Saad Ullah
Solana's rally is picking up steam as the token climbs toward multiple resistance zones. After pulling back to key support levels near $72-$75, SOL has launched into what traders are calling Wave 3 - typically the strongest part of an Elliott Wave sequence. Now trading around $89.43, the token is approaching its first major test at $91.20, with eyes on two more targets beyond that.
SOL Rebounds From Deep Support and Launches Wave 3
Solana completed its recent pullback near the $72.02-$75.47 zone, where the 78.6% and 61.8% Fibonacci retracements provided solid support. As Solana Price Boost Near Key Resistance, Eyes $110-$120 Targets noted, this area aligned with the end of the previous correction. From that lower boundary, price kicked off a sharp upward move, marking the start of Wave 3.
Wave 3 is often the most powerful leg in Elliott Wave analysis - characterized by steep gains and strong momentum. Once SOL pushed past the 50% retracement near $78, the pace picked up noticeably. The token is now approaching immediate resistance at $91.20, where the 38.2% Fibonacci level sits.
Three Resistance Levels Define SOL's Path Forward
Beyond $91.20, the chart shows two more resistance zones near $96 and $100. These levels represent both psychological barriers and technical targets based on Fibonacci extensions. They mark areas where traders might take profits or where momentum could slow down temporarily.
The pattern of higher highs and higher lows on the hourly timeframe backs up the bullish case. However, as SOL Price Prediction: Can Solana Break $100 and Ignite Next Rally? points out, approaching these resistance bands could bring consolidation if selling pressure emerges.
This Wave 3 extension matters because it maps out SOL's near-term path after a deep correction. The move from Fibonacci support into a clear impulsive wave shows momentum remains healthy. At the same time, the three resistance levels ahead give traders concrete reference points for watching how Solana Price Analysis: Support Holds, Trend Widens After Pullback price behavior and volatility develop in the coming sessions.
Saad Ullah
