Solana Elliott Wave Update: Wave 4 Correction Could Set Up Another Bullish Opportunity

Back on September 30, we discussed how a pullback in Solana could offer another bullish opportunity as the market continued to develop within a larger bullish Elliott Wave structure. CLICK HERE

Since then, SOL has advanced as anticipated, completing the projected wave (5) of 3 on the daily chart. Now, the market is slowing down as a higher-degree wave 4 correction begins to unfold.

From an Elliott Wave perspective, this correction could develop into a three-wave ABC structure, meaning there may still be room for further downside before the next bullish move begins. The $100–$95 area is now an important support zone to watch, as it could provide a base for the next recovery.

Key Support Zone at $100–$95

The $100–$95 area is now the key zone to watch, as it could provide enough support for Solana to complete its wave 4 correction. If buyers step in and the corrective structure remains intact, we could see SOL turn higher and resume the broader uptrend within wave 5.

For now, it is important to allow the correction to develop and monitor the price action around support. While a deeper ABC decline remains possible, the bigger bullish Elliott Wave setup is still in focus, with the potential for another impulsive advance once wave 4 is complete.

For more analysis like this, you can watch below our latest recording of a live webinar streamed on October 12: