Solana (SOL) price remains in a corrective phase after completing a major impulsive Elliott Wave cycle. Price continues trading inside a deep retracement zone, showing weak macro structure and lack of confirmed bullish continuation.
Technical indicators suggest bearish dominance, while ecosystem developments provide limited short-term support for overall market sentiment direction.
SOL Price Analysis Elliott Wave Structure
Solana (SOL) price on the 4D timeframe shows a long-term Elliott Wave structure where a major impulsive cycle has completed, followed by a corrective phase.
SOL Price is currently trading in the $50–$65 range, reflecting a deep retracement zone and ongoing macro correction rather than confirmed bullish continuation forming at this stage.
According to the crypto analyst More Crypto online, structurally, the orange Fibonacci correction zone suggests a potential wave (ii) pullback within an ABC correction.
Price fluctuates between $48.7 and $31.9, with deeper support near $17.5, indicating possible wave C completion and ongoing accumulation or further downside risk in market structure depending on liquidity and market reaction zone.
Upside projection uses blue Fibonacci extension levels outlining macro bullish targets if wave three expansion begins in Solana price structure context formation now continuing.
Key levels align at $431, $784, and $1,683, but require reclaiming $230–$250 resistance for confirmation; otherwise, the trend remains corrective until breakout structure confirms momentum.
Also Read: SOL Price Enters Accumulation Phase After Extended Downtrend, Targets $100
Technical Setup Suggests Limited Upside Potential
According to the TradingView chart, the RSI looks like it is running out of momentum and moving towards 37, with its moving average sitting at around 45.7.
The bears continue to dominate, but it does look like there could be some sort of temporary stop or rebound. By remaining below the midline, the RSI indicates that the sellers are still on top despite some positive movement.
This means that the MACD is suggesting a negative outlook since the histogram reading stands at -0.01340, the MACD line is standing at -0.80381, while the signal line is standing at -0.79040.
Although the histogram has been hovering above the zero level recently, there seems to be little momentum, and an upside move seems to depend on continued buying strength.
Loopscale Earn Boosts Solana DeFi Growth
Despite the price action, Loopscale Earn is here, injecting a new wave of energy into Solana that helps make the network even more useful.
With its ability to create vaults, lend money, and automate yield strategies, it will improve the effectiveness of its DeFi capabilities and help push the ecosystem in the right direction.
However, while Loopscale Earn may have been launched, it doesn’t mean that it is the only factor pushing the price higher. There are still many other factors that affect the overall state of the crypto market as well as the price of SOL itself.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: SOL Price Near Key Support as Institutional Adoption of Solana Accelerates
