Solana is trading near $95 after a sharp rebound from the $60 region, with analysts keeping bullish Elliott Wave scenarios alive on both short-term and weekly timeframes.
According to a one-hour chart shared by More Crypto Online, SOL is in a wave 4 consolidation following a strong third-wave advance from the mid-$70s toward $100. The key near-term level is the 23.6% Fibonacci retracement at $95.13, with additional support at $90.69 and $87.26. A corrective A-B-C structure suggests another decline toward lower Fibonacci levels remains possible before the correction completes.
The first upside hurdle sits around $99–$100. A sustained move above that zone would strengthen the case that buyers have absorbed the pullback, potentially shifting attention toward a fifth-wave advance with an illustrated target area of roughly $114 to $116.
On a weekly chart from analyst Rod, a more bullish higher-timeframe interpretation argues SOL may have completed a large A-B-C correction after falling from 2025 highs. The chart places SOL near $93.97 after a weekly gain of about 26%, with the recent low near $60 labeled as wave 5 of wave C. If that count is correct, the broader correction may be over, and Solana could be entering an accumulation and recovery phase. The main longer-term resistance and target zone is between $160 and $180, though reaching it would require reclaiming resistance near $100 and building momentum through the $120–$140 region.
The main risk to the bullish view is a decisive break below key support levels: losing $95.13 could expose the $90.69 and $87.26 zone, while a move below the recent correction low would weaken the higher-timeframe recovery scenario.
