$SOL Update: Wave 1 Confirmation — Waiting for the Wave 2 Entry! 🚀
Analysis Details:
Yesterday, we were looking at two different possibilities for Solana. Today, the price action is becoming much clearer. Solana has followed our Possibility 2, confirming that we are currently in an impulsive Wave 1 (Purple).
While the momentum looks strong, chasing the green candles can be risky. My strategy is to remain patient and wait for the natural market correction.
My Trading Plan:
I am waiting for Wave 2 to develop, which usually retraces to the Fibonacci levels. I have my eyes on the support zone identified in the chart.
Current Status: Completing Wave 1 (Purple).
Wait for Entry: $83.21 – $84.25 (Wave 2 Area).
Target 1: $94.04 (Wave 3 initial target).
Target 2: $100.52 (Psychological resistance & Wave 5 target).
Stop Loss: $80.50 (Invalidation of the current wave count).
Key Takeaway:
Don't FOMO at the top of Wave 1. The best risk-to-reward ratio is found at the bottom of Wave 2. Let the market come to you!
What is your take on $SOL ? Are you bullish or waiting for a deeper dip? Let’s discuss in the comments! 👇
#Solana #sol #TechnicalAnalysis #BinanceSquare #Write2Earn
Educational Disclaimer: This post reflects my personal analysis for educational purposes only. Not financial advice. Always DYOR (Do Your Own Research) and manage your risk.