$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.

๐Ÿ”น 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 โ€” 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.

๐Ÿ“‰ Key Fibonacci Retracement Zones (From Wave 4 to 5):

0.382 = $163.20 โ€“ Light pullback area

0.5 = $161.89 โ€“ Classic mid-level correction

0.618 = $160.58 โ€“ Deep retracement, strong support zone

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

โš ๏ธ Things to Watch:

A bounce from $160โ€“$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 $156โ€“$154.

๐Ÿ“Œ Strategy Insight:

Buy zones: Between 0.5โ€“0.618 Fib if momentum returns

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

Next target (if trend resumes): $172โ€“175 range

๐Ÿง  Summary: The current wave structure remains bullish unless key support breaks. Watch how #SOLANA behaves around the retracement zones โ€” the next impulse could ride on a successful retest.