{"id":176924,"date":"2026-06-08T16:30:48","date_gmt":"2026-06-08T16:30:48","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=176924"},"modified":"2026-06-08T16:30:48","modified_gmt":"2026-06-08T16:30:48","slug":"solana-wave-4-in-progress-relief-bounce-or-setup-for-a-fresh-decline","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=176924","title":{"rendered":"Solana Wave 4 In Progress: Relief Bounce Or Setup For A Fresh Decline?"},"content":{"rendered":"

After a steep selloff that reinforced bearish momentum, Solana appears to be entering a period of consolidation as Wave 4 unfolds. Such corrective phases often offer short-term relief and can also serve as a launching pad for the next leg of a downtrend. As the market searches for direction, the key question remains whether buyers can build a meaningful recovery <\/a>or if another decline is waiting around the corner.<\/p>\n

Wave 4 Correction Takes Shape Amid Cooling Selling Pressure<\/h2>\n

Analyzing Solana\u2019s wave outlook on the 30-minute time frame, Elliott Waves Academy noted<\/a> that the pair may be gearing up for another significant downside move following a decisive breakdown from its price channel. The recent decline has reinforced bearish sentiment<\/a>, with price action signaling that sellers remain firmly in control of the broader trend.<\/p>\n

According to the analysis, Solana has already reached the 261.80% Fibonacci extension level, suggesting that wave 3 has completed. As the strongest and most impulsive phase of the trend, wave 3 has played a key role in driving the current bearish structure<\/a> lower.<\/p>\n

With wave 3 finished, the market appears to have entered wave 4, a corrective phase that typically follows an extended decline. Given the aggressive nature of wave 2 earlier in the sequence, wave four is expected to be more subdued, likely developing through sideways consolidation or a corrective triangle formation as the market temporarily stabilizes.<\/p>\n

Once the corrective structure is complete, attention will shift to the next bearish leg. A breakdown below the key support level of the correction<\/a> could trigger wave five, opening the door for a decline toward the $81.33\u2013$78.69 zone, representing the next downside targets for bearish traders.<\/p>\n

Three Months Of Consolidation Unleash A Powerful Breakout For Solana<\/h2>\n

Crypto analyst Daan Crypto Trades pointed out<\/a> that Solana delivered the expected 20\u201330% move after finally breaking out of its multi-month trading range. Such explosive price action is often seen after extended periods of consolidation, where volatility remains compressed before a decisive breakout<\/a> triggers a strong directional move.<\/p>\n

The analyst emphasized the importance of waiting for confirmation. Once price escapes a range that has held for more than three months, momentum<\/a> tends to accelerate rapidly, creating sizable opportunities for traders who react to the confirmed move rather than trying to predict it.<\/p>\n

Solana is now retesting a crucial weekly support level. According to Daan, this area represents one of the last major support zones on the chart, making it a critical battleground for bulls. Holding this level and reclaiming key horizontal resistance levels above could help restore bullish momentum and strengthen the case for another upward leg.<\/p>","protected":false},"excerpt":{"rendered":"

After a steep selloff that reinforced bearish momentum, Solana appears to be entering a period of consolidation as Wave 4 unfolds. Such corrective phases often offer short-term relief and can also serve as a launching pad for the next leg of a downtrend. As the market searches for direction, the key question remains whether buyers […]<\/p>\n","protected":false},"author":0,"featured_media":176925,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-176924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/176924"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=176924"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/176924\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/176925"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=176924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=176924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=176924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}