Solana is demonstrating a clean impulsivity following the completion of a major Wave (C) bottom near the $56.00 mark. Price structure currently suggests we are developing inside Wave C (Green).
🔍 Technical & Wave Breakdown:
• Wave i topped out around $76.00 before Wave ii retraced into the $72.35–$74.24 demand zone.
• The rally to $84.39 represents Wave a (purple) inside the primary Wave 3.
• We are now watching for a healthy corrective Wave b (purple) pullback to offer a high-probability entry before the next leg up.
🎯 Wave b (Purple) Retracement Support Cluster:
• 0.382 Fib: $82.36
• 0.500 Fib: $80.82
• 0.618 Fib: $79.28 (Golden Pocket)
• 0.764 Fib: $77.37
🎯 Upside Targets:
• Wave c (Purple): $92.49 – $94.21
• Wave 5 (Macro Wave C Target): $95.00 – $96.00
⚠️ Invalidation Level:
The bullish impulse setup remains valid as long as price holds above $72.35 (origin of Wave iii). A 4H candle close below this level invalidates the immediate impulse count.
💡 Trading Strategy:
Patience is key. Instead of chasing the top at current levels, monitor lower timeframes (15M/1H) for reversal patterns (e.g., bullish engulfing, RSI divergence) inside the $79.28–$82.36 zone.
Proper risk management is advised. What are your thoughts on SOL's current structure? Let me know in the comments below!
