In this video: Solana (SOL) Elliott Wave analysis for 10 October 2026: Solana has reached major support after a sharp but only 3-wave decline from the late September top, bouncing from $106.79 at the top of the $89.57 to $106.79 support box. Video By More Crypto Online.
We look at why the advance from the June low looks more like 3 waves than 5, why $96.89 is such an important support, and what the short-term chart says about a bounce into resistance over the weekend.
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In the short term, a bounce into resistance is possible, but only a 5-wave break above $120.16 would indicate a more meaningful low. A 3-wave bounce would point to a wider wave 4 pullback, with $96.89 as the ideal area.
Levels (as of 10 October 2026)
• Resistance: $111.66 - $120.16, resistance zone, a 5-wave break above would signal a meaningful low
• Resistance: $113.59 - $115.55, possible short-term bounce target
• Support: $106.79, first support, 23.6% retracement and lower channel line
• Support: $96.89, major support, 38.2% retracement, previous breakout point and ideal area for wave 4
• Support: $89.57 - $106.79, main support box
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Insights Today
Solana is seeing an aggressive wave of real-world asset (RWA) expansion, heavily boosting its reputational moat even as short-term price momentum pauses:
• Tokenized Blue-Chip Equities: Asset-tokenization giant Securitize officially launched 12 tokenized U.S. stocks on Solana, including fractionalized shares of Apple, Nvidia, and Tesla. Each token is backed 1:1 by broker-held real shares. Solana was chosen over Ethereum due to near-zero fees and lightning-fast settlement times needed for high-frequency trading.
• Samsung Mobile Integration: In a major push for decentralized payments (PayFi), native USDC transfers on Solana have been tightly integrated across 82 million Samsung Galaxy devices, dramatically expanding Solana's direct retail payment rails.
• ETF Fund Flows: Despite positive infrastructure news, U.S. Spot Solana ETFs experienced a fourth consecutive day of net outflows, dropping roughly $3.32 million. This slight capital flight is primarily keeping the price compressed near the $110 level.
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