Analyst Mary Emerald highlighted a bullish continuation pattern in the daily chart of Solana. She pointed out a Golden Cross and a retracement towards FL 0.5 166.38, both correlated with the 200-day EMA and a break of the trend line.
She emphasizes that this range between $166 and $161 creates an excellent support zone. If buyers defend this level, the pattern could favor the bulls, with Solana potentially rising towards $206 and ultimately reaching its target of $255.93 in the short term.
In the daily chart, the recent price action of Solana reinforces Mary Emerald's bullish projection. The asset had previously risen over 56%, and the current pattern reflects that movement with a possible spike of 61%.
However, the MACD histogram remains negative, with no visible recovery, suggesting that bearish momentum still predominates. It is necessary to overcome the resistance levels of $189.49 and $206.13 to confirm a trend change, while $158 acts as the main downside buffer.
If SOL holds this support and strongly exceeds $189, it will confirm the analyst's target of $255.93. The current structure of Solana's long-term price forecast remains bullish as long as these levels are respected.