Solana Defends Key Support Zone, Awaits Bullish Breakout

Solana has recently demonstrated resilience by holding onto a key support level, often referred to as the "Golden Pocket," which ranges between $131 and $126. This support zone has been crucial in preventing further declines, as it aligns with the bottom of the trend channel. The price of Solana is currently testing resistance near $150, and a successful breakout above this level could signal an early bullish reversal. However, confirmation of this bullish signal is still pending.

The overall market structure for Solana remains bearish, characterized by a series of lower highs and lower lows. For a sustainable bullish reversal to occur, Solana must reclaim levels above $158 and $168, which were its previous lower highs. This would indicate a shift in market sentiment and potentially pave the way for a broader recovery.

Looking ahead, the next critical levels to watch are $150 and $135–$131. A breakout above $150 could open the door to a more significant recovery, while failure to clear this resistance would shift focus back to the $135–$131 support zone. A break below this support could send Solana sliding toward $117, reinforcing the bearish trend.

According to MakroVision, Solana has successfully defended a critical technical zone, but the overall trendline remains unbroken. The current price action presents a pivotal moment for Solana, as bulls need to demonstrate the strength to push beyond resistance and trigger follow-through. Without a breakout above the channel, the bearish structure is likely to persist, keeping $117 as the next major downside target.