Solana’s price remains within an upward channel – is 387 dollars after that?

After a relatively strong performance in January – which witnessed Altcoin to $ 290, Sol February began a deep correction below the level of $ 200. However, the Solana price can be on its way to the highest new level ever, as it continues to circulate within an upward channel on a larger time frame.

Here is how the Sol price can rise to the highest new level ever

In the February 8 publication on the X platform, the famous encryption analyst Ali Martinez Draw The new upper view of Solana’s price in the next few weeks. According to the trader, the SOL price can suffer from a large gathering beyond its current record high and 387 dollars.

The logic behind this upward prediction is to form an upward channel style on the Solana scheme on the daily time frame. The emerging canal is a technical analysis pattern consisting of two main (upward) trend lines; The upper line connects the top of the tenant and the lower line that connects the lowest swing levels.

Usually, the price of the original remains within the emerging canal; With the upper border line, it is often a resistance area and the lower direction line that works as a support area. Investors can trade with price fluctuations between style support levels and resistance levels or entering a position after collapse or collapse.

Source: Ali_charts/X

According to the encryption analyst, the support level of about $ 195 can serve as a starting point for Solana’s high prices to the highest new level ever. Martinez put forward in his analysis a $ 387 goal, which will represent a rare of more than 91 % of the current price point.

Solana Price at a glance

From writing these lines, the Sol price is looked at above 200 dollars, which reflects an increase of more than 4 % in the past 24 hours.

The price of SOL reclaims the $200 level on the daily timeframe | Source: SOLUSDT chart on TradingView