$SOL 5 min Chart Update 📊✅ Nicely worked 🟢 #CMEBitcoin | Wolf Traders Official on Binance Square

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Bearish

$SOL 
5 min Chart  Update 📊✅
Nicely worked 🟢
#CMEBitcoinSpotTrading #MemeWatch2024 #altcoins #altcoins #BinanceLaunchpool 

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SOL

136.99

+1.75%

338

0

Replies 0

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$SOL Chart Update 📊 01 hour Bearish Scenario 📉📝 This chart appears to be an analysis of the Solana (SOL) to USDT trading pair on the Binance exchange, with data shown on the 1-hour timeframe. It indicates a key technical setup involving Fibonacci retracement levels and Elliott Wave theory, often used in market prediction. - **Fibonacci Levels:** The chart highlights the 0.5 and 0.786 Fibonacci retracement levels, with price struggling to stay above 0.5, suggesting weakening bullish momentum. The level of 0.786 may serve as potential resistance if the price retraces upward. - **Invalidation Level:** The red line labeled "invalid" around 164 seems to be a critical price point. If the price surpasses this level, the bearish outlook may be invalidated. - **Bearish Projection:** The pink line shows a potential forecast for SOL's price, with several small waves downward, indicating a corrective phase. The ultimate target seems to be near 110 or lower, potentially marking a final wave (C). - **Conclusion:** The analysis suggests a bearish outlook with further downside expected unless the invalidation level at 164 is breached, indicating a potential reversal. #Solana_Blockchain #USDataImpact #FreeSignal🚥 #freesignals #freesignal

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