Solana (SOLUSD) is showing early signs of recovery after finding strong support around the 60 level, where a potential fifth wave of an impulse within wave C of a larger ABC correction may have completed. The recent break above the descending channel resistance is an encouraging signal, but a sustained move back above the 100 level is still needed to confirm that a larger bullish reversal is underway.
For now, there is still a possibility of one final short-term dip toward the 50 area, potentially completing a wedge pattern in wave C before a more meaningful recovery begins. Until then, traders should remain cautious while watching for further confirmation.
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