SOL Correction Nears End as Bulls Target $220-$250
Solana correction phase is ending; analysts eye a bullish breakout toward $220–$250 in the coming wave.
- SOL’s price correction is nearly complete on the 1D chart.
- Technicals indicate a bullish breakout forming above $216.
- Wave 5 projection targets a range of $220–$250.
SOL Price Correction Nears Completion
Solana (SOL) is showing strong signs that its recent correction phase may be wrapping up. According to technical analysts tracking the 1-day chart, the asset appears to be finishing Wave 4 of the Elliott Wave pattern, typically followed by a sharp upward move known as Wave 5.
This phase of consolidation, which saw SOL retrace from recent highs, is characterized by weakening bearish momentum and bullish patterns forming near key support levels. The Relative Strength Index (RSI) has bounced off neutral zones, signaling that buyers are beginning to step back in.
Target Zone: $220–$250 for the Next Wave
With indicators flashing bullish signals, experts anticipate the next move could send SOL to the $220–$250 zone. This projection aligns with common Fibonacci extension levels and historical resistance zones.
One of the critical levels to watch is $216–$217. A decisive breakout above this resistance, especially with increasing volume, would confirm the transition from the correction to the next bullish impulse wave.
Past patterns also support this bullish scenario. SOL has a history of making strong recoveries after correction phases, often rallying quickly once a technical breakout is confirmed.
What to Watch Moving Forward
Traders should keep a close eye on the $216 resistance zone. A daily close above this level, backed by strong volume, could mark the beginning of a new rally. RSI trends and MACD crossovers will also be key confirmation tools.
If the current bullish setup holds, SOL may rally toward $225, then test higher levels at $231 and potentially $250. However, a failure to break $216 might lead to continued sideways movement before a new leg up.
Read Also:
- XRP Price Prediction: Analysts Warn $0.85 Could Be Next As Traders Exit Into Upcoming Payment Token
- Top Presale Tokens for June 2025: Nexchain, Remittix & DAWGZ
- Fed May Start Interest Cuts in July
- AAVE Price Prediction 2026 Signals 72% Growth While Qubetics Enters Final $TICS Sale Stage
- Parataxis Acquires Bridge Biotherapeutics to Launch Korea Bitcoin Treasury
