The analysis suggests that SOLUSD reacted to a resistance area. The speaker prefers a yellow scenario, although both the white and yellow scenario share a support zone. A confirmed low isn't in place. The analyst believes wave two bottomed on August 2nd. The speaker sees wave 3 unfolding in five waves or as an ABC structure. A corrective pullback is anticipated, and as long as SOLUSD holds above 165.94, higher prices are still possible. The speaker also notes the existence of a trendline around 166, further supporting that price. The goal is a move towards 250 plus. Analyst identifies a 100% extension level to the downside to 176.98 as an ideal target.