Solana (SOL) is trading at $184.83, down 1.72% in the past 24 hours, with a market cap of $102.1 billion, according to CoinMarketCap. Despite the price weakness, the broader trend of higher lows remains intact, indicating ongoing resilience in Solana’s mid-term structure.
According to MakroVision Research data, the recent recovery feels “weak,” characterized by quick counter-movements and a lack of sustained bullish momentum. The analyst noted that red descending trendlines now define short-term resistance, and breaking above them will be essential to confirm renewed buying strength.
Key Technical Levels to Watch
- Support Zone: $173–$180, This range aligns with the 0.5 Fibonacci retracement, serving as the critical area for bulls to defend. A failure to hold this zone could open downside targets at the Golden Pocket between $155–$148, representing the 0.618–0.665 retracement levels.
- Resistance Zone: $204, A sustained breakout above this level would allow Solana to stabilize and regain momentum, with potential upside targets toward $223 and $246.
On the downside, holding above the mid-$170s remains vital for maintaining Solana’s bullish structure. Losing this level would likely trigger a deeper retracement toward the Golden Pocket area highlighted by MakroVision.
Outlook: Critical Moment for Solana’s Next Move
Solana’s short-term trajectory hinges on whether it can reclaim the $204 resistance. Until that happens, analysts view the current price action as corrective within a larger consolidation pattern.
In summary, the trend of higher lows supports Solana’s long-term resilience, but the lack of bullish volume suggests traders are waiting for a decisive breakout. A move above $204 could mark the start of a fresh upward leg, while failure to hold $173 may confirm a deeper correction toward the $150 region before a stronger recovery attempt.
