📉 SOL/USDT Technical Breakdown (1H Chart)

Solana (SOL) is showing notable retracement signals after its recent high. Here’s what the Fibonacci levels and Elliott Wave structure are telling us:

🔍 Fibonacci Resistance Levels (Retracement from Local Top):

• 50.00% – $161.75

• 61.80% – $166.92

• 78.60% – $174.33

• 88.70% – $179.33

These zones serve as potential resistance if price attempts a bounce or retracement to the upside. Watch closely if SOL re-enters this region.

📉 Fibonacci Support Levels (Bearish Extension/Correction Targets):

• 38.20% – $143.51 ✅ (Currently being tested)

• 50.00% – $132.71

• 61.80% – $122.72

• 78.60% – $109.78

Current price: $146.42

Bearish momentum may push SOL deeper into the golden zone between $132–$122.

📊 Wave Structure (Elliott Wave Count):

• Price appears to be completing a corrective WXY pattern.

• Wave C might not be fully confirmed yet — watch volume and structure on lower timeframes.

🧠 Key Takeaway:

If SOL fails to hold the $143 support, eyes on $132–122 for a potential high-risk buy zone. Meanwhile, any strong move back above $161 could invalidate this short-term bearish thesis.

📌 Stay sharp. Trade safe.

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