The analysis focuses on Solana (SOLUSD), currently trading at 184.29. The video highlights an ascending wedge pattern and considers the move from April lows as a five-wave structure, leading to higher price expectations. However, the structure to the upside isn't impulsive. There is a potential three-wave corrective rally and a higher low pullback. A bearish scenario involves breaking out of the wedge to the downside, broadening wave B or wave 2, leading to a support area between 110 and 133. A potential reset of wave 2 is considered. The recent pullback from August highs looks like an ABC pullback, leaning towards higher prices. On a smaller timeframe, a B wave pullback is analyzed with a potential five-wave move up for confirmation. The target is 275.54 and a break below 165.71 would invalidate the bullish scenario.