SOL is breaking down from this multi-year trendline which has 4 solid touch points. It's difficult to say how low it will go, worst case is probably around $20, but there are definitely other paths it could take as well.
Without forecasting the exact future price, I will say that probabilities are favoring a continuation of the downtrend which began in January after Trump launched his memecoin on Solana.
After we see how fast and far this drops, we can probably get a better idea of what is developing here. Right now, it looks like wave-B ended in January, and we are in a very large wave-C now, but there are some other possibilities as well. The wave-B possibility is closest to the middle so that's the one I am favoring now.
Without forecasting the exact future price, I will say that probabilities are favoring a continuation of the downtrend which began in January after Trump launched his memecoin on Solana.
After we see how fast and far this drops, we can probably get a better idea of what is developing here. Right now, it looks like wave-B ended in January, and we are in a very large wave-C now, but there are some other possibilities as well. The wave-B possibility is closest to the middle so that's the one I am favoring now.
Note
Potential short-term bottom has formed here based on this zigzag/wiseman/bullish divergence combo. It's hard to say how high this could bounce but its best to take profit on shorts until we have new information.
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Find me on x.com/intuit_trading
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.