That’s a sharp read on the current chart. Your Elliott Wave interpretation of a 3-wave corrective bounce matches the broader "wait-and-see" mood currently blanketing the market.

Here is a breakdown of how your technical view aligns with the current macro backdrop for $SOL today, February 12, 2026:

1. The Technical Setup: Wave (B) Potential

You noted a weak 3-wave move, which often signals a corrective B-wave rather than the start of a new impulsive uptrend.

* The Resistance: Solana is currently struggling with a resistance zone around $88.60 – $89.65. Failing to break this decisively supports your theory that we’re seeing a "dead cat bounce" or a corrective structure before another leg down.

* The Support: If we do see that dip in wave (B), the level to watch is the recent low at $78.05. A break below that could see SOL searching for footing in the $75.00 or even $67.70 range, depending on how "hot" tomorrow's data is.

2. The CPI Catalyst (February 13, 2026)

You’re spot on about the lack of action today. The market is in a "holding pattern" because the upcoming January CPI data (which was delayed by the government shutdown earlier this year) is finally dropping tomorrow.

* Market Sentiment: Investors are cautious. If inflation comes in lower than the expected 2.5%, we might see the momentum finally shift for SOL to break that yellow trendline.

* The "Wait-and-See": Volume is predictably thin today. Most traders are unwilling to take large positions ahead of a report that could drastically shift Federal Reserve rate cut expectations for the second half of 2026.

3. Solana’s Current Price Context

For reference, as of today, February 12, SOL has been under significant pressure, having dropped roughly 45% from its early 2026 highs near $150.

* Upside Potential: If the 3-wave move does somehow transform into a 5-wave impulse (unlikely without a catalyst), the next major hurdle sits at $95.33.

* Downside Risk: The macro trend remains bearish as long as we stay below that $106.50 level.