Solana is currently in wave 2 in the 162.5-156 area.

Wave 2 in Elliott Wave Theory is a corrective wave that follows the first impulsive wave (Wave 1). Wave 2 should not break through the starting point of Wave 1. Typically, Wave 2 will retrace a portion of Wave 1's gains, often at Fibonacci retracement levels such as 61.8% or 78.6%.