SOL - Consolidation in Progress. Focus on Key Levels $165–$220 to Trigger New Directional Move

Market Ticker: SOL/USDT 

Date: February 3, 2025 

Strategic Scenario (6 to 12 months) 

Solana (SOL) remains structurally bullish on the strategic horizon as long as price action respects the $130 Strategic Support. The ongoing correction aligns with Wave (IV), a standard retracement phase before a continuation toward the long-term Strategic Target of $580. The bullish macro trend remains intact despite the current pullback. 

Neutral Tactical Scenario (1 to 3 months) 

Following the breach of the $210 Tactical Support, SOL has entered a consolidation range between $165 (Tactical Support) and $220 (Tactical Resistance). The rejection from $260 Tactical Target and subsequent sell-off have defined a sideways structure as the market seeks equilibrium. 

This consolidation zone will likely act as a decision-making area for participants, as both buyers and sellers vie for control over the next significant move. 

Directional Tactical Scenario 

• Bullish Case: A sustained move above $220 would confirm a breakout, opening the path toward the next upside target at $260 Tactical Target. 

• Bearish Case: A breakdown below $165 would intensify bearish momentum, exposing $130 Strategic Support as the next critical level. 

Technical Key Elements 

• RSI: Hovering near 42, signaling neutral-to-bearish sentiment, with a tested trendline showing a gradual decline. 

• Moving Averages: Flattening out, confirming range-bound price action. 

• Elliot Wave: Aligns with Wave (IV), suggesting potential for Wave (V) upon a breakout. 

• Fibonacci Levels: 

• Support: $165 and $130 

• Resistance: $220 and $260 

Trade Idea Conclusion (Neutral Bias = Range) 

🎯 Range Strategy: 

• Buy near $165, with a tight stop-loss below $160, targeting $220. 

• Sell near $220, with a stop-loss above $225, targeting $165. 

Chart: Daily Basis (Candle Stick) - Logarithmic  

Indicators: Exponential Moving Average (21/34/89) - RSI (21) 

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