Crypto analysis firm MakroVision believes Solana (SOL) is holding strong and may be on the verge of another upward surge, following a decisive break from its long-term downtrend.
In its latest technical review, the firm highlights that Solana recently broke resistance at $159, then quickly surged to $188 before entering a healthy consolidation phase. This sideways movement, according to analysts, is a normal pause following the rally and reflects continued bullish strength.
MakroVision noted that SOL has established a strong technical structure, with the formation of higher lows and higher highs — a key indicator of an uptrend.
Key Support and Resistance Levels
Analysts outlined several important levels to watch in the near term:
- $159: Immediate support level where past buying interest has emerged.
- $153: Aligned with the 0.382 Fibonacci retracement zone, crucial for short-term trend strength.
- $142: A key level that must hold to preserve the broader bullish outlook.
Break Above $188 Could Trigger Next Leg Higher
Should Solana break and hold above $188, MakroVision forecasts potential targets at $204 and $223, marking the next phases of upside momentum. Until then, the firm sees the short-term trend as positive as long as price action remains above $153.
In conclusion, Solana appears to be in a constructive consolidation phase, setting the stage for another potential breakout. MakroVision’s analysis suggests that the asset remains technically sound and well-positioned for continued gains, provided it defends key support zones.
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-eyes-fresh-rally-after-breaking-downtrend-says-makrovision/