Solana (SOL) Chart Update – May 9, 2025
Solana continues its impulsive structure from the May 6th low, with price action pushing toward the upper target region of $167–$170. The higher timeframe momentum remains bullish as long as key micro support levels hold.
Current Structure & Expectations:
SOL is completing a five-wave advance in yellow wave 1, with the current leg likely in wave 3 of 3.
A healthy wave 4 pullback has not yet occurred, suggesting a possible short-term consolidation, followed by a final push higher in wave 5 of 3.
Micro support sits at $154.33 – a break below could signal the start of wave 4.
If bullish momentum continues, next resistance targets lie at $167–$170, with possible extension to $180 (50% Fib extension).
Key Levels:
Entry Zone (Wave 4 Retracement): $154.50 – $157.50
Primary Target: $167 – $170
Secondary Target (Extended): $180
Stop Loss: Below $154.00 (invalidate short-term bullish structure)
Risk Management Tip: Wait for a confirmed wave 4 pullback and a bullish bounce before entering. Avoid chasing a stretched wave 3.
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