📊 Solana ($SOL ) Market Update – Wave 4 in Play 📊

SOL is moving towards its Wave 4 support zone after a strong Wave 3 rally from the August 2nd low. The third wave hit the 161.8% Fibonacci extension, a textbook healthy target for an impulsive move.

📍 Key Levels:

Wave 4 Support: Above $170 (critical to maintain bullish structure)

B-Wave Resistance: $181.81 – $185.17 (possible rejection zone if reached)

Wave 5 Target Zone: $192 – $196

Includes 200% – 238.2% Fibonacci extensions

Aligns with structural resistance from July 28 swing high ($191 – $196)

📈 Structure & Elliott Wave View:

August 2nd low → 3 waves up so far.

Holding $170+ keeps probability high for a 5-wave completion.

Wave 5 completion could confirm the trend direction up and set stage for a higher low pullback.

Break below $170 increases risk that the move was only a 3-wave corrective top.

💡 Summary:

Healthy Wave 3 rally complete; now watching Wave 4 pullback.

Next leg higher could target $192–$196.

$170 is the key support to hold for bullish continuation.

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