Cryptocurrency analysis firm MakroVision has published a new technical analysis report on Solana (SOL).
The firm noted that Solana has generally maintained its trend of forming “higher lows,” but the recent recovery has been limited by weak and short-term countermoves.
According to MakroVision, the red trend lines currently represent a significant resistance zone. The analysis noted that it is difficult to establish strong upward momentum in the short term without a sustained break above this level. If Solana fails to maintain support in the $173-$180 range (0.5 Fibonacci retracement), the price risks a pullback to the “Golden Pocket” region around $155-$148.
On the other hand, MakroVision stated that a close above the $204 level could pave the way for Solana to stabilize again and an increase towards the $223-246 range, and that exceeding this level would signal a possible trend reversal.
In the conclusion, the analysis company included the following assessment:
Solana is signaling strength by forming higher lows in the short term, but bullish momentum remains limited. A move above 204 could generate new momentum, otherwise a correction could bring the Golden Pocket region back into focus.
*This is not investment advice.