MakroVision has released its latest analysis on Solana (SOL) price movements.
Structure and Current Movement
Experts note that the previously identified corrective bullish structure has materialized, leading to another decline in an impulsive wave (c). A recovery is already underway, but key resistance levels need to be broken for a sustained rise.
Resistance and Support Levels
Analysts cited the following areas as key levels: $223 as the first major resistance; $246 as the next hurdle; and $198, $193 as short-term supports. The $188 level is crucial, and a drop below it could trigger further decline.
Trend Analysis and Prospects
According to MakroVision, the overall downtrend remains corrective in the (A)-(B)-(C) structure, suggesting a short-term bottom may be forming. It remains crucial to determine whether a strong bullish impulse will follow or if the recovery is merely corrective.
MakroVision emphasizes the importance of monitoring key resistance and support levels to understand Solana's future movements.
