The analyst is not broadly bearish on Solana. He is watching for another high, despite the deep pullback. He is tracking a 12 AB setup in the yellow scenario: wave one up, wave two down, and then AB. The B wave has found support in the area that was shared previously, the blue support zone, $150 to $160. However, he treats this as a not-so-relevant support area. The more relevant one is below, between $138 and $117. There is no evidence of a larger degree top that would take us to a new bear market low. The move to the upside from the April low is not impulsive. His preference is that this was a flat correction. The concern is with the structure afterwards because it really is a three-wave move up. The move to the downside also looks somewhat corrective, and we're still holding support levels. He would still prefer another high, but at the same time, he hasn't got any evidence that support is holding. Support seems to hold for now. To highlight, he hasn't got any local upside confirmation or uptrend confirmation. To see this, we need to see a break above $189, this is the last swing high. If we break above it, we could be really setting up for a rally to $300 plus.