Solana (SOL), which rose above $250 in September, has fallen as low as $70 during this period due to sharp declines.
However, with the recent recovery, Solana, which has risen to the $85 level, now has an updated analysis.
In its latest analysis of Solana (SOL), cryptocurrency analytics company MakroVision stated that Solana is currently in an uptrend.
The analysis firm stated that $85 is a very critical level for Solana, and that the technical structure of Solana is still bearish.
“In the short term, a potential bottom formation pattern emerges with slightly rising lows.”
However, Solana also remains clearly below the red trend line, confirming that the downtrend is continuing.
Analysts note that the trendline is around $100, and predict that a clear break above $100 could be the first bullish signal and initiate a stronger recovery.
However, if the price remains below this region or experiences another strong rejection, the downtrend will likely continue.
In conclusion, analysts note that Solana is attempting to stabilize and form a bottom in the short term. According to analysts, maintaining the $85 level and achieving an upward breakout above it is critical for SOL.
However, this doesn’t guarantee a rise. According to analysts, only a permanent recapture of the $100 level could significantly improve the outlook for Solana. Otherwise, the current downtrend will continue.
*This is not investment advice.
