SOL Rejected at all time high! Whats next?

Local Analysis / Targets / Elliot Wave

Solana attempted to break into price discovery but was rejected harshly back to the High Volume Node support trapping new traders and investors with the all time high excitement. Wave 3 appears to be underway with a minimum target of $365 the 1.618 Fibonacci extension and R5 daily pivot. Wave 3 pull backs should be shallow.

Continued downside bring up the ascending daily 200EMA and 0.382 target of $173. RSI is at the EQ and crossed bearishly.

Standard Deviation Band Analysis

Solana continues in the expected range just above fair value. Its attempts to break through the SD+2 threshold continue to thwarted but the next attempt will be number 4, the higher probability breakout!

Safe trading