Solana’s price action sends a clear message: the correction may not be complete yet. While buyers continue to emerge at key levels, the broader structure still points to the possibility of a final downside test before a sustained move to the upside can take shape.
Wave IV is still not completed as the C wave pressure continues
Crypto analyst More Crypto Online, in a recent updateexplained that Solana’s chart structure still points to the possibility of another downward move before the ongoing correction is fully completed. Within the orange scenario, price action continues to align with a C-wave decline in a broader wave IV correction, keeping the corrective outlook valid as long as the structure remains non-impulsive.
Even considering the alternative white scenario, the current pullback can still be classified as an A wave, leaving room for a new low before a B-wave recovery begins or before a potential fifth wave develops to the upside. In both interpretations, the analyst noted that the correction may not have been completed yet.
From a short-term perspective, the chart suggests that Solana could drift lower into the $81 to $90 region. Currently, there are no clear structural signals pointing to an immediate bullish continuation, as the absence of impulsive upward moves keeps downside scenarios firmly in play.
However, if prices were to rise from current levels without hitting a new low, the broader structure since January 2025 would look more like a triangular consolidation than a completed wave IV. This alternative setup would imply an extended sideways move rather than a quick resumption of the trend. Until stronger upside momentum builds, the focus remains on the risk of another corrective low.
Controlled reaction at the 50% Fibonacci signals Solana’s buying power
AltCoin Vietnam declared that Solana’s current price action shows a strong and reassuring reaction around the 50% Fibonacci level. Instead of falling aggressively, the price is bouncing back in a controlled manner, indicating that buyers still retain their influence. From a wave structure perspective, wave IV does not appear to be nearing completion anytime soon, leaving room for wave C to expand further if the market continues to move in line with the broader rhythm.
The bullish bias is further reinforced by the ongoing ETF story surrounding Solana. The spot SOL inflow does not occur in a FOMO-driven manner, but rather through steady accumulation over several sessions. This type of capital flow often reflects longer-term positioning rather than short-term speculation, which explains why the price tends to recover quickly when it revisits key support zones.
That said, the prospects are not without invalidity. A sustained move below the 50% Fibonacci level would signal that the current structure has broken down. However, the analyst views the recent pauses as temporary breathers within a broader upward structure, rather than the start of a meaningful downtrend.