In its latest technical analysis for Solana (SOL), cryptocurrency analytics company MakroVision argued that the price is continuing its short-term recovery, but has entered a critical decision point.
According to MacroVision, Solana has managed to break above the red trend lines with its recent upward move. However, just above the current price, there is a strong resistance area where the previous recovery attempt in December failed. This area is considered the key threshold that will determine whether the current uptrend will be sustainable.
In the short-term outlook, it is noteworthy that SOL is clearly holding above the $117–$126 support zone. The analysis states that after stabilizing above this zone, the price exhibited a “clean” rise. However, the current movement is noted as heading towards the recent lower peaks in the $135–$145 range, as well as an area with high liquidity. MacroVision states that this band is a critical decision point that will determine whether the current recovery will continue.
Looking at the broader timeframe, it is noted that Solana’s main downtrend, which has been ongoing since its peak of $247, is still valid. However, it is pointed out that the downward momentum has weakened considerably. According to the analysis, the market structure is evolving from impulsive declines to increasingly corrective consolidations; this is often considered a harbinger of a potential trend reversal.
MacroVision states that the $148 level should be closely monitored in the coming period. A sustained break above this level could trigger renewed strong bullish momentum in Solana, opening up space for the price to reach $159 and then the $188 region. Conversely, a sharp rejection from this resistance zone could pull SOL back towards the $117-$126 support area.
*This is not investment advice.
