Analysis Firm Reveals Expected Levels and Key Points for Solana (SOL)

In its latest technical assessment for Solana (SOL), cryptocurrency analysis firm MakroVision stated that the asset maintains its strong structure and may be on the verge of a new rise.

The company said that after Solana broke the resistance area at $159, it quickly rose to $188 and is currently entering a sideways consolidation period just below that area.

According to MakroVision, Solana clearly broke out of a long-standing downtrend and subsequently displayed a strong bullish structure by forming higher lows and higher highs. According to the analysis, the current sideways movement is seen as a natural and constructive pause after the previous strong rally.

Analysts list the key support levels to watch in the short term as follows:

• $159: It stands out as a short-term support level and there has been a reaction from this level before.
• $153: Coincides with the 0.382 Fibonacci retracement level and should be watched for possible reversals.
• $142: Key level that needs to be defended for Solana to maintain its bullish structure.

MakroVision notes that if Solana achieves a sustained break above the $188 level, the price could gain new momentum towards the $204 and then $223 levels. On the other hand, the short-term technical outlook is thought to remain positive as long as the price stays above the $153 level.

According to MakroVision’s assessment, Solana is in a healthy consolidation phase after its strong rally. This sideways movement could pave the way for a continuation of the uptrend, while a break above the $188 level could give the market new momentum.

*This is not investment advice.

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