Solana (SOL) Market Analysis – 27th April 2025
Overview:
Currently, Solana (SOL) is potentially ending its Wave 3 move based on Elliott Wave Theory. A Wave 4 correction seems underway or close to completion. If bullish structure holds, we could expect one more push to complete a five-wave impulse, setting the foundation for a larger uptrend.
Key Levels:
Critical Support Zone: $106.00 – $129.80
Immediate Resistance: $151.12 to $155.50 (Fibonacci retracement zone)
Major Resistance (next target): $163.50
Current Scenario:
As long as SOL remains above $106, the bullish trend remains intact.
A micro rally from the current pullback zone ($145 region) could extend Wave 3 further.
If SOL reclaims the $151-$155.50 zone, it could head toward $163.50.
Failure to reclaim that zone might trigger a C-wave move lower within Wave 4.
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Trade Setup
Entry Zone:
Primary Entry: $145 – $148 (current pullback area)
Confirmation Entry: Above $151.12 (on breakout of 50% retracement resistance)
Targets:
Target 1: $155.50
Target 2: $163.50
Target 3 (Extension if breakout succeeds): $172.00 (optional aggressive target)
Stop Loss:
Conservative Stop Loss: Below $143 (previous swing low)
Aggressive Stop Loss: Below $140
Risk Management Tip:
If price cleanly breaks below $145 and fails to recover, stay cautious as deeper correction toward $130–$106 might happen.
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Summary
Solana is positioning itself for a potential continuation of the bullish trend after completing a local pullback. Watching the structure closely: if the next rally is strong and impulsive, continuation to $163 and beyond is expected.
However, if it is weak and corrective, expect another short-term drop before the next big move.
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