Automatic wave scan: as of 5 Nov 2026, the automatic daily count for Solana is Wave 5 down with a bearish bias. The count stays valid while price holds 124.95.
Current Solana wave count
Automatic wave scan Updated daily from the latest daily close (5 Nov 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: price is in wave 5, the final leg of a five wave decline that began at 110.60 on 27 Aug 2026. Next levels to watch are 81.47 and 76.33. The count fails on a daily close above 124.95.
Key levels
| Type | Levels |
|---|---|
| Resistance | 124.95 · 95.82 |
| Support | 70.58 · 83.98 |
| Invalidation | 124.95 |
What is Solana?
Solana is a blockchain designed for high speed and low cost. It was founded by Anatoly Yakovenko and launched its main network in March 2020. It combines proof of stake with a timing method called proof of history to order transactions quickly.
SOL is used to pay fees and to stake on the network. Solana had several network outages in 2021 and 2022, and its price fell more than 90 percent from its 2021 high before a strong recovery.
What moves the Solana price?
- Network activity: Busy periods for decentralized exchanges and meme tokens raise demand for SOL.
- Network reliability: Outages hurt confidence. Long periods without problems support the price.
- Institutional products: Funds and exchange traded products that hold SOL add new demand.
- Competition: Solana competes with Ethereum and its layer 2 networks for users and developers.
- Crypto market trend: SOL often moves two to three times as much as Bitcoin in the same direction.
How Solana moves in Elliott Wave terms
Solana has shown some of the clearest extended third waves in crypto, with very steep rallies and few pullbacks. Its corrections are equally sharp. A wave 2 retracement of 61.8 to 78.6 percent is common.
Because SOL moves fast, use percentage based stops and give the count room. The 4-hour chart is useful for timing, but the daily chart should set the main count.
Tips for counting Solana waves
Expect wide swings and keep position size small. Look for the 1.618 extension of wave 1 as a first wave 3 target, then watch for extension beyond it.
Solana key facts
Solana Elliott Wave FAQ
Why is Solana so volatile?
Solana has a smaller market value than Bitcoin and Ethereum and attracts a lot of speculative trading, especially in meme tokens. This leads to large moves both ways.
What is proof of history?
It is a way of time stamping transactions so the network can order them quickly. Solana uses it alongside proof of stake.
How deep are Solana corrections?
Pullbacks of 30 to 50 percent inside an uptrend have been common, and the 2022 bear market fell more than 90 percent from the high.
Sources and further reading
- Solana documentation (Solana Foundation)
- Solana (blockchain platform) (Wikipedia)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
