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BitcoinSistemi 2025-02-05 22:07:09

Where are the Critical Resistance and Support Levels in Solana Price: Experts Share Technical Analysis

Cryptocurrency analytics firm MakroVision has released its latest assessment of Solana (SOL) price movements. Experts note that the previously identified corrective bullish structure has materialized, leading to another decline in an impulsive wave (c). While a recovery is already underway, key resistance levels need to be broken for a sustained rise. According to MakroVision, the overall downtrend remains corrective in the (A)-(B)-(C) structure, suggesting that a short-term bottom may be forming. However, it remains crucial to determine whether a strong bullish impulse will follow or if the recovery is merely corrective. Graphic analysis shared by MakroVision. Related News: The Bitcoin and Cryptocurrency Development Wall Street CEOs Have Been Waiting For Is Allegedly About to Happen Analysts cited the following areas as key resistance and support levels: $223: A key resistance level with high liquidity. A break above this level would be the first positive signal for a sustained recovery. $246: The next hurdle that needs to be cleared for the upside potential to continue towards $270. $198 (0.5 Fibonacci) and $193 (0.618 Fibonacci): These levels could act as short-term supports in case of a pullback. $188: A very important level. A drop below this point could trigger another downward move. *This is not investment advice. Continue Reading: Where are the Critical Resistance and Support Levels in Solana Price: Experts Share Technical Analysis