Solana ($SOL ) is currently testing a crucial resistance area, moving within an ascending wedge pattern. While momentum remains strong, a confirmed breakout has not yet occurred. Here’s the latest update on support, resistance, and possible scenarios:
🔑 Current Situation
SOL is trading just under the upper boundary of the wedge – a critical spot.
Price recently bounced from micro support but has not broken out yet.
We are holding above $214, which remains the first major resistance to watch.
🟠 Orange Scenario (Bullish Continuation)
Working assumption: Wave 2 bottomed in August.
Current move looks like an A-B-C structure with SOL now in C-wave up.
Within this third wave, short pullbacks are possible but still bullish.
Invalidation level: A drop below $191.80 would be too deep, and this bullish wave count would be questioned.
⚪ White Scenario (Deeper Pullback)
If price loses $191.80, we could be in a larger B-wave pullback.
Support zone: $166 – $180 (buyers may step in here).
This area has already shown multiple reactions and remains a key demand zone.