🔥 SOL Strong Bounce Off Support: Elliot Wave In The Making?

Around a week ago I made an analysis on SOL. In this analysis I argued that SOL was prone to make a strong move in the near future.

The first target at $170 was reached, but also caused SOL to retrace towards the $150 support that we indicated in the previous analysis.

$150 offered sufficient support and SOL is going up again as of today. This move could potentially be the first wave of a 3-wave bullish Elliot wave chart pattern. The ending location of this move is speculative, but I'm eyeballing the $230 area.

In order to accommodate the Elliot Wave theory, I've moved the two targets to $175 and $200 respectively. Let's see how this move plays out.

Happy trading!