USD, the 1.236 FIB at 229.97 USD, the 1.38 FIB at 227.93 USD and the 1.618 FIB at 224.56 USD. We preferable hit the 1.618 FIB at 224.56 USD but we wanted to show you the other potential targets too. :)
Noteworthy ist that the 1.618 extension for the Wave Y in the WXY is in confluence with the 1.38 FIB target of yellow Wave C at 227.93 USD.

Wave 2 support of the green Wave 2 stays unchanged and still sits between the 0.382 FIB at 230.78 USD and the 0.786 FIB at 218.57 USD.

Thanks for reading.

NO FINANCIAL ADVICE.