Solana Stuck Between Breakout and Bearish Wave Count

Solana's price action has been closely watched by traders in recent days as it navigates a potentially bullish higher-time-frame setup and a more cautious short-term wave count.

The cryptocurrency traded near $103 on Wednesday, September 9, down about 0.3% over 24 hours but up roughly 3.9% over seven days.

One technical perspective suggests that if Solana can hold or reclaim its support at around $100, it could strengthen the case that the old resistance has flipped into support and pave the way for a larger upside scenario.

However, another chart warns of another SOL decline, suggesting that the bearish structure is choppy and has not been fully confirmed. This scenario would see Solana potentially move toward the mid-$90s before buyers regain control.