Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Solana(SOL) is showing early signs of recovery as price action begins to stabilize within a defined channel following its recent pullback. With selling pressure easing and buyers gradually stepping in, momentum appears to be shifting toward a potential corrective upswing. Corrective Recovery Scenario Takes Shape
Presenting a wave outlook for Solana on the 1-hour timeframe, Elliott Waves Academy highlightsa potential shift in short-term structure. Momentumappears to be cooling on the downside, opening the door for a corrective phase that could reshape the near-term trend. Related Reading Solana (SOL) Edges Up, Traders Watch For Sustained Upside Move 4 days ago
One of the more probable scenarios suggests a recovery unfolding through a corrective wave, potentially identified as wave (2)/(B). Such a move may develop into a double zigzag structure, a pattern often seen when the market attempts a deeper retracement with buyers gradually stepping back into the market.
A decisive breakoutabove the upper boundary of the current diagonal pattern would provide early confirmation of this recovery setup. Strength would be further reinforced if price manages to clear the key level associated with the previous bearish wave, signaling that selling pressure is weakening. Source: Chart from Elliott Waves Academy on X
From a Fibonacci perspective, the anticipated recoveryzone lies between the 50% and 61.8% retracement levels of the prior downward move. These levels often act as magnets during corrective phases, with the potential for an extended push toward the 78.6% retracement if bullish momentum builds.
For a broader bearish wave to occur, this retracement region must act as a strong resistance zone where sellers regain control. A noticeable increase in selling pressure here could trigger the next leg of the decline. However, if Solana begins to form impulsive waves while maintaining a pattern of higher lows, without revisiting the previous bottom, it would increase the likelihood of a more sustained upside move beyond the corrective phase. Solana Taps Reversal Zone, Early Bounce Emerges
According tocrypto analyst BitGuru, Solana has moved into a key reversal zone, where price is showing early signs of a bounce following its recent decline. The reaction in this area suggests that the market may be attempting to establish a short-term floor, with buyersstarting to respond to the discounted price levels. Related Reading Solana Tightens Range: Breakout Brewing As Correction Nears Completion 2 weeks ago
At the same time, selling pressure appears to be gradually easing, pointing to a slowdown in bearish momentum. As downside strength fades, conditions often become favorable for buyers to step in, particularly in zones historically associated with demand.
If Solana can maintain supportabove this level and continue forming higher lows, the ongoing bounce could develop into a more structured recovery. Such a move may pave the way for a push higher, with price potentially targeting the upper boundary of its recent range if bullish momentum continues to build. SOL trading at $83 on the 1D chart | Source: SOLUSDT on Tradingview.com Featured image from Pngtree, chart from Tradingview.com