$SOL has just printed a Elliott Wave 5-wave impulse structure, peaking at $167.46. This move suggests the completion of a bullish phase, and now we enter the correction zone.

🔹 Wave Analysis:

Wave (1): Initiated the breakout

Wave (2): Healthy retracement

Wave (3): Strongest rally, extending momentum

Wave (4): Minor pullback holding structure

Wave (5): Final push — topped at $167.46

The chart now shows signs of profit-taking, as the price begins correcting from the wave 5 top. We are now watching a potential ABC retracement.

📉 Key Fibonacci Retracement Zones (From Wave 4 to 5):

0.382 = $163.20 – Light pullback area

0.5 = $161.89 – Classic mid-level correction

0.618 = $160.58 – Deep retracement, strong support zone

These levels act as potential re-entry zones for bulls if price stabilizes.

⚠️ Things to Watch:

A bounce from $160–$162 would confirm strength and setup the next wave (likely bullish continuation).

Break below $160 could invalidate the structure short-term, opening downside risk to $156–$154.

📌 Strategy Insight:

Buy zones: Between 0.5–0.618 Fib if momentum returns

Stop-loss: Below Wave (4) structure (~$158 or custom)

Next target (if trend resumes): $172–175 range

🧠 Summary: The current wave structure remains bullish unless key support breaks. Watch how #SOLANA behaves around the retracement zones — the next impulse could ride on a successful retest.