Tag: Solana

WXY Correction and the Path Forward: Initially, Solana appeared to be consolidating within a triangle pattern, but the structure was erratic and lacked clarity. After re-evaluating the price action, we have re-labeled it as a WXY correction. This structure provides a cleaner and more coherent view of the current price…

Current Market Situation: Wave Count and Structure: Wave C Structure: Conclusion:

After reaching a local top around $165, Solana has entered into a well-defined downtrend. Based on our wave count, the market is currently undergoing a classic ABC correction. The structure of this correction appears to be well-formed, and when we examine the broader market structure, it could be interpreted as…