Cryptocurrency analysis firm MakroVision published its latest technical assessment for Solana (SOL), stating that the price is at a significant turning point.
According to the analysis, Solana’s 0.382 Fibonacci level, around $192, has provided strong support so far. Following the reaction from this level, the price managed to climb above the $204 and $223 ranges.
In the short term, the support cluster around $223 is critical. MakroVision cautioned that if this level cannot be held, there is a risk of a pullback to $204 or lower.
Meanwhile, it was stated that Solana needs to hold above $223 for the upward movement to continue. In this case, the price could rise to the resistance zone between $246 and $264, and if this level is broken, the market could regain momentum toward the all-time high (ATH).
As a result, analysts at MakroVision noted that Solana is gaining strength after the correction but remains in a critical area. The analysis warned that “if the bulls cannot sustain above $223, the probability of the price pulling back lower increases.”
*This is not investment advice.