@morecryptoonline
YouTube
Avg. Quality
71
Success Rate
32.16
Analysis
1956
Correct
629
Fail
1288
Pending
39
Ineffective
0
Total Quality
Score
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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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.