SOL market structure update

SOL rebounded after dipping to 116.71 last Thursday night, with a peak of only 128.74, failing to break through last Thursday's high of 129.00. In terms of wave structure, this usually indicates that the previous high is still valid, and the upper boundary of the next wave is likely still locked around 129.00.

Before this structure is broken, it is necessary to remain vigilant about the downside risks.
Once the price effectively breaks below the range of 120–116.26, the lower boundary of the next wave will shift down to: 112.65-111.25, which will become a potential low point area at the wave level, and the bulls must defend in advance.

Operational idea (execution reference) rebound close to the 128–129 range stop loss above 129.80, if it breaks below 116.26 and confirms, wait for the 112.65–111.25 range before considering structural long positions, do not try to catch rebounds during the downward movement.