Solana Price Tests Support Amid Wave 4 Triangle Pattern
The Solana price continues to struggle, testing its support at $98 amid a Wave 4 triangle pattern. According to KuCoin, the current price of around $100.78 keeps it within this formation, with potential for further weakness before recovery can continue.
The Wave 4 triangle is unresolved while the price stays between its opposing boundaries, with the top trendline descending from the previous high price around $119 and rising support developing around $98 during the correction.
Rising stablecoin activity supports Solana's network relevance, but the technical setup shows unresolved short-term selling pressure. The chart marks additional downside references near $94, $91.57, and $90.46, while the $103 to $107 region remains the nearest overhead resistance.