3/06/2026
After several days of compression, Solana is now showing signs of entering Possibility #2. Based on the current Elliott Wave structure, if the green Wave 5 has completed, SOL could begin forming an ABC corrective pattern.
🎯 Wave 5 downside target remains around $80-$78, as Wave 5 often extends to a length similar to Wave 3.
📊 ICT Confirmation:
✅ Bearish market structure shift (MSS) is developing on lower timeframes.
✅ Liquidity has been swept above recent highs, creating a potential buy-side liquidity grab.
✅ Price is reacting from a premium zone and bearish order block.
✅ A break below the latest swing low would further confirm bearish continuation toward the projected targets.
Key levels to watch:
🔹 Resistance: Recent liquidity sweep highs
🔹 Support: $80-$78 target zone