SOLUSD Elliott Wave Analysis – TradingLounge Daily Chart
Solana/ U.S. Dollar (SOLUSD) Daily Chart Analysis
SOLUSD Elliott Wave Technical Overview
Function: Counter-trend
Mode: Corrective
Structure: Flat
Position: Wave C
Next Higher Degree Direction: Pending
Wave Cancel Invalid Level: Not Specified
Solana (SOLUSD) Trading Strategy:
Following the completion of the Wave V bullish phase, Solana’s price has transitioned into a corrective pattern. The ongoing formation is categorized as Wave B—a temporary price recovery—before a projected downward movement into Wave C.
Primary Strategy
✅ For Short-Term (Swing) Traders:
If Solana’s price enters the $162–$182 resistance zone and begins to decline, traders could consider initiating a short trade setup aligned with Wave C’s expected path.
Risk Management
The invalidation point for this scenario is above the Wave V peak, near $320. A move past this level would invalidate the current corrective wave count.
SOLUSD Elliott Wave Analysis – TradingLounge H4 Chart
Solana/ U.S. Dollar (SOLUSD) 4-Hour Chart Analysis
SOLUSD Elliott Wave Technical Overview
Function: Counter-trend
Mode: Corrective
Structure: Flat
Position: Wave C
Next Higher Degree Direction: Pending
Wave Cancel Invalid Level: Not Specified
Solana (SOLUSD) Trading Strategy:
Solana reached a peak that concluded the Wave V trend. Since that point, the market has shifted into a corrective structure. The price is now advancing in Wave B, a temporary rebound, potentially setting the stage for a downward move into Wave C.
Primary Strategy
✅ For Short-Term (Swing) Traders:
Should SOLUSD reach the $162–$182 zone and then exhibit bearish signals, it may present an opportunity to short, aiming to profit from Wave C’s development.
Risk Management
A rise above $320, breaching the previous high from Wave V, would nullify this wave analysis and call for reassessment.
Technical Analyst: Kittiampon Somboonsod
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