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Solana’s Price at Critical Support Zone Amid Market Correction
Solana's price is currently in a crucial support zone, which will determine the potential for a bullish wave. The market correction since mid-September has brought SOL to this defining moment.
Key Support Zones
- The first major support zone ranges between $138 and $118. The market is testing this area, but there is insufficient evidence of confirmed support.
- If Solana breaks below $117–$118, the focus may shift to a deeper correction, targeting the $90 to $62 range.
Micro-Timeframe Importance
- A weekly support zone gains significance when lower time frames show clear 5-wave impulse structures from lows, indicating strong buyer action rather than temporary reactions.
- Without these impulses, any bounce remains unconfirmed, signaling only a reaction to the area rather than a true bottom or bullish reversal.
- Monitoring micro price action on 15-minute, 1-hour, and 4-hour charts helps identify whether buyers are defending levels with conviction.
- Until a structured 5-wave move is evident from a low, both higher and lower support scenarios remain possible.
