SOL/USD - Time to be careful on Solana! 🙃
As you can see from this simple chart, Solana appears to be at the end of wave 5 in a beautiful Elliot Wave structure. Once this structure is completed, expect a correction, maybe an ABC towards our support around $50.
I don't exclude another green week, but this is not the time to buy. This is when you slowly secure profits and sell. The waves are perfect both on USD and BTC pair, so there are no divergences here. Chart is pretty clear.
On daily, MACD is starting to curve down, if we have a bearish cross that is your last signal to exit. Because holding then has no point unless you play the long game.
For now best to be cautious and use your cash for better opportunities. SOL already gave us an amazing rally.
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I don't exclude another green week, but this is not the time to buy. This is when you slowly secure profits and sell. The waves are perfect both on USD and BTC pair, so there are no divergences here. Chart is pretty clear.
On daily, MACD is starting to curve down, if we have a bearish cross that is your last signal to exit. Because holding then has no point unless you play the long game.
For now best to be cautious and use your cash for better opportunities. SOL already gave us an amazing rally.
Like and follow if you liked this idea!
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