Analytics Firm Assesses Solana’s Next Price Targets from its Chart
What kind of developments may occur next in the price of Solana, one of the largest altcoins in the world?
Cryptocurrency analytics firm MakroVision Research analyzed the price performance of Solana (SOL) in a recent statement.
After an impressive rally, Solana is currently consolidating sideways and stabilizing above the key support at $246.
According to the analyst firm, the resistance levels in Solana are as follows:
- $270: The upper boundary of the ascending triangle and the liquidity zone. Breaking above this level could be a strong bullish signal.
- $295: Current all-time high that represents the next target in case of a breakout.
According to analysts, Solana's support levels are as follows:
- $246: A key support reinforced by a green trendline.
- $232: 0.5 Fibonacci retracement level that provides additional support in case of a possible correction.
- $217: The 0.618 Fibonacci retracement level, which is another key sign in case of a deeper pullback.
Solana chart analysis shared by MakroVision.
Analysts at MakroVision Research expect Solana to be on the verge of a decisive move. A breakout above $270 could spark strong momentum and push the price to all-time highs of $295 and beyond.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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