Date: August 25, 2026
Timeframe: 1-Hour (1H)
Pair: SOL/FDUSD (Binance)
Solana (SOL) is testing critical resistance! While our initial minimum target for Wave 5 (Green) of Wave (C) Red was set at $103.45 (0.618 Fib), current price action suggests Wave 5 might have already topped out after touching $102.80, forming a potential Double Top pattern.
📌 Key Technical Scenarios:
• Scenario A (Wave 5 Completed): The touch at $102.80 acts as a local top (Double Top). If rejection holds, we expect an impulsive 5-wave downward correction starting toward intermediate support ($97.22 - $93.93) and ultimately reaching Area A ($87.04 - $81.97).
• Scenario B (Extension to $103.45): If bulls break above $102.80, SOL could push one final leg up to complete the full 0.618 Fib target at $103.45 before reversing.
⚠️ Trading & Risk Management Notes:
• Bears: Since SOL is notorious for high volatility and liquidity sweeps, avoid setting tight Stop Losses. Give your trade breathing room by placing the invalidation SL wider at $105.50 - $106.50 (well above key resistance) to avoid getting wicked out prematurely.
• Bulls: Chasing long positions here carries high risk due to the obvious resistance and potential double top reversal pattern.
Do you think $102.80 was the final peak, or will SOL stretch to $103.45 first? Let me know your thoughts! 👇
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Disclaimer: This post is for educational and analytical purposes only and does not constitute financial advice. Always Do Your Own Research (DYOR) and strictly manage your risk.