SOL/USDT – Potential Final Leg Down Before Major Rally

🚀📉🔁
We are likely approaching one of the final moves down before a significant push higher. But before that, I expect one last move up to the $142 area, forming what I believe is a Red ABC corrective structure.
🔴 Red Wave A-B-C

Red Wave A has likely already completed, confirmed by a clean White ABC move.

We are now inside Red Wave B.

✅ Ideal Long Entry Zone

The ideal entry would be near the 88.7% Fibonacci retracement, which aligns with Green Wave B around $119.4.

From that level, I expect a drop down toward $100, completing Red Wave B.

🔄 What Comes After?

From the $100 zone, two possible scenarios for Red Wave C (or Wave 1 of a new impulse):

A 1-2-3-4-5 impulsive wave structure to the upside

Or a corrective A-B-C structure

We’ll need to carefully watch the first move out of the $100 zone:

A 5-wave move would suggest a new bullish impulse has begun

A 3-wave move might just be a larger corrective rally

🎯 Upside Target: $142

Once we hit $142, I anticipate another corrective move downward.
This could take the form of:

A clean ABC

A complex correction (A-B + 1-2-3-4-5)

Or even a direct impulsive 5-wave drop

Again, the key is watching the first leg down from $142 – whether it's impulsive or corrective will define the entire next phase.
⚠️ Summary:

Current focus: Entry near $119.4 (88.7% Fib), targeting $142

Caution: Expect volatility – structure will only become clear wave by wave

Watch: Reactions at $100 and $142 for structure confirmation

Let me know what you think below!
Like & follow if you enjoy deep EW breakdowns!

Trade active

Note

Looking good so far, we stay in the area of the fib sell zone. But we need to get more momentum. Maybe we can see a move to the dowisde with the next news.

Trade closed: stop reached

We can see that the ABC structure hasn’t completed yet.
Initially, we identified an ABC correction, but the move from B to C didn’t unfold as an ABC pattern as expected — instead, it developed as a 1-2-3-4-5 impulse.
Now, we’re looking for another lower low to potentially form a higher B wave, followed by the final move down to complete wave C.

ElliotXSolana

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

ElliotXSolana

Also on: