📈 Solana ($SOL ) Market Update – August 7, 2025

Solana is showing early signs of strength on the 4H chart. After holding the key support zone between $140–$170, SOL is attempting a breakout from the upper boundary of the trend channel.

đŸ”č Current Structure:

Still tracking a potential 1-2 setup from the April low. The latest corrective pullback seems complete with a bounce from the 50% Fib at ~$160.

đŸ”č Targets (If breakout confirms):

‱ Micro target: $182

‱ Higher targets: $195, $206, and potentially $250–$290 if a larger wave 3 unfolds.

đŸ”č Key Levels to Hold:

‱ $140 is the invalidation for the bullish scenario.

‱ To sustain upside, SOL must stay above Wednesday's low.

📌 Reminder: Jobless claims data today could add volatility. We’ll need confirmation via momentum and structure (higher highs and higher lows).

⚠ Caution: If price stalls or reverses, it could be part of a broader three-wave move, not a true impulse.

Stay sharp. Breakout is promising, but confirmation is still key. 👀

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