Solana Elliott Wave Update: Bear Market or Local Low
2 extracted signals · 0 resolved · 0 still active
More Crypto OnlineIndependent analyst profile- Source published
- 23 Jun 2026, 15:26 UTC
- Recorded by Tahlil Plus
- 23 Jun 2026, 15:38 UTC
AI-generated source summary
The analysis focuses on Solana (SOL) against both USD and BTC, utilizing Elliott Wave theory and Fibonacci retracements. In the SOL/USD chart, the primary scenario suggests a continued bearish trend, with the price having recently faced rejection from resistance levels between $89.405 and $73.181. The current price around $68.806 is viewed as potentially completing wave 2 of a larger downtrend. Key support levels to watch for a potential bounce are identified at $62.428 (50% retracement), $43.222 (61.8% retracement), and $31.951 (61.8% extension), with the ultimate target zone for wave C (and potentially wave II) lying between $48.785 and $31.951. The fail bound for this bearish outlook is considered to be above $90.405. On the SOL/BTC chart, a similar bearish sentiment prevails. The analysis indicates that SOL/BTC has been in a downtrend, possibly forming a corrective wave C. The target zone for this downtrend is identified between 0.000759 and 0.0003759. A break above 0.0009764 would be needed to invalidate the current bearish outlook, with the fail bound set at 0.0016161.
AI-generated summary based on the source content.
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