Solana (SOL) is currently moving near the completion of its micro Wave 5 / Wave C drop on the 30M chart. Here is the technical breakdown for this scenario! 📊
🔍 Market Structure Analysis
Final Wave 5 Dip Target: SOL is completing its local bearish impulse into the H4 Demand Zone, targeting the Fibonacci extension cluster between $96.90 – $97.78 (1.236 – 1.618 Fibo Ext).
Bullish Reversal (Wave C Recovery): Once Wave 5 finishes inside the demand zone, a strong corrective rally is expected to start:
Wave a Target: Push toward $102.11 (0.382 Fibo) – $103.70 (0.5 Fibo).
Wave b Pullback: Minor retracement expected after testing $102.11.
Wave c Target: Final leg up targeting $105.30 (0.618 Fibo) up to $107.27 (0.764 Fibo) inside the H4 Resistance Zone.
Major Invalidation: The macro bullish thesis fails if price breaks below $92.34.
💡 Potential Trading Setup
📈 Long Scenario (Buy at Demand):
Entry Zone: $96.90 – $97.78 (H4 Demand Zone)
Target 1 (TP1): $102.11
Target 2 (TP2): $105.30 – $107.27
Stop Loss: Below $92.34 (or tight SL below $96.00)
⚠️ Disclaimer: For educational purposes only. Always manage your risk and DYOR!
💬 Do you think SOL will hold the $97 demand zone and rally to $107? Drop your thoughts below!
