Solana has recently dipped to its lowest value since August 2024, prompting analysts at MakroVision to examine its price movement and determine what might come next.
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With the cryptocurrency continuing to experience a downward trend, many are left wondering if a reversal is on the horizon or if the decline will persist. Despite occasional short-term recoveries, Solana’s price is still under critical resistance points, and its price action shows consistent lower highs and lows.
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Analysts have highlighted that the asset’s ability to recover will depend heavily on how it reacts to key levels. The $159 mark stands as an important threshold, with any movement above it potentially signaling that the recent bounce might be more than just a short-term reaction.
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However, should Solana manage to break past the $170 to $188 range, it could indicate the beginning of a more significant trend shift. Additionally, the price range between $104 and $117, known as the golden pocket, has seen some early reactions, and for any real reversal to take shape, Solana must hold above this area. Without this, the risk of further declines remains high.
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While the cryptocurrency has shown brief signs of a recovery, the broader sentiment remains bearish, and it will need to break these critical levels to signal that a more sustained recovery is possible.
ALEXANDER STEFANOV
