#Solana = Long Term Forecast = 09.12.2021 $Solana #crypto #cryptocurrency

Sharing forecast for Solana: Candles and Elliott Waves perspectives.

CANDLES

Solana is on track to build very unfavorable candle formations on the weekly and monthly frames. The daily is already bearish and the coin is likely to continue downwards.
If Solana closes on Sunday, December 12, below $171, it will be a strong bearish message, suggesting a continued decline for at least one more week.
If Solana closes December below $181, be prepared for the worst.

ELLIOTT WAVES

The coin have completed a close to perfect by EW standards wave (1) and is likely working on wave (2). The first sub waves A and B look also complete.

I measured the possible lengths of supposedly current wave C of (2) by three different methods using Fibonacci.

Possible, most typical targets:

  1. Red
    $160-56, red rectangle
  2. Blue
    $165-39
  3. Purple
    $87-39

As you can see, the rectangles overlap at $87-39 that I consider the most probable target area for this corrective action. In other words, a 48-70% decline from the current level ($183 as I type) in the next few months would not be a surprise.

Summary:
Watch out for the weekly closure below $171 and the monthly closure below $181. They would open a path for a multi-week/month decline to $87-39, a possible loss of 48-70% of current value of $183.
Once wave (2) is over, the coin could experience a rally in wave (3). However, at this point, there is no clear understanding whether this asset is cyclical or continuously growing.

Good luck!

Alert:
https://investingangles.com/2021/12/08/btc-strong-alert-08-12-2021-btc-bitcoin-crypto-cryptocurrency-investing-trading/

Previous Analysis:
https://investingangles.com/2021/12/07/btc-daily-analysis-07-12-2021-btc-bitcoin-crypto-cryptocurrency-investing-trading/

CRYPTO Pulsecheck Weekly:
https://investingangles.com/2021/12/05/crypto-weekly-pulsecheck-strong-bearish-05-12-2021-xrp-theta-ltc-eth-uni-dot-matic-cryptocurrency-btc-btc-hodl/

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