bullish

Solana

Onyxcoin

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<p><a href="https://captainaltcoin.com/analyst-reveals-why-theyre-selling-all-their-solana-sol-holdings/" rel="noopener noreferrer nofollow">The price of Solana is now in a</a> correction, falling below important support levels as the crypto market gets more volatile. After hitting nearly $300 before, it’s now testing the $148-$160 range – an important area that could decide where it goes next.</p><p>On X, experienced financial trader Matthew Dixon talked about Solana’s price movement. He said this drop is just a deeper correction, not a long-term downward trend. Dixon expects this phase will be followed by an upward move that could push SOL to a new all-time high.</p><h2 class="wp-block-heading" id="sol-chart-analysis-elliott-wave-structure-suggests-potential-recovery">SOL Chart Analysis: Elliott Wave Structure Suggests Potential Recovery</h2><p>Solana’s movement follows Elliott Wave Theory – a five-wave upward move followed by an ABC correction. This includes a strong rise in Wave 3, a small pullback in Wave 4, and an attempt at new highs in Wave 5. After peaking,<a href="https://captainaltcoin.com/why-is-solana-sol-price-dropping/" rel="noopener noreferrer nofollow"> Solana’s price entered a correction showing</a> a typical ABC pattern.</p><p>An interesting part of this correction is a Wave B triangle formation, which suggests a brief consolidation before more downward movement. As Wave C seems to be finishing its decline, traders are watching the $148-$160 range closely to see if this level will hold and lead to an upward reversal.</p><figure class="wp-block-image aligncenter size-large"><img width="1024" height="700" src="https://captainaltcoin.com/wp-content/uploads/2025/02/image-874-1024x700.png" alt="" class="wp-image-640148"><figcaption class="wp-element-caption"><strong><em>Image Source: <a href="https://x.com/mdtrade/status/1894042841325683004" rel="noopener noreferrer nofollow">X/MattewDixon</a></em></strong></figcaption></figure><h2 class="wp-block-heading" id="solana-key-support-and-resistance-levels-in-focus">Solana Key Support and Resistance Levels in Focus</h2><p>Technical indicators suggest that the $148-$160 range is a key support level. If Solana’s price maintains its position above this zone, there is a possibility of a strong rebound. If the price falls below $148, we could see more losses.</p><p>Looking at resistance, the $250-$260 range that didn’t hold during the drop remains important. Breaking above this would show renewed upward momentum and possibly retest previous highs.</p><p>The RSI for Solana sits at 28.65, suggesting it’s oversold. When RSI hits these levels, prices often bounce back – we might see a recovery if buyers step in.</p><p>Dixon thinks that despite the recent drop, the market is still in a bullish phase overall. If this is a Wave 4 pullback, like he suspects, Solana’s price could push past $300 in the next move.</p><p><strong><em>Read Also: <a href="https://captainaltcoin.com/onyxcoin-xcn-price-struggles-below-key-resistance-is-recovery-on-the-horizon/" rel="noopener noreferrer nofollow">Onyxcoin (XCN) Price Struggles Below Key Resistance: Is Recovery on the Horizon?</a></em></strong></p><h2 class="wp-block-heading" id="solana-market-outlook-and-future-price-action">Solana Market Outlook and Future Price Action</h2><p>Traders are watching closely to see if Solana holds these key support levels. What happens in the next few days will show whether it can maintain its bullish structure or drop further.</p><p>Dixon’s view matches Elliott Wave analysis – this looks like a correction, not a long-term downtrend. If support holds, <a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">Solana’s price could make a strong move up</a> toward new highs.</p><p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p><div class="bigofferblock margincenter mb30 pt20 pl20 pr20 "><div class="col_wrap_two mb0"><div class="offerbox_big_wrap flowhidden"><div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" rel="noopener noreferrer nofollow"><img class="lazyload" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"></a></div><div class="product-summary col_item mobileblockdisplay"><h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" rel="noopener noreferrer nofollow"><span>We recommend eToro</span></a></h3><div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. 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Solana (SOL) Price Dips Below Key Support – Will It Bounce or Break?

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