- Solana’s five-wave bull structure has completed, confirming a major macro top in early 2025.
- Wave B’s deceptive bounce to the 0.618 Fib level is now reversing sharply into a Wave C crash.
- Elliott Wave targets $30–40 for SOL as bearish volume spikes and RSI divergence deepen.
In the volatile world of cryptocurrency, few assets have captured the imagination like Solana ($SOL). Once hailed as Ethereum’s speedy rival, Solana surged through 2024 and early 2025, fueled by explosive DeFi growth, NFT booms, and a frenzy of memecoin launches.
But according to veteran market analyst CryptoBullet, the party is over. In a series of prescient updates culminating in his November , post, the trader outlines a textbook Elliott Wave structure that spells trouble for SOL holders.CryptoBullet’s analysis traces Solana’s ascent to a classic five-wave impulse pattern, a hallmark of Elliott Wave Theory used by technical analysts to identify market cycles.
https://x.com/CryptoBullet1/status/1991124899079815272?t=SyrQM96eJ1sLznlVg_sdFg&s=19
Solana’s Parabolic Rally Ends as Textbook Elliott Wave Pattern Completes
Wave 1 kicked off in mid-2021 from rock-bottom levels around $20, building momentum through institutional adoption and network upgrades. Wave 2 corrected modestly, but Waves 3 and 4 delivered parabolic gains, with Wave 3 peaking amid the 2023-2024 altcoin renaissance. The finale, Wave 5, arrived in January 2025, coinciding with the absurd “blow-off top” of the TRUMP memecoin—a politically charged token that epitomized speculative excess, inflating to billions in market cap before imploding.This euphoric climax marked the end of the bull market, transitioning into an ABC corrective phase. Wave A plunged sharply, erasing over 50% of gains and shaking out leveraged positions. The anticipated Wave B retracement then unfolded as a deceptive bounce, reclaiming the 0.618 Fibonacci level—a key resistance derived from the impulse’s height.
Bearish Wave Structure Targets $30–$40: Solana Faces Its Harshest Decline Yet
As CryptoBullet noted in his May and October updates, this “trap” higher lured in latecomers before reversing. Now, with November’s monthly candle confirming the breakdown, Wave C—the most brutal leg of the correction—is underway.On the log-scale monthly chart, annotations reveal the precision: Point (A) at the post-impulse low, (B) at the Fib retrace high, and the current slide piercing prior supports toward 0.886 Fib extensions. Volume spikes on the downside, coupled with bearish RSI divergence, underscore conviction. CryptoBullet’s downside target? A grim $30-40 range, representing an 80-85% drawdown from recent highs. This aligns with historical crypto bear markets, where top altcoins like SOL shed 90% or more.The implications ripple across the Solana ecosystem. Memecoin traders, already reeling from TRUMP’s wipeout, face cascading liquidations.
From Euphoria to Collapse: The Final Wave Signals Deep Solana Correction
DeFi protocols on Solana—once buzzing with TVL highs—could see outflows as yields compress and user activity wanes. Broader market sentiment, tied to Bitcoin’s macro cycle, adds fuel: With BTC consolidating post-halving, altseason’s corpse is cooling fast.For investors, this is a call to action. HODLers should reassess risk, considering partial profit-taking or hedges via inverse ETFs. Builders on Solana might pivot to cross-chain resilience, while speculators eye oversold bounces for quick flips. CryptoBullet’s track record—nailing the Wave B top—lends weight; his November quip, “So good. So fucking good ,” captures the schadenfreude of a bearish thesis unfolding.As Solana navigates this storm, remember: Crypto’s cycles are ruthless but rhythmic. The Wave C purge could reset foundations for the next leg up—but only after purging the weak hands. Stay vigilant, stack sats, and trade smart.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
