Solana Is Forming A Bullish Setup

8. März 2023

Solana with ticker SOLUSD made strong rise from the lows, which is first leg (A)/(1) of a minium three-wave recovery. So we are now tracking a corrective pullback in (B)/(2), which looks like an A-B-C flat correction that can find the support here in the 19-15 area. A bounce and recovery back above 27 region would be definitely indication that higher degree wave (C)/(3) is underway, at least towards 38 - 40 area for (C) or higher for wave (3). In case of deeper and more complex correction, keep in mind that we remain bullish as long as it's above 8 invalidation level.