Cryptocurrency analysis firm MakroVision has highlighted Solana’s (SOL) strong price recovery, noting that a major move predicted earlier this month has materialized.
According to MakroVision’s latest update, Solana confirmed a powerful upward trend after forming a base near the $96 support level. The breakout of the red downtrend line provided the first major bullish signal, followed by a rapid V-shaped recovery with gains exceeding 50%.
The analyst firm emphasized that SOL is now closing in on a crucial resistance zone between $170 and $188, where key Fibonacci levels and historical resistance points converge. This zone is expected to act as the first significant test for the asset’s next directional move.
At the time of writing, Solana trades near $149, having previously dipped below $100 during its recent correction.
Next Steps: Resistance Test or Trend Continuation?
MakroVision stated it will continue to monitor Solana’s performance closely to determine whether the price will face rejection at the target zone or establish a new bullish structure with higher highs and higher lows.
The outcome at the $170–$188 resistance could define the next major trend for Solana as the broader crypto market eyes new highs.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/solana-approaches-key-resistance-as-recovery-momentum-builds/