SOL Has Drifted Into Key Support—What's Next?

Solana (SOL) has drifted into the critical Fibonacci support zone on the daily chart, landing right where analysts have been watching since late 2025. The current price of $80.78 sits in the very area that was identified as the long-term target for the C-wave decline. This convergence of price with technical support is exactly the type of setup that deserves careful attention from traders.

The Fibonacci Zone and Two Wave Counts

The technical picture presents two plausible interpretations. The first scenario (orange count) suggests the recent drop from the 2025 high completed a clean ABC pattern, potentially marking the end of a larger wave (iv). The second reading (white count) interprets the current situation differently—seeing it as wave A of a bigger, more extended corrective structure. Given the current market context, the white count seems more aligned with how the broader market is behaving. Under this view, a bounce from current support levels would be expected, though additional support could extend slightly lower toward $62 if needed.

Reading the Bounce Setup

Should SOL bounce from here, the recovery would likely be corrective in nature rather than a fresh impulsive trend. This means we’d probably see an ABC-style move rather than a powerful five-wave advance. The structure from the February low showed only a three-wave move—not the kind of signature strength you’d want to see for a sustained bull run. A more meaningful upside test toward the January high near $150 remains possible over the coming months, but it’s premature to call a bottom confirmed.

Confirmation Signals to Watch

The real turning point would come if SOL breaks above $88 and maintains strength through $91.30. That combination would be the first meaningful signal that a more durable push higher is actually developing. Until then, traders should treat any recovery as part of a corrective phase, with a cautious eye on both the upside targets and the lower support zone.