Since the light green wave 2’s low at $133.18, Solana has been working on wave 3, which should develop via a green five-wave substructure. Currently, the internal wave [ii] correction should still be in progress, as no significant upward impulses have emerged thus far. Accordingly, we anticipate further declines, but the price should transition into the subsequent green wave [iii] above the support at $133.18. If the coin falls below this key level, our 30% likely alternative wave count will come into play. On the other hand, Solana has already tested important levels during wave [ii], so we cannot rule out an immediate rally above the resistance at $264.32.
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