The Trust Layer for Market Analysts

Solana (SOLUSD) is analyzed with a predominantly bearish outlook. On the daily timeframe, the expectation is for a 5th wave decline, targeting the area between $90 and $81.50, following a confirmed top of wave 4. On the 1-hour timeframe, the current downside momentum is anticipated to continue, extending a 3rd wave towards the $119-$123 region. A bounce is expected from this level, likely to be rejected at the micro-resistance area of $129-$134.50. A break above $142.39 on the 1-hour chart would invalidate the immediate short-term bearish outlook. The overall thesis remains that the larger wave 4 has topped, paving the way for further downside.