Makrovision, an analytics company closely followed in the market for its analyses, has released its updated forecasts and expectations for Solana.
Accordingly, in their latest assessment of Solana’s technical outlook, Makrovision analysts stated that $SOL has now returned to a critical decision zone. Solana noted that after its price dropped below $85,000, it is now moving back towards its old support area and the descending trend line.
Analysts also identified three key levels for Solana:
“• Initial retracement level at $85
• Next resistance at $97
• Larger buying zone between $117–126”
Analysts concluded that as long as Solana remains below these levels, its movements are currently only a technical recovery within a downward trend.
However, if the $SOL is cleanly recovered and held at the $97 level, the short-term outlook could improve significantly.
Solana is still trading at $80.7 at the time of writing.
*This is not investment advice.