Momentum on Solana is weakening as the chart approaches two crucial decision points, making the coming days particularly important. With a deeper corrective target on the macro frame and a respected mid-range support zone, SOL is gearing up for a move that could shape the next big trend.
This wave is complete as Solana signals a bigger pullback
Elliott Waves Academy has presented a fresh presentation perspective about SOL, focusing on the weekly time frame. According to the analysis, SOL appears to have completed its upward wave, identified as wave (1)/(A), within a broader bullish structure. This recent break below a key level reinforces the view that a deeper corrective phase may already be underway.
Based on the wave count and Fibonacci measurements, the correction is expected to extend to the range of $49.26-$32.03, corresponding to the 50%-61.8% retracement levels. Should SOL reach this area, a clear correction pattern, combined with a strong rebound, would help validate the broader bullish thesis and suggest buyers are stepping back with conviction. Price behavior within this zone will be critical in determining the next big swing.
If this scenario unfolds as expected, a decisive breakout above the key level previously breached will serve as confirmation of renewed upward momentum. However, a breach of the $8.00 level would completely negate the bullish outlook, signaling a much deeper structural shift.
SOL coils for impact while compressing price into a tight structure
According to a recent update of CryptoPulse, Solana is shaping what looks like a textbook technical setup. The current structure is tightening, showing reduced volatility and signaling that a decisive move may be on the horizon. As SOL consolidates, the chart is starting to adjust to an important technical level.
The main zone highlighted is the $133 support level, an area that previously acted as a reliable reaction point for buyers. True partnerships, continuous development and increasing activities in the chain all strengthen this technical zone with extra weight.
Given this confluence, the strategy becomes clearer: let the price revisit the $133 region and observe how the market reacts. If buyers intervene aggressively and form wicks, bullish engulfing candles or strong volume spikes, this could be a signal that the level is holding again.
CryptoPulse mainly emphasizes patience. Instead of chasing the market, let the chart come to you. When both fundamental and technical data point to the same area, it often increases the likelihood of strong follow-through. Trading based on confirmation rather than prediction is the key to building a solid position in such situations.