soltrades

Solana ($SOL
is moving right in line with last week’s roadmap. After tapping into the $250 resistance zone over the weekend, the market flipped into pullback mode — exactly as anticipated. Now the big question is whether this move is just a classic wave 4 correction in the Elliott Wave structure, or the start of something deeper.

🔑 Key Levels in Play

Resistance tested: $250 (right on target)

Wave 4 support zone: $217 – $236

Fib retracements for wave 4:

38.2% → ~$229

50% → ~$223

Critical line in the sand: $217 (must hold for the diagonal pattern to stay valid)

📉 Short-Term Action

Looking at the 1H chart, the pullback is unfolding in a clean three-wave corrective structure — exactly what you want to see in a bullish wave 4.

Price dipped under $236 but buyers quickly defended.

SOL already tagged $232 (near the 38.2% Fib).

A further dip toward $223–$224 would still be healthy within the wave 4 framework.
🌐 The Bigger Picture
If this pullback locks in as wave 4, the next move could be a wave 5 rally targeting $360–$380 over the coming months. That’s still the working roadmap.
But let’s be clear: if price cracks below $217 with momentum, it’s no longer just a pullback — that would open the door to a much larger correction.

#solana #Sol #SOLTrades #SolanaStrong