ðĨ 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!
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!
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