SOL Tests Fibonacci Support Zone—Is Wave 4 Nearing Its End?

Solana (SOL) has descended into the Fibonacci support region that technical analysts have been monitoring closely on the daily timeframe. According to the prevailing wave theory perspective since November, the market has been advancing through a corrective rally labeled as wave 4, which was expected to eventually conclude with a decline toward the $81.50 level. This price point represented the ultimate target for the C-wave downswing, and currently SOL has essentially reached this area. The latest data shows SOL trading at $80.26, confirming proximity to this critical technical zone.

Fibonacci Support and Technical Validation

The Fibonacci retracement levels continue to serve as important guides in this analysis. From a structural viewpoint, two primary interpretations are possible. The orange wave count suggests that the sell-off from 2025’s peak completed a straightforward ABC pattern, potentially marking the conclusion of a larger wave (iv). In contrast, the white count interpretation reads this decline as merely wave A within a more expansive corrective formation. Currently, the white scenario appears more consistent with the broader market environment and macro conditions. This framework would permit a bounce from current support levels, though technical support technically extends somewhat deeper toward the $62 region. However, any upside movement from this area would likely remain corrective—probably taking an ABC structure—rather than signaling the commencement of a full impulsive uptrend.

Decoding Wave Patterns: Critical Price Levels Ahead

The structure of recent price action offers limited confirmation of decisive strength. The initial bounce that emerged from February’s low only produced a three-wave advance—hardly the hallmark of authentic impulsive energy. A potential 1–2 setup appears to be forming, though it remains unconfirmed at this stage. The near-term resistance levels deserve attention: if SOL manages to clear $88 and subsequently surpasses $91.30, that would represent the first genuine confirmation that a more sustained advancement could be taking shape.

Medium-Term Outlook and Fibonacci Targets

A retest of January’s high near $150 remains within the realm of possibility across the coming months, but the path higher is not assured at this juncture. The market has not yet established a conclusive bottom, which means caution remains warranted. The Fibonacci framework suggests that support levels provide natural gathering points, but until price demonstrates true impulsive structure above the $91.30 mark, the corrective thesis remains the more prudent interpretation.

Traders monitoring SOL should watch for that $88 breakout as the initial signal. A decisive move above this level followed by sustained trading above $91.30 would suggest that recovery momentum is genuinely building. Without this confirmation, the Fibonacci support zone may simply represent yet another waypoint in an ongoing corrective sequence rather than the springboard for a major rally.