$SOL continues to show strength on the daily timeframe, as price action remains aligned with the bullish white scenario. The uptrend remains intact as long as Solana holds above the critical trend line support.
At the moment, we are tracking a five-wave advance within the ongoing C-wave to the upside. Based on current price structure, Solana may be in the third wave, which often unfolds as an ABC structure.
🔑 Key Levels to Watch
Primary Support Zone: $166 – $180.25
Critical Breakout Level: $195 – $196
As long as Solana holds within the Fibonacci support zone, bullish momentum remains intact. If support fails, this doesn’t necessarily mean trend failure—it simply signals that an alternative scenario (broader ABC reset) could be in play.
📉 Short-Term Price Action
On the smaller timeframe, the recent downside move appears to be a corrective pullback within the third wave. Despite the dip, Solana has broken out above the trend channel, showing promising signs of upward momentum.
However, confirmation is still needed.
To validate a sustained bullish move, Solana must form a five-wave impulse to the upside. Currently, we see three waves up, but the market still needs:
1. A higher low
2. A higher high to complete the five-wave structure
Once this five-wave advance is confirmed, a three-wave pullback (higher low) would set the stage for another strong move higher.