Morning Update: Solana very non-committal if in a wave 3

BINANCE:SOLUSD   Solana / U.S. Dollar
I don’t post everyday updating Solana because unlike the SPX futures , a lot of time is spent in an uncommitted fashion. Here’s what I mean:

We have what I’m considering a wave 1 in place off the $10.94 bottom in late November. Since then we have consolidated lower in what we would expect price to do in a wave 2, but during this time we have not come into an area that would be ideal for a wave 2 which would be $12.47 to $11.80. Some of my followers have DM’d asking if on the micro side we have an LD wave 1 and 2 in place for the start of wave 3. I have labeled those in purple. However, to start a wave 3 based on an LD is analogist to building a house on quicksand...not the best pattern to launch much higher off of.

Therefore, this wave 2 is being drawn out sub-dividing which is fine...but nothing has changed in my analysis from several days ago. A push lower and then an abrupt turn around to start a wave 3 headed towards the $18 level is still my expectation.

I'll update again once price pushes through $15 or we go lower than what I am anticipating. Until then, we wait.

Best to all,


Be in the know! Go to and be the first to be notified of my new site launch. Coming VERY Soon! Learn Elliott Wave and Become a Professional Trader for Profit.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.