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Elliott Wave Analysis – TradingLounge Daily Chart,
Solana/ U.S. Dollar (SOLUSD)

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:
After reaching a high point that ended the Wave V uptrend, Solana's price entered a notable corrective structure. The current move is identified as Wave B—a mid-term rebound phase—preceding a potential decline in Wave C.

Trading Strategies

• Primary Strategy

  • For Short-Term (Swing) Traders:

    • If SOLUSD climbs into the $162–$182 range and then shows signs of reversing, traders may consider initiating a short position targeting Wave C's development.

• Risk Management

  • The invalidation point for this wave count lies above the Wave V peak, around $320. Exceeding this level would negate the current corrective outlook.

Elliott Wave Analysis – TradingLounge H4 Chart,
Solana/ U.S. Dollar (SOLUSD)

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 peaked at the end of the Wave V uptrend. Since then, the market has entered a corrective structure. Currently, price action is forming Wave B—a rebound stage—before a likely continuation downward into Wave C.

Trading Strategies

• Primary Strategy

  • For Short-Term (Swing) Traders:

    • A rise into the $162–$182 range followed by a reversal could offer a shorting opportunity aimed at capturing Wave C.

• Risk Management

  • A break above $320, the resistance level from Wave V, invalidates this wave count scenario.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

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