Solana in the Blue Zone: Traders Battle Wave 3 Now

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Solana, a rumor moving with patient grace, brushed a blue threshold on the four‑hour glass; the traders, with a wry smile, await a modest five‑wave impulse to declare Wave Two awake.

Solana bleeds not with a blaze but with the gentle ache of a winter morning, where every little bounce is swallowed by the market’s iron teeth before it has time to breathe.

The SOL/USD pair hovered around $82-$84 on April 30, still grinding at the margins of a corrective structure that has lingered since the prior impulsive ascent crowned its peak.

The Blue Zone Nobody Was Watching Until Now

According to @moretradingonl on X, the price has now reached the blue target zone on the 4H chart. The analyst laid out the plain truth: SOL needs a micro five‑wave move upward and a break above the green signal line to confirm that Wave 2 has found its bottom, as if the market could be coaxed into a polite lunch without words.

The price has reached the blue target zone now. We need to see a micro five‑wave move up and break above the green signal line for an indication that a low in wave (2) has formed.

– MCO Global (@moretradingonl)

That’s the whole condition. Two things. Neither has happened yet.

The blue zone likely marks a Fibonacci confluence area-the kind of place where Wave 2 corrections tend to find a floor, often between the 50% and 78.6% retracement of the preceding Wave 1 move. Wave 2s are patient. They take what they need, like a guest who never leaves until the tea goes cold.

What @moretradingonl is describing is a textbook Elliott Wave decision point. Price reaches deep support, stalls. Then either the structure repairs itself with a clean five‑wave push-or it doesn’t, and the count extends, perhaps just to spite us all.

What Actually Needs to Happen

The green signal line mentioned likely represents a descending resistance connecting recent corrective highs on the 4H. Breaking above it would signal that sellers are losing grip, and the room lights flicker with a half-ironic hope.

Previous Elliott Wave analysis of SOL has flagged similar inflection setups, where Fibonacci zones and wave structure align to mark potential bottoms. The pattern isn’t new. The confirmation requirements always are, like a stubborn chorus asking for one more note.

Without the five‑wave micro impulse on a lower timeframe – the 15‑minute or 1H – the bounce doesn’t count. A two‑ or three‑wave recovery that stalls below the green line tells a different story. It suggests the correction isn’t done, and the plot thickens with the patience of a winter plot twist.

One Level That Changes Everything

The $79-$82 zone is the primary cluster to watch. That’s where the blue zone sits, and that’s the line between the current count holding and something messier taking shape, like a rumor that refuses to lie down.

A breakdown below $79 on volume would complicate the immediate bottoming thesis. The 0.618-0.786 retracement of Wave 1 sits deeper, possibly in the low‑to‑mid $70s depending on where Wave 1 originated – exact level unspecified in the post. The kind of detail that matters when everything else breaks and the narrator loses his place in the margin notes.

If the setup plays out as @moretradingonl suggests, Wave 3 becomes the next conversation. Wave 3s in Elliott theory are typically the strongest move of the sequence. Targets in the $100-$150+ range have circulated in broader SOL counts, though nothing was specified in the April 29 post.

For now, SOL is sitting in a zone. Waiting on a five‑wave move most traders haven’t seen yet, as if a final page will appear in the sunlit margins of a long letter.

Disclaimer: This article is based purely on technical analysis shared by the cited source. It does not constitute financial or investment advice.

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2026-04-30 19:27