The Trust Layer for Market Analysts

The analysis on Solana suggests the market is in the fifth wave of a larger decline, having topped its fourth wave around January 14th. The primary scenario forecasts an ABC correction targeting the $90-$91 range. Before reaching this ultimate bearish target, a short-term bounce, forming a B-wave, is anticipated from the $120-$128 support zone, potentially reaching micro-resistance between $132.07 and $134.53. This bounce would then be followed by a C-wave decline to the $90-$91 target. The current price is around $129.35. An alternative bullish breakout scenario towards $138.37-$142.99 is acknowledged but considered less likely at this stage, requiring significant bullish confirmation. The bearish outlook would be invalidated if the price breaks convincingly above the upper resistance level of $142.99.