Cryptocurrency analysis firm MakroVision has evaluated the latest technical outlook for Solana (SOL).
The analysis highlights the recovery trend that SOL has been showing in recent days. The strong reaction, especially after the successful retracement to the 0.665 Fibonacci level (~$105), carries promising signals for investors, according to the analytics firm.
Solana managed to break above the technically critical red falling trend line, which is considered the first positive signal. While it is stated that the rise that started at around $96 is of an impulsive nature, the previous lows must be broken for this structure to be permanent.
SOL has reached the first serious resistance level in the $135-$138 band. If this level is broken upwards, the price is expected to accelerate to $159. There is a significant liquidity zone at this level. In particular, a break of the previous low peak at $147 could confirm a strong trend reversal.
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What Are The Support Levels For Solana?
$126: Previous resistance is now a short-term support.
$117 – $118: The 0.618 Fibonacci level stands out as the main reaction point in a possible pullback.
As a result of the analysis, MakroVision claimed that the first bullish signals appeared in the technical structure of Solana, but the breakout of the $147 level would confirm a real trend reversal.
*This is not investment advice.
