Solana Eyes Fresh Rally After Breaking Downtrend, Says MakroVision

In its latest technical review, the firm highlights that Solana recently broke resistance at $159, then quickly surged to $188 before entering a healthy consolidation phase. This sideways movement, according to analysts, is a normal pause following the rally and reflects continued bullish strength.

MakroVision noted that SOL has established a strong technical structure, with the formation of higher lows and higher highs — a key indicator of an uptrend.

Key Support and Resistance Levels

Analysts outlined several important levels to watch in the near term:

$159: Immediate support level where past buying interest has emerged. $153: Aligned with the 0.382 Fibonacci retracement zone, crucial for short-term trend strength. $142: A key level that must hold to preserve the broader bullish outlook.

Break Above $188 Could Trigger Next Leg Higher

Should Solana break and hold above $188, MakroVision forecasts potential targets at $204 and $223, marking the next phases of upside momentum. Until then, the firm sees the short-term trend as positive as long as price action remains above $153.

In conclusion, Solana appears to be in a constructive consolidation phase, setting the stage for another potential breakout. MakroVision’s analysis suggests that the asset remains technically sound and well-positioned for continued gains, provided it defends key support zones.

The post Solana Eyes Fresh Rally After Breaking Downtrend, Says MakroVision appeared first on Coindoo.