In its latest technical assessment for Solana (SOL), cryptocurrency analysis firm MakroVision stated that the price is turning upwards, re-defending the strong support zone in the $153–$157 range.
According to the analysis, SOL is currently approaching the key resistance level at $188. Breaking above this level could pave the way for the price to accelerate towards $223.
According to the analysis firm, the prominent technical levels are as follows:
Support: $170 and the $153–$157 band
Resistance: $188 (above which the trend may accelerate)
Risk: A break below $153 could lead to an extension of the correction to deeper levels.
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MakroVision stated that the medium-term uptrend is valid as long as the $153–$157 range is maintained, identifying the $188 level as the “next big test.”
A strong rally has been prevalent on the altcoin front in recent days, particularly in Ethereum (ETH). The price of ETH has climbed approximately 20% in the past week. Other altcoins, however, have seen more modest gains.
This is not investment advice.
