SOLUSDT Analysis by @pipsnipers

The analyst discusses Solana (SOLUSD) using Elliott Wave analysis on a daily chart, starting from 2021. A five-wave downward move (A) is followed by a triangle pattern (B) and another five-wave drop (C) terminating at the 78.6% Fibonacci extension. A five-wave move up is followed by a WXY correction, then a significant Wave 3 to the upside. The analysis suggests that Solana hasn't made a new all-time high yet, but expects upside to new price highs with wave 4 structure which often forms a flat pattern to trap both longs and shorts, sweeping A wave highs and lows. A Fibonacci retracement from the Wave 2 low ($13.42) shows a correction to the 61.8% level. A diamond top pattern is identified, suggesting a breakdown towards Fibonacci supports. Important support is at $141 to $144. Losing $117 is a bearish sign. Upside breakout needs to get above $178-$180 to reach for $208 and $222 as target . The target price is from $354 to $673.