This is my fourth analysis focusing on Solana in comparison to Ethereum as a reference point for identifying potential market movements and trends. Utilizing basic charting techniques, I've identified a 5-wave Elliott Wave pattern indicating a clear upward trend in both assets. However, the absence of a continuation pattern in Solana raises concerns of a potential price stall at previous support levels. Understanding price dynamics such as flipping support to resistance at key levels is crucial in mastering chart analysis.
The bear trap formed at the beginning of the bear market serves as a significant support level for Solana, indicating a...
