- More Crypto Online believes $SOL is still completing an extended wave 4 correction, not in full-blown bear mode.
- The analyst anticipates a final c-wave leg down but stresses current support cluster remains perfectly intact.
- Once the c-wave low prints, Solana should launch into its strongest impulse wave of the entire cycle.
More Crypto Online just threw cold water on the Solana doomer narrative, declaring that the current drawdown is nothing more than a textbook—but painfully stretched—fourth-wave correction. “$SOL: Support for wave (4) still intact. A final c-wave low wouldn’t be unusual. Solana just stretching before whatever’s next,” the analyst posted on December 5 alongside a detailed wave count. His chart shows Solana trapped in a massive purple wave 4 box that began after the March 2024 all-time high, with price currently grinding along the lower boundary near the 0.618 Fibonacci zone and the previous wave 4 low from late 2023.
Far from calling for a multi-year bear market, More Crypto views the entire 70%+ retrace as healthy profit-taking inside a larger five-wave supercycle advance that began at the 2022 bottom. The prolonged flat correction, while frustrating, is actually bullish in his framework: the longer and more complex the fourth wave, the more explosive wave 5 tends to be. Key to the thesis is the cluster of support still holding firm—$120–$140 region containing the 0.618 retracement, prior fourth-wave extreme, and 200-day EMA. As long as that zone survives, the bullish scenario remains fully on track. A final c-wave flush into the low $100s or high $90s would simply tag the lower trendline of the multi-year channel and complete the a-b-c structure before the markup phase begins.
Market participants screaming “Solana is dead” are missing the forest for the trees, according to More Crypto. The network continues to post record daily active users, fee revenue, and DeFi TVL growth even during the price pain—classic fourth-wave divergence.
Once the eventual c-wave low is in, the analyst expects Solana to deliver its most violent leg higher of the entire bull market, potentially targeting $400–$600 in the coming 12–18 months. For now, patience is required. Solana isn’t dying—it’s coiling. And when this fourth wave finally resolves, the fifth will remind everyone why SOL was the darling of 2024 in the first place.
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.
