27 Jun
27Jun

According to a recent technical update from MakroVision, Solana (SOL) has successfully defended a crucial support zone between $126 and $131. This area, where the Golden Pocket aligns with the lower boundary of its descending trend channel, provided the foundation for a technical bounce. However, the broader downtrend remains intact, and the bulls still face significant hurdles.

Key Technical Insights:

  1. Support Zone Holds Firm
    The $126–$131 range has acted as a strong confluence zone, preventing further declines. SOL is now testing resistance near $150, which coincides with the upper boundary of the descending channel. A breakout above this level would be an early bullish sign, though confirmation is still needed.
  2. Downtrend Persists
    Despite the recent rebound, Solana’s market structure remains bearish, characterized by lower highs and lower lows. For a sustained bullish reversal, SOL needs to reclaim key levels above $158 and $168 — previous lower highs that have capped upside momentum.
  3. Next Key Moves
    A successful break above $150 could pave the way for a broader recovery. If resistance holds, attention will shift back to the $135–$131 support zone. A failure to hold this level could push SOL down toward the next major support near $117.

Outlook: A Critical Inflection Point

“Solana has defended a critical technical zone, but the trendline remains unbroken,” MakroVision stated. The current price action marks a make-or-break moment. Without a decisive breakout above the channel resistance, the prevailing bearish trend is likely to continue, keeping $117 as the next downside target.

June 2025, Cryptoniteuae

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