1. Momentum and Key Decision Points

• SOL’s price is compressing into a tight structure, indicating reduced volatility.
• The chart shows two pivotal zones:
  1. Macro corrective target: $49.26–$32.03 (50%–61.8% Fibonacci retracement)
  2. Mid-range support: ~$133 level
• These zones are critical—how SOL reacts here will likely determine its next major trend.

2. Elliott Wave Analysis

• Wave count: SOL recently completed wave (1)/(A) of a larger bullish structure.
• Implication: Breaking below the key level signals a deeper corrective phase underway.
• Correction target: $49–$32, which would align with historical retracements.
• Bullish confirmation: A decisive breakout above the recently broken key level.
• Bearish invalidation: A move below $8 would signal a major structural breakdown.

3. Technical Compression Setup

• Current chart pattern: SOL is tightening, showing reduced volatility → typically precedes a decisive move.
• Support focus: $133 region has historically acted as a strong reaction point for buyers.
• Trading strategy:
  • Let price revisit the $133 zone.
  • Look for confirmation signals: wicks, bullish engulfing patterns, or volume spikes.
  • Avoid chasing the market; act only on confirmation.

4. Key Takeaways

• Short-term: SOL may continue a corrective phase toward $133 or deeper if broader markets weaken.
• Medium-term: Price behavior at $133 (or lower corrective targets) will validate whether buyers step in for a renewed uptrend.
• Risk management: A move below $8 invalidates the bullish thesis; maintain stops accordingly.