SOL hits Fibonacci support after correction: what to expect now?

Solana has finally reached those key support levels that technical analysis has been indicating on the daily chart for some time. With a current price of $78.89, the coin is touching the zone projected by Fibonacci ratios for several months. The correction that started from last year’s highs follows an wave 4 pattern, with wave C approaching $81.50, a level that has almost been touched.

Two technical paths from current levels

In a long-term perspective, there are two main scenarios that technical analysts are monitoring. In the first case, the decline from recent highs completes an ABC structure that would function as a larger wave (iv). In the second scenario, this movement represents only wave A of a more extended correction.

At this moment, the second technical path seems more likely. If it develops this way, a bullish move from current levels could be expected, potentially approaching $150 in the coming months. However, analysts remain cautious: there is no definitive confirmation of a market bottom. On shorter timeframes, the initial upward movement from the year’s low only formed three waves, indicating that the impulsive force characteristic of a trend reversal is still missing.

Confirmation signals for a change in sentiment

Key levels to watch are critical to validate any bullish scenario. A clean break above $88, followed by $91.30, would be the first clear sign that momentum is starting to shift in favor of buyers. These levels, identified through Fibonacci and wave structure analysis, would serve as confirmation that the market is seeking a reversal.

For now, the price remains in a decision zone. Technical data suggest potential, but the structure still requires real-time validation. This analysis is not financial advice, only a technical reading exercise using standard market tools.