- SOL reaches the Wave B zone as the monthly candle shows weakness near the 0.618 level which completes this part of the model.
- The chart shows a projected Wave C path that falls toward the 0.886 Fib region where earlier support formed during past cycles.
- RSI shows a clear lower high while price forms a higher high which matches a bearish setup on the long frame.
Solana reaches the Wave B target on the monthly chart while the pattern shows a completed move near the 0.618 Fib area as the structure now opens the model path toward a possible Wave C decline that extends toward the 0.886 Fib region shown near the earlier support band. The candle forms during a period with two weeks remaining in the month as the market reacts to the completed Wave B phase.
Wave Structure Shows Completion of the B Leg
The chart presents a five-wave advance followed by a corrective structure. Wave five forms the blow-off top that marks the peak of the move. The market then begins an ABC correction pattern with Wave A completed earlier in the chart.
Price rises into Wave B and reaches the marked target. The 0.618 Fib retracement level sits near the upper zone of the move. The chart confirms the completion of this level with a check mark placed at the top of Wave B.
Wave B forms after a clear rejection from resistance near the prior trend level. The candle interacts with earlier supply zones before rolling downward. This move aligns with the shape of a standard corrective pattern on the monthly frame.
The structure now points toward a possible Wave C move. Wave C projects sharply lower with the dashed path drawn on the right side of the chart. The target sits near the 0.886 Fib zone, which supported price earlier in the cycle.
Market Risk Shown Through RSI Divergence
An RSI line appears under the price chart. The line shows a sequence of lower highs. Price above forms higher highs, which creates a bearish divergence.
The divergence appears near the peak of Wave five and continues into the Wave B zone. The separation between price and RSI reflects weakening strength. This condition matches the narrative of a completed B wave within a corrective model.
The divergence extends across several months. Earlier periods show RSI rising with price during bullish phases. The shift during this latest period signals reduced momentum.
The chart uses this pattern to support the idea of a larger corrective movement. The divergence appears at major turning points across the chart and aligns with the new projected downward path.
Support Zones and Fib Levels Indicate the Next Key Areas
The potential Wave C target lies near the 0.886 Fib level. This area marks the broad support region noted on the chart with a shaded band. Price reacted strongly to this area during an earlier correction around wave two.
Several horizontal lines mark significant levels in earlier phases. These include the base area under the 2022 consolidation zone. The possible C target sits directly inside this region.
The projected curve for Wave C follows a smooth decline toward this support. The structure maintains alignment with a standard ABC corrective path on higher time frames. The move mirrors earlier structures where price retraced deeply after major peaks.
The central question becomes whether Solana begins the extended Wave C path toward the 0.886 Fib support or forms a short break before deeper movement.
