Usman Salis
⬤ Solana moved into a critical technical zone overnight, hitting 146.50 after a steady climb that matched earlier projections. The token briefly cleared the structural resistance at 144.60—a level that drew attention because of the 100 percent extension sitting right above it, creating a strong resistance cluster. SOL is now trading around 142.85 as it consolidates after reaching its target.
⬤ The chart shows Solana has wrapped up a complete A-B-C structure backed by a clear five-wave pattern in wave C. This hints that a potential circle wave 4 high might be in place, though it hasn't been confirmed yet. Price needs to drop below 134.80 to lock in a top. Until that happens, another leg up is still on the table. Several retracement zones sit below, including 139.73 at the 23.60 percent level, along with deeper spots at 137.01 and 134.84 that could catch price if it pulls back.
⬤ If Solana pushes higher, the next resistance band runs between 152.60 and 157.30. These levels line up with Fibonacci projections on the chart and mark where the next wave cluster could form. The recent price action around 146.50 played out as expected, showing how the token interacted with key structural zones.
⬤ Reaching major extension levels often signals a turning point in broader market structures. Solana's move into the 146.50 region marks a moment where price dynamics could shift depending on how support at 134.80 and resistance near 152.60–157.30 hold up. These levels now set the stage for SOL's next directional move.
Usman Salis
