Solana Holds Golden Pocket Support, But Bearish Trend Remains Intact
The post Solana Holds Golden Pocket Support, But Bearish Trend Remains Intact appeared on BitcoinEthereumNews.com.
Altcoins According to a fresh technical update from MakroVision, Solana (SOL) has successfully defended a key support zone between $126 and $131, rebounding off the Golden Pocket and the lower boundary of its descending trend channel. This reaction has sparked a technical bounce, but the broader downtrend remains intact — and the bulls still have work to do. Key Levels and Market Structure MakroVision’s chart breakdown highlights three critical insights: 1. First Reaction at Support The $131–$126 range held firmly as a key confluence zone, with support emerging exactly where the Golden Pocket meets the bottom of the trend channel. Price is now testing channel resistance near $150. A breakout here would be an early bullish signal, but confirmation is still pending. 2. Trend Remains Bearish The overall downtrend structure persists, marked by lower highs and lower lows.Solana must reclaim levels above $158 and $168 — its previous lower highs — to establish a sustainable bullish reversal. 3. What to Watch Next A breakout above $150 could open the door to a broader recovery. Failure to clear resistance would shift focus back to the $135–$131 zone, and a break below this support could send SOL sliding toward $117. Outlook: Inflection Point Approaches “Solana has defended a critical technical zone, but the trendline remains unbroken,” MakroVision noted. “Now the question is whether bulls have the strength to push beyond resistance and trigger follow-through.”The current price action presents a make-or-break moment for Solana. Without a breakout above the channel, the bearish structure will likely persist, keeping $117 as the next major downside target. Author Kosta Gushterov Reporter at Coindoo Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers…
Filed under: News - @ June 27, 2025 1:22 am