Solana Price News Today - SOL Elliott Wave Price Technical Analysis, Price Update! - video Dailymotion

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00:00hello and welcome to another update video on solana we want to start here on the larger

00:05time frame for solana because solana has with today's candle broken above our signal line

00:12what i would really like to see now is that the daily candle can close above this signal line

00:19we've also approached or arrived at the 61.8 retracement um so this is like the next key

00:26resistance level right there at around 191 dollars um someone also asked me uh when do we get the next

00:33pullback i can't tell you that right we had the pullback we had a great opportunity only a few

00:38weeks back this was a one two setup this was very clear this was a perfect one two setup um and

00:45therefore yeah if the next one shows i mean you'll hear it here but i can't tell you when because the

00:52trend is up right now enjoy the rally as it's unfolding you can still trade breakouts and

00:57trade momentum if you want to but for pullback traders i mean the time was there right um there

01:03are always pullbacks on smaller time frames i mean we had a couple last week that actually hit micro

01:09support areas but please understand that um in an environment like this at the moment the pullbacks

01:15are rather shallow okay it's it's you know it's a trend um the idea is that we are now either in wave

01:22c in the white scenario i mean that's basically just the same same scenarios we discussed before

01:27right either we are in the white c wave to the upside which could take us higher as part of white

01:33wave b and then in the yellow scenario we might even grind higher towards 360 380 now in the white

01:42scenario um in the white scenario um on the white scenario he the the price not he here the price

01:53could get to round about um the 100 extension at around 249 dollars so the 249 dollar level has been

02:02a target i've i've mentioned for quite some time it's the 100 extension level that's a typical target

02:10for a c wave because the a wave and the c wave they tend to have the same length if you follow my

02:15work then you know that of course it can grind higher directly and that's always possible but as

02:21i shared with you before um the yellow scenario remains my preferred interpretation which means

02:26going even beyond that right so possibly stretching towards 360 380 and again also the price can also go

02:34higher than that i mean this is more like um milestone targets okay like checkpoints and

02:40then we have to see how the price reacts to these levels of interest or areas of interest um at the

02:48moment the trend is up and we are watching for higher prices again you know and as i said to keep the

02:54direct uptrend intact ideally the price holds above that 100 9 185 dollar 70 level that would be ideal i

03:03mean getting a pullback now could possibly open the door to a one two setup but honestly we don't really

03:09have a clear five wave move up yet from the low and i'm not sure if we get another one two setup maybe

03:14it will take the direct route higher which again will be covered by our micro support area so while

03:20i'm watching for a one two setup it would require a break of certain support levels to indicate that

03:25we've even started a pullback that we have formed the local top for now the local trend remains up

03:31and the trend remains up and yeah um the momentum remains up i wanted to say right so if we if we

03:38then look at the structures here the price is currently pushing against the 61.8 retracement

03:43at 191 dollars that's a key level because the 191 dollar level in this case is it's like the golden

03:51ratio level a very very important resistance level and important resistance parameters that

03:57um we we have to consider when we're checking the charts you know but i don't see any rejection so

04:02i don't see that as a major obstacle to the price um the next level i can offer here is at 231 dollars

04:10that's the 78.6 retracement level but please note this is on the larger time frame okay so this is on

04:18the larger time frame there will be other micro resistance levels on the smaller time frames and we can

04:24take a look at that as well now let us move over to the smaller time frame for solana just gonna load

04:32it here it's not doing that i'm not sure why yeah let's go to the smaller time frame and here you can

04:42see another upside extension um so if we go to the one hour chart zoom out a little bit then you see

04:49then you see the rally unfolded from the 22nd of june low nicely not impulsively but as a diagonal

05:00structure in which we had best i can tell um and again that might change but for now that's my view

05:06you know we had a wave one in three waves wave two w x y the y wave is now unfolding and a b c is the

05:14sub wave structure of the y wave that's all part of a third wave and what i'm doing i'm going to move

05:21up the support area with the price as we go higher it's now located at and i might need to change that

05:27no or fine it's now low and slightly okay let's move it slightly it's between 156 dollars pretty

05:35much and 169 dollars this is the main support area that keeps the uptrend intact in a diagonal

05:41structure and then i shared with you over the last few days i mean there were micro support levels

05:45here here you know around the 16th and 17th of july so they were tested and the price bounced off

05:52and um again you can still track higher prices against those previous swing lows so what we did

05:58in the last few days i shared with you what are the key levels that now need to hold to keep the direct

06:04trend to the upside alive right so um 178 dollars to um 173 dollars those are the next uh key levels

06:12there the um last swing lows and as long as they are holding there's no sign of a top so basically

06:19what we need now to indicate a top of sorts and the start of a pullback and that would be likely

06:25the way for pullback we need a break below the last swing low at 178 dollars and then the focus can

06:32be on this support area between 156 dollars and 169 dollars and only then you know we really have

06:40a deeper pullback and then ideally the support level holds but enjoy the rally as long as it's

06:45unfolding right uh we've got phenomenal performance we've had um support levels holding and this doesn't

06:51happen very often um so these momentum rallies are great and so if you wait for a pullback and then it

06:57comes and it breaks support it's frustrating okay they're just saying um now at the moment that being

07:03said there is just no pullback entry right now so if you if you don't if you don't feel comfortable

07:07trading a breakout or trade momentum then don't do it but that's up to you for now the structure

07:12points still towards further upside and the next micro resistance levels are 195 dollars and 39

07:18199 84 to 205 dollars 66 those will be adjusted sometimes i get questions you know what are the levels

07:25and yeah i typically discuss them here in the video you also as a member as a gold member you

07:31have access to our live charts don't forget so you can see the updated charts uh whenever they update

07:36it um typically a few times a day especially something like solana so i'll keep you updated

07:40um hope you enjoyed the update um make sure you hit the like button let us know what you think and also

07:47and also don't forget to join us on x as well follow us here for additional updates um video updates

07:52um analysis and some fun uh community fun you can also ask questions so check it out i'll leave a

07:59link in the description thanks so much bye bye thanks so much for watching the videos on this youtube

08:04channel if you've been thinking about joining mco as a member now might be a great time you can use the

08:10link in the video description and apply the discount code right below it you will get 50 percent of your

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Solana Price News Today - SOL Elliott Wave Price Technical Analysis, Price Update!

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