Ali Martinez cryptographic analyst emphasized the key moment for the Solana price price, pointing to Key level of support Within the parallel channel. His technical analysis, based on the operation of SOL in everyday candlesticks, shows that Altcoin has been trading in the Uptrend channel since July 2024.

It is worth noting that this growth channel has been emphasized by creating higher low and higher ups when Solana continued to press the up-to-date highest levels of all time.

Now Martinez has noticed that holding above a key level of support can Strengthen Altcoin’s growth towards the upper line of the support channel trend.

Technical perspectives Analytics: Make-Or Break support level

While Martinez analysis, Solana traded for $ 193, after warning in declines last week. In particular, this Solan’s decline hit the bottom line of trends of this growth channel. Therefore, the analyst noticed that Sola’s action can determine its next enormous movement.

If Solana manages to maintain above this level of support, the upward trend can regain strength and the channel will still be in the game. In this case, Solana will still be on the right track to push towards the upper end of the channel, which is a target price of around USD 387. On the other hand, if support fails, there may be a deeper correction on the table.

Picture From x: Ali_charts

Solana Price Action: Rollercoaster goes to USD 293

SOL is one of the best productive cryptocurrencies in the current cryptographic cycle, and its price has recently increased rapidly to the up-to-date highest all time in the amount of USD 293 on January 19.

The rally was primarily driven by a wave of interest After starting The official coin Meme Trump on blockchain Solana, adding a rush to a stubborn trend for Altcoin. However, since then, the euphoria has nippy and Solana has experienced 30% decrease from the highest level.

Since the analysis of Solana, it has been slightly reflected from the lower border of the growth channel. Solana is currently at a price of $ 204, which means that it has increased by about 5.7%since Martinez emphasized the key support zone.

This reversal suggests that the Uptrend channel is still in the game, and Solana can continue growing up until she reaches USD 389. Interestingly, this goal at the top end of the channel is strengthened by the Fibonacci extension indicator.

This indicator was extended from Solana Low of USD 109 in August 2024, and the price of 389 USD price is an extension level 1.272. The importance of this extension is strengthened by the fact that the Solan peak in January also coincided with the 1.0 fibonacci level.

Despite this recovery, the stubborn rush has fully confirm with a sturdy breakthrough. It is still possible that Solana can Check the lower limit again The channel again before determining the more decisive spread.

A distinguished picture from Fortuna, TradingView chart