SOL/USD - Soon to reach $100. Can we go to $60? 😪

As predicted in my SOL idea a few weeks back, Solana topped at $216. Now we're correcting and this may take a while to finish considering the massive pump we had this year.

As such, best to consider shorts in this current structure as Solana is very likely to go to $100 before we have any good hope for a reversal. Even the support at $100 is a bit optimistic at this time, we may get a dead cat bounce, but if BTC and ETH don't hold their technical support at $38k and $2.7k (ideas below) then Solana will go lower, towards $60.

Buying at $60 feels much better to me with less risk. At $100 the risk is not for my taste.

The indicators are bearish. Daily is bearish and MACD on 3 day timeframe just did a bearish cross... Last time this happened it took Solana 2 months to turn bullish again. This time, as we completed a 5 wave Elliot structure, the bearish price action may last even longer.

That is why I think we have to expect SOL to reach two digits price before throwing money at it. :)

Don't get greedy and be patient. Your buy opportunity will come, but don't rush into it. Wait for some bullish signals like a bullish divergence on RSI or MACD.

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