The Crypto analysis firm MakroVision has published a new report regarding Solana (SOL), evaluating the latest price movement following a sharp sell-off. While Solana shows signs of stabilization, analysts are questioning whether this is the beginning of a real recovery or merely a temporary technical bounce.
According to analysts, Solana tested the 0.618 Fibonacci level at 118 dollars, showing the first signs of support. However, the broader downtrend continues to remain intact, and SOL will need to break key resistance levels to confirm that the upward movement has reversed.
According to MakroVision, the important price levels are as follows:
- 159 dollars: A strong resistance zone; breaking above this level could trigger a larger recovery.
- 170 – 188 dollars: A critical area to confirm that the trend has reversed. If there is no breakout, Solana may remain in a bearish structure.
- 104 – 117 dollars: This “Golden Pocket” region has maintained its strength so far and provided significant support for SOL.
- At the time this article is written, the Solana price is trading at 130 dollars.
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