BEARISH 📉 : Solana nears $78 support as bearish structure signals further downside
Bearish waves grip Solana (SOL). Price nears the $78.33 support as oversold signals appear.
Elliott Waves Academy says bearish control holds on the 1-hour chart. The decline looks impulsive, with waves 3–5 unfolding inside wave (1)/(A) source.
Price approaches the 100% extension and a key support at $78.33. This zone can spark a reaction or a short bounce analysis.
A wave 2 corrective rebound can form short term. Often sharp and channeled in counter-trend moves detail. A break below support during or after this bounce would confirm the bearish trend.
Weekly RSI echoes early 2022 conditions before the final bottom, says More Crypto Online comment.
February’s oversold RSI was flagged as a possible recovery signal. But without price-structure confirmation, it can mislead in a downtrend context. A clear impulsive move up is needed to improve the outlook condition.
