According to the analysis, the SOL price has started to show its first reaction at key support levels after the recent selling pressure, but the overall structure remains fragile.
According to MacroVision’s assessment, Solana came under pressure in the short term, falling below the $126 level, and selling pressure paused around the $117 region. Analysts argued that the rebound at this level was technically significant and indicated a support area that was defended for the first time. They also noted a noticeable weakening in the downward momentum.
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The critical point in the short-term outlook is whether this rebound will continue. According to MacroVision, if the current recovery encounters renewed selling pressure, the downward trend may persist. However, if the price rises above the recently formed lower peaks, a short-term relief scenario may emerge.
The analysis specifically highlighted the $144–$148 range. It noted that this area represents a strong resistance cluster, and only a strong breakout above these levels could stabilize the price structure in the short term. In such a scenario, a new upside potential could open up for Solana.
In its overall assessment, MacroVision stated that Solana showed a limited recovery reaction from its recent low, but it was too early to say that the technical structure had fully recovered. Unless the $144–$148 range is regained, analysts believe it will be difficult to talk about a sustained uptrend in Solana.
*This is not investment advice.
Continue Reading: What to Expect Next for Solana (SOL) Price? Here Are the Levels You Must Watch
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Author: NixCoin
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