What’s the Latest on Solana? Analysis Firm Issues Warning – “It Shouldn’t Fall Below This Level”

Cryptocurrency analysis firm MakroVision has published an updated technical assessment of the Solana (SOL) ￰0￱ to the analysis, the sharp correction movement that started after SOL tested above $250, along with the downward break from the rising wedge formation, increased the selling pressure on the stock ￰1￱ to the analysis, the downside breakout from the rising wedge formation produces a bearish signal in the short-term outlook, with the loss of the $223 level, this area has now become a strong ￰2￱ company stated that SOL is currently testing the 0.382 Fibonacci retracement point at $192, and that maintaining this area could pave the way for a short-term rally.

However, if the price breaks below $192, the 0.5 Fibonacci support level at $174 will be critical. A break above this level could trigger a deeper pullback to the “golden pocket” region, which extends from $159 to $148. Related News: JPMorgan Reveals Its Forecast on the Fed's Interest Rate Cuts and Discusses the US Economy On the other hand, it was stated that if $204 is regained, the price may test the $223 resistance area, and only if it is sustained above this level, the bulls may take control and target the $246–264 ￰3￱ stated that Solana’s bullish structure is maintained in the medium and long term, but the $192–174 range, which stands out as the critical defense line in the short term, is the main region that will determine the direction of the ￰4￱ the time of writing, SOL is trading at $201. *This is not investment ￰5￱ Reading: What’s the Latest on Solana?

Analysis Firm Issues Warning – “It Shouldn’t Fall Below This Level”