The analysis suggests Solana has likely bottomed at $176.69 on August 2nd. The analyst believes Solana is in a third wave upward, targeting a C wave which will be a five-wave move. Currently, the analyst is tracking wave one of wave C. If five waves emerge a wave two pullback is anticipated, which could set the stage for a wave three rally. The analyst considers $192.39 pivot point in the short term. The target is calculated to be 289.85.