Solana Analysis: Is This Just a Bear Market Rally?

Added: 2026-05-16

[00:00:00]The Solana chart is still working on this move to the upside, this C-wave that we've that we've been tracking. Um, we have to be very clear here about the higher time frame. Um, because the higher time frame suggests we're working on an ABC structure. Yeah. So, Awave up, Bwave down, Cwave up. That could be a wave B or it could be a wave four. It's a corrective move up at the moment.

[00:00:26]Yeah. Clearly um the target zone is between $110 and $138.

[00:00:32]We can add this target zone also to our smaller time frame. I think it is already. It is already. We need to understand that this rally which is a three-wave move could complete all of the Bwave before we go lower to complete a much larger correction. Yeah. So it could it could really complete all of this all of this Bwave. Um, but a B-wave rally can always extend, it can always stretch. So, please be flexible in this move up. But for now, it's unfolding as per our Q2 update. You know, the Q2 video update that I released a few weeks ago on the MCO Global channel and also on X. Um, it highlighted the potential for higher prices. I was quite concerned that this bounce was too weak and now it's finally getting now we're finally getting there. Now, how did we define the target for this C-wave to the upside? It's quite simple. We take the Fibonacci extension tool. We measure the length of the Awave, the first move up, which topped here in March. Then a B-wave pullback and the C-wave to the upside should be a fivewave move up from the B-wave low in April. Now I think it is important to recognize that also on the sole chart the market might be working on some kind of a parallel trend Center.