-
-
Posts
-
By CryptoChamp · Posted
Solana (SOL) is making waves in December 2024, trading at $240.55, with a weekly gain of 2.42%. Despite a slight daily dip of 1.14%, the Solana crypto price has risen impressively by 3.29% over the past month, achieving a year-to-date increase of 1.9% and a stunning 29.91% quarterly gain. The current price of Solana remains near its recent all-time high of $263.83, recorded in November. Institutional interest in Solana coin price is surging, as evidenced by a 4.04% rise in derivatives Open Interest, now at $6.13 billion. Analysts attribute this growth to Solana’s scalability, low transaction costs, and expanding ecosystem of dApps and NFTs. The Sol crypto price is further supported by technical patterns like the cup and handle, which often precede upward momentum. Key support levels for the Solana price today lie at $230, with $420 projected as a potential festive season target. The Solana price now benefits from robust market fundamentals, such as strong RSI (66.11) and MACD (9.22) readings, signaling sustained buying interest. With Bitcoin nearing $100,000, alternative cryptocurrencies like Solana are poised for continued growth, making the Sol price prediction increasingly optimistic. -
By tradinglounge · Posted
Coffee Elliott Wave Analysis Coffee has recovered from the late November sharp drop. The next breakout will see it trading at the highest prices since the 1970s. For many decades, prices have been in a $300-wide range. Is it about to break the range and reach for new highs? Daily Chart Analysis On the daily chart, the price is evolving into a double zigzag structure from the January 2023 low of $141.85. Wave ((W)) in April 2024 followed by a dip for wave ((X)) which ended in May 2024 where wave ((Y)) started. It now appears the price is upside along the path of wave (Y) of ((Y)). This shows room for more upside for buyers before a significant pullback follows. H4 Chart Analysis On the h4 chart, the price appears to have completed wave A of (Y) and perhaps wave B in early December if the current rally progresses above wave A high. Thus, the commodity will most likely advance toward $385 in the coming days. With this, a new record high should happen. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
BAJAJ FINSERVE – BAJAJFINSV (1D Chart) Elliott Wave Technical Analysis Function: Counter Trend (Minor degree Grey) Mode: Corrective Structure: Impulse within larger degree correction. Position: Minor Wave 1 Grey Details: Minor Wave 1 is potentially complete below 1600. If correct, Minor Wave 2 rally should unfold towards 1800 levels before bears are back in control. Invalidation point: 2040 BAJAJ FINSERVE Daily Chart Technical Analysis and potential Elliott Wave Counts: BAJAJ FINSERVE daily chart is indicating a potential trend reversal against 2040 high, which was registered in September 2024. The larger degree uptrend looks complete as bears remain poised to complete the first impulse wave lower around 1400-1550 zone. Earlier, the stock had unfolded a larger degree triangle consolidation between July 2022 and June 2024, terminating Intermediate Wave (4) Orange around 1420 mark. Bulls managed to terminate Intermediate Wave (5) as a thrust impulse wave before prices reversed sharply lower. If the above holds well, price action would slip through the 1400 mark in the near term, before producing a counter trend rally. BAJAJ FINSERVE – BAJAJFINSV (4H Chart) Elliott Wave Technical Analysis Function: Counter Trend (Minor degree Grey) Mode: Corrective Structure: Impulse within larger degree correction. Position: Minor Wave 1 Grey Details: Minor Wave 1 is potentially complete below 1600. If correct, Minor Wave 2 rally should unfold towards 1800 levels before bears are back in control. Alternatively, Minor Wave 1 could complete around 1400 mark before the corrective rally begins. Invalidation point: 2040 BAJAJ FINSERVE 4H Chart Technical Analysis and potential Elliott Wave Counts: BAJAJ FINSERVE 4H chart is highlighting the sub waves after Intermediate Wave (4) Orange terminated as a triangle around 1420 mark in June 2024. Intermediate Wave (5) unfolded as an impulse, terminating around 2035-40 mark. Furthermore, the stock has turned lower since then as a potential impulse lower could be either complete around 1565 mark or could extend through 1400 zone. Please note 1400 zone is close to the triangle termination of previous Wave (4) as well. Once Minor Wave 1 lower is complete, we can expect a counter trend rally to materialize. Conclusion: BAJAJ FINSERVE has potentially turned lower against 2040 high and it has potentially completed its first impulse drop around 1550 mark. If correct, a counter trend rally should be underway soon to unfold Minor Wave 2 Grey. Elliott Wave Analyst: Harsh Japee Source : Tradinglounge.com get trial here!
-
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now