📊 Solana ($SOL ) Market Update – August 11, 2025

Current Daily Structure: Uptrend from April 25 low still intact. August low at $155 remains critical support for the bullish pathway.

Wave Structure:

Post-August low: 3-wave move up so far – still requires confirmation for sustained upside.

From August low:

Wave 1: Initial rally.

Wave 2: Pullback.

Wave 3: Hit 161.8% Fibonacci extension, ideal 3rd wave target.

Wave 4: Ongoing correction – recently touched C-wave target zone.

Key Levels:

Resistance: $192.8 (5th wave target), potential overshoot above $193.

Support: $170 (Golden Ratio, max depth for Wave 4), $155 (August low – invalidation level).

Scenarios:

Bullish Primary: Hold $170 → breakout above $192.8 → path towards $200 and later $360.

Bearish Alternative: Break below $155 would signal deeper correction and risk invalidating the current bullish count.

Momentum Check: Need renewed upside push to confirm Wave 5 – otherwise risk of extended consolidation.

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