Solana Price at Technical Crossroads Amid Wave 4 Correction

Solana's price has been in a state of flux after a sharp rally gave way to short-term selling pressure, leaving it at a technical crossroads. The one-hour chart suggests possible downside towards $94.83-$90.46, while the daily structure shows a potentially bullish moving-average crossover developing beneath price.

The correction is seen as part of Solana's Wave 4 by More Crypto Online, which also highlights the Fibonacci retracement marks at $94.826 and $90.458 as key support levels. A reaction above $94.83 would strengthen the case that the correction is approaching completion, while a sustained break below $90.46 would weaken the displayed wave structure.

The daily chart shows a potentially bullish moving-average crossover developing beneath price, with the 50-day simple moving average closing in on the 100-day average. Confirmation of this crossover would come from the 50-day SMA moving decisively above the 100-day SMA while Solana continues to hold above its recent breakout region.

Solana's price was around $100 early Thursday, September 3, after being among the major cryptocurrencies pressured during Wednesday's broader risk-off move. The technical signals point to different time horizons rather than directly conflicting outlooks, with Solana potentially extending its short-term correction while maintaining an improving daily trend.