Yesterday I noted that our wave 4 rally came short of the 1.0 Fib Extension Level. Subsequently we have a deep retracement. The 1.0 extension of that if we were to rally comes to the $75-$76 level and represents and ABC move which would be the most common wave 4 pattern. I continue to remain convinced we need one more thrust but into the $50’s for a final wave 5 to complete this sell off from $143.

However, as I pointed out yesterday if we were to move the 1.0 at $75-$76 and trade higher than $87.45 in the coming days. I’ll have no choice but to adopt the bottom is in. This is NOT my expectation as price has done nothing to advance that alternative viewpoint as of right now. Nonetheless, I expect this week will cap off with all the clues needed to make a further determination as to the impending rally in Solana’s future.

Best to All,

Chris