The analysis focuses on Solana (SOLUSD) using a monthly timeframe. The cryptocurrency is consolidating below the $253 level, which is the 100% Fibonacci extension from the June low. The analyst uses the Fibonacci extension tool to measure potential targets for Wave 3, with an ideal target around $305. It's mentioned that a healthy third wave ideally reaches at least this level. If Wave 3 extends beyond this, it could lead to Wave 5 reaching higher levels, potentially exceeding $500. The analysis emphasizes realistic projections and aims for a checkpoint target of $368. For the bullish trend to sustain, the Wave C of 3 needs to maintain support on smaller timeframes. A warning is triggered if the price breaks below key micro support levels. Breaching $217 could invalidate the bullish view and indicate a possible test of the lower boundary. A break above $249, could be targeting $261, $269.02, up to $280.