🚀Solana Price Crash to $70: What Elliott Wave Got Right — And What Comes Next
In late August 2025, when Solana $SOL was trading near $205, market sentiment was overwhelmingly bullish. After all, the asset had more than doubled in just four months, attracting traders expecting further upside.
But beneath the optimism, technical signals were telling a very different story.
A Hidden Bearish Setup
Using Elliott Wave Theory, the structure of Solana’s rally didn’t look impulsive — it looked corrective. That distinction is critical.
Instead of signaling a new bullish trend, the move appeared to be a temporary recovery within a larger downtrend. At the time, projections suggested:
A potential drop toward $80, implying a ~60% decline
That prediction seemed unlikely to many — but the market had other plans.
The Market Delayed — But Didn’t Deny
Initially, the bearish scenario took longer to play out than expected.
Instead of reversing immediately, Solana formed a more complex double zigzag pattern (W-X-Y), allowing price to climb even higher — briefly crossing $250.
For bullish traders, this felt like confirmation.
In reality, it was just a delay.
The Sharp Reality Check
When the reversal finally arrived, it came with force.
Wave C unfolded as a strong five-wave impulse
Price dropped below $70
The entire prior rally was completely erased
This wasn’t just a correction — it was a full structural reset.
Has the Bottom Formed?
Now comes the important shift.
The decline from $295 to ~$67.50 appears to have completed a full A-B-C correction, with Wave C showing a clear impulsive structure.
If this wave count is correct:
The downtrend phase is **likely