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.
Related News: The 15 Altcoins That Crypto Developers Focused On Most in the Last Week Have Been Revealed
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.
Continue Reading: Is a Explosive Rally Expected in Solana (SOL)? Analysis Firm Lists the Conditions
Go to Source
Author: NixCoin
Ripple, the company behind XRP, is approaching a $1 billion annualized revenue run rate as…
Canton Network and DTCC are bringing Wall Street closer to blockchain, with $30 trillion in…
Bitcoin could reach $1.6 million by 2036, according to Bitwise latest forecast. The asset manager…
Bitcoin price faces another major test on October 30, when $11 billion in options contracts…
Sony has launched a new Soneium incubation program targeting blockchain-powered entertainment, including PlayStation games, anime,…
Perplexity AI predicts a significant development for Somnia crypto by January 1, 2027. Since September,…
This website uses cookies.
Read More