SOLT (2x Solana ETF) — 4H - LONG
SOLT just bounced hard off a Demand Zone at ~$24.45, forming what looks like Wave (4) in a textbook Elliott Wave 5-wave structure. The prior impulsive rally formed Wave (3), and the current bullish rejection off support sets up for Wave (5) to potentially complete above $34.
Buyers stepped in aggressively at the Demand Zone, and we’re seeing bullish momentum reclaim the short-term trendline.
High-impact news: Recent Solana partnership announcement with Stripe for crypto payments may act as tailwind for SOL price — boosting leveraged ETFs like SOLT.
Demand Zone: $24.40–$25.50 ✅ (Strong reaction)
Supply Zone: $33.48–$35.19 🛑 (Likely exhaustion for Wave 5)
🎯 Trade Setup
🎯 Entry $26.05
❌ Stop Loss $24.40
✅ Take Profits TP1–TP7: $27.77 → $35.19
⚖️ Risk/Reward ~1:5.4 (to TP5)
Risk Management
Risk only 1–3% of total capital. Use position sizing tools.
SL should be respected strictly.
Consider moving SL to breakeven (BE) once TP1 is hit.
🔄 Trade Management
Scale out partials at TP2–TP4.
Final TP near supply zone – consider full exit near $35 unless breakout fundamentals shift.
"The market is a device for transferring money from the impatient to the patient." – Warren Buffett
⚠️ Disclaimer
This is not financial advice. This trading idea is for educational purposes only. Always do your own research and consult with a professional before trading leveraged ETFs like SOLT.
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