What is the Current Situation in Solana (SOL)? Analysis Company Gives Price Target, Warns, “Don’t Panic If It Falls to This Level”

Cryptocurrency analysis firm MakroVision stated in its latest analysis of Solana’s (SOL) technical outlook that the bullish scenario still remains valid. The company pointed out that Solana has been strongly implementing the technical structure it has created in recent months, and stated that the important support zone known as the “golden pocket” has been working successfully and a dynamic upward trend has begun from this level. In its June 19th report, MakroVision pointed to the $126 to $131 range as a correction target for Solana, characterizing this area as a potential second wave. In the price movements that followed this prediction, it was claimed that a significant reversal trigger was activated when the $159 level was broken, paving the way for a new rally for Solana. In the company’s latest evaluation, it was noted that the intermediate target around $188 was reached, thus an increase of more than 60% from the last bottom level. Related News: Why is Ethereum (ETH) Soaring? Bernstein Analysts Warn About One Thing The analysis suggests that the current structural outlook suggests the beginning of a larger third wave move. If this scenario continues, Solana’s next target area appears to be the $236 to $270 range, based on Fibonacci extension levels. MakroVision advises that for this upward trend to continue in a healthy manner, potential pullbacks shouldn’t lead to panic. They argue that a price pullback to around $170 may not be a sign of weakness but rather a period of reaccumulation, and that if this level is maintained, the overall upward trend will remain valid. *This is not investment advice. Continue Reading: What is the Current Situation in Solana (SOL)? Analysis Company Gives Price Target, Warns, “Don’t Panic If It Falls to This Level”

Source: BitcoinSistemi