Solana holds above $95, targets $114 on bullish wave count, eyes $160–$180 zone

Wave 4 Correction Shapes Short-Term Outlook

Following its break above the mid-$70s, Solana has entered a consolidation phase that analysts interpret as a wave 4 correction within the Elliott Wave framework. Recent data places SOL near $95.92, just above the key 23.6% Fibonacci retracement at $95.13, keeping the bullish structure intact for now.

Additional possible support appears at $90.69, marking the 38.2% Fibonacci level, and at $87.26, the 50% retracement. These levels create a broader support area if Solana’s current base fails to hold.

Analysts note that the pullback follows a strong third-wave surge, which took SOL from the upper $70s to around $100. The correction is mapped as an A-B-C pattern, indicating that further downside toward these lower Fibonacci levels remains possible before the present consolidation completes.

Immediate resistance is in the $99 to $100 range. A clear move above this level could signal that buyers have absorbed selling pressure and are ready to refocus on higher targets beyond $100.

If Solana successfully maintains support, technical projections point toward a potential fifth-wave advance, targeting the $114 to $116 area. However, realizing this scenario requires a completed correction and sustained move above local resistance.

For now, Solana’s bullish trajectory appears intact as long as it stays above the identified Fibonacci support. Should $95.13 give way, the risk of a further drop to $90.69 or $87.26 increases, while a recovery past $100 would reinforce the idea of a completed wave 4 and open the path to higher levels.

Long-Term Recovery Eyes $160–$180 Targets

A broader time frame paints a potentially even more optimistic picture. On the weekly chart, Solana recently posted a 26% gain, rebounding from the $60s to near $94. Analyst Rod interprets this as the completion of a major A-B-C correction, with the final low labeled as wave 5 of wave C.

If this Elliott Wave count holds true, the lengthy correction from Solana’s 2025 peaks could be complete, setting up a shift from downward pressure to a phase of accumulation and potential price recovery.

The next major upside target spans $160 to $180, where significant historical resistance remains from earlier trading ranges. Before tackling this zone, Solana must first reclaim resistance near $100 and generate upward momentum through the $120–$140 corridor.

The path to higher levels is not expected to be linear; analysts anticipate intermittent pullbacks and consolidations as SOL works to establish a higher-low structure. The failure to hold recent correction lows would undermine this bullish scenario and make another move lower possible.

The near-term trend will largely depend on how Solana behaves around the $95.13, $90.69, and $87.26 supports, while retaining the recent low on long-term time frames could be a fundamental condition for recovery attempts to reach $160 to $180.