Recent technical analysis of Solana by MakroVision indicates a continuing correction, while the price recovery requires overcoming critical resistance levels.
Current Market Situation of Solana
In its latest technical report, MakroVision noted that the previously predicted correction structure has been realized, and the price of Solana has continued to decline, forming a bearish wave (c). Currently, Solana appears to be in a recovery phase; however, critical resistance levels need to be overcome for it to strengthen.
Key Support and Resistance Levels
According to the analysis, the main resistance level is $223, which represents a strong area with high liquidity. A break above this level could signal the beginning of a sustained upward trend. The next important resistance is at $246, a breakout above which could lead to movement towards the $270 region. In case of a potential pullback, one should pay attention to support levels of $198 (0.5 Fibonacci), $193 (0.618 Fibonacci), and $188, where the support level is strongest. If the price breaks below this level, Solana may begin to decline again and test lower levels.
Prospects for Future Price Movements
MakroVision points out that the overall downward movement of Solana remains corrective, defined by the (A)-(B)-(C) structure. This formation may complete in the short term. Whether the recovery will turn into a strong and sustainable upward wave will become clear in the coming days. If the recovery is merely a new corrective wave, the current uptrend may be limited.
Thus, the future price of Solana depends on its ability to overcome key resistance levels. Success or failure in this regard will significantly influence further market fluctuations.
