@morecryptoonline

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Avg. Quality

71

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32.16

Analysis

1956
Correct
629
Fail
1288
Pending
39
Ineffective
0
Total Quality
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If You Had Traded on This Analysis…
Correct
SOLUSDT
Short Entry 127.2900 2026-01-24 11:30 UTC
Target 119.9700 In 12 Hours Fail 134.5300
Risk/Reward 1 : 1
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Final PnL
5.75%
P/L:
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SOLUSDT
Correct
Cryptocurrency
Technical
1H
Analysis Predict Bear Market
SOLUSD has been consolidating sideways since Tuesday, currently operating within a corrective pattern on the 1-hour chart. The price is anticipated to continue a range-bound movement over the weekend, trading between the nearest support level around $124.90 and a micro resistance area between $129.08 and $134.53, likely staying below a descending yellow trend line at approximately $132.80. The overall Elliott Wave count suggests that this consolidation is part of a Wave 4 correction, which could eventually lead to a lower low to complete Wave 5, targeting the $119.97 level. A decisive break and sustained movement above the $134.53 micro resistance would invalidate this bearish outlook and open the door for a larger bullish rally. Conversely, if the price fails to break above the $132.20 resistance and continues to consolidate, the likelihood of a triangle pattern or ABC correction leading to the Wave 5 low increases.
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