NewsBTC •
June 8, 2026 at 16:40 •
Analysis
After a steep selloff that reinforced bearish momentum, Solana appears to be entering a period of consolidation as Wave 4 unfolds. Such corrective phases often offer short-term relief and can also serve as a launching pad for the next leg of a downtrend. As the market searches for direction, the key question remains whether buyers can build a meaningful recovery or if another decline is waiting around the corner. Wave 4 Correction Takes Shape Amid Cooling Selling Pressure Analyzing Solana’s wave outlook on the 30-minute time frame, Elliott Waves Academy noted that the pair may be gearing up for another significant downside move following a decisive breakdown from its price channel. The recent decline has reinforced bearish sentiment, with price action signaling that ...
