The Trust Layer for Market Analysts

The analysis of Solana (SOLUSD) on the 1-hour timeframe presents two short-term scenarios based on Elliott Wave theory and Fibonacci levels. The primary and more probable short-term scenario is bearish. This scenario anticipates a corrective bounce, identified as Wave 4, into a micro resistance area between $132.07 and $134.53. Following this potential bounce, the market is expected to experience a further decline in Wave 5, with target prices around $122.89 and potentially as low as $119.97. The invalidation point for this bearish outlook is a decisive break above the yellow trendline, which aligns closely with the micro resistance at approximately $132.07. An alternative short-term bullish scenario is considered if a decisive break above this yellow trendline occurs, potentially opening the path towards an upper resistance zone between $138.59 and $142.99. However, the analyst maintains a bias towards the bearish "one more low" scenario at the current moment.