Eseandre Mordi
Solana is entering a decisive phase after months of downward pressure, with price action compressing near recent lows and forming what appears to be a structured correction. According to Matthew Dixon, SOL may have completed the A and B legs of a flat correction, setting the stage for a potential C-wave higher toward the $109 level.
The Structure That Signals a Possible Turn in SOL
The chart reflects a clear broader downtrend, with SOL falling from significantly higher levels into a prolonged decline. However, recent price action has shifted away from impulsive selling into a more controlled consolidation near the $80-$90 region.
This behavior aligns with a classic flat correction, where price moves in overlapping waves rather than trending cleanly. The structure suggests that the initial decline (A) and rebound (B) may already be in place, with the market now positioning for the next upward phase.
The A and B legs of the flat correction appear complete, with the market now positioning for the next upward move toward $109.
Price is holding above recent lows, indicating that downside momentum has slowed and the market is transitioning into a decision zone.
Why $109 Is the Key SOL Upside Target
The $109 level stands out as the projected completion zone for the corrective pattern. It aligns with a prior resistance area and a key retracement level visible on the chart.
Before reaching that level, price would need to push through intermediate resistance zones near the $98-$103 region, where previous reactions have occurred. These areas act as stepping stones within the broader move.
Tight consolidation ranges near resistance tend to resolve into sharp directional moves once the corrective structure runs its course.
SOL Price Analysis: Solana Tests $105 Resistance as Traders Watch for 5-Wave Breakout Signal shows similar structures where consolidation below resistance precedes breakout attempts.
Where the SOL Market Is Still Uncertain
Despite the developing setup, the chart does not yet confirm a breakout. Price remains within a narrow range, and no clear sequence of higher highs has formed.
This reflects a market still in transition rather than a confirmed bullish reversal. SOL Solana Price Analysis: $92 Resistance in Focus After $80 Bounce noted similar conditions where SOL continued to compress near key levels, with direction dependent on whether resistance is reclaimed or support breaks.
The structure suggests potential - but not certainty - leaving traders focused on whether the anticipated C-wave materializes.
The corrective pattern appears mature, yet confirmation requires price to actually break out of consolidation and establish upward momentum.
The Setup Traders Are Watching Now
Solana's current positioning highlights a market at an inflection point. If the structure completes as expected, a move toward $109 becomes the natural technical target.
SOL Price Tests $80 as Breakdown Risk Builds outlined the risk scenario that remains relevant - until price breaks out of consolidation and confirms upward momentum, the setup stays conditional rather than confirmed.
The next few sessions will likely determine whether SOL follows through on the flat pattern or remains range-bound as traders wait for a clearer signal.
Eseandre Mordi
