This update reviews Solana’s current market structure and pattern development using hand-built monowave charts and orthodox NEoWave logic.
6-Monthly Chart
Solana traced out a perfect 5-wave impulse pattern that completed at the end of 2021 followed by a correction that is still evolving. It doesn’t get much more textbook than this.
Blue (higher degree):
Wave-1 complete in 2021, Wave-2 in progress.
Blue trend= UP
Green (lower degree):
I have marked wave-(b) as complete. Wave-(b) exceeded the start of wave-(a) which makes this a running correction.
The price/time boxes are only a suggestion in a running correction as the market can drift much higher.
Green trend= DOWN
Monthly Chart
Tracking Wave-(c):
Wave-(c) will be a choppy, overlapping market through 2028. The time boxes give an expectation of the time that wave-(c) will consume.
Weekly Chart
Tracking Wave-c of (c):
Clarity at this point in wave-c is low. I have traced out a 5-wave impulse pattern to show the directional changes. Impulse waves should not be sitting in a parallel channel so this count will probably need to be adjusted as the wave progresses.
Bottom Line
Solana is in Wave-2 with Wave-c of (c) of 2 unfolding. Wave-2 is a running correction which means waves (b) and (d) of wave-2 can pull the market higher.