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Ali Martinez is the most decisive moment in Solana’s price, pointing to a The main support level Inside a parallel channel. His technical analysis, which relies on Sol PRICEACTION, explains the daily Candlestek timeline, that Altcoin has been circulated in a channel in the upward trend since July 2024.
It is worth noting that this upscale direction channel has been highlighted by creating the lowest higher levels and higher levels with Solana continuing to press new levels at all.
Now, Martinez indicated that keeping more than one main support level can Enhance the ups of Altcoin Towards the upper direction line of the support channel.
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Technical expectations for the analyst: the level of support or breaking support
At a time Martinez analysis, Solana was trading at a price of $ 193, following a barrage of declines over the past week. It is worth noting that this decline saw Solana hitting the lower direction line of this upscale direction channel. As such, the analyst pointed out that a Sol procedure from here can determine its next big step.
If Solana can adhere to this support level, the bullish trend may restore strength, and the channel will continue to play. In this case, Solana will remain on the right track to push towards the upper end of the canal, putting the target price about $ 387. On the other hand, if support fails, it can be a deeper correction on the table.
image From x: Ali_charts
Solana Price: a trip to $ 293 and a return
Sol is one of the best cryptocurrencies in the current encryption cycle, with a recent price to the highest new level at $ 293 on January 19.
The assembly was paid primarily with a wave of attention After launching Mimi’s official coin Trump on Solana Blockchain, adding momentum to an already upward direction for Altcoin. However, ecstasy has sincerely subjugated, with the Solana experience 30 % decrease Since the highest level ever.
Since the time of the analysis, Solana has been recovered a little from the lower border of the Al -Awdh Al -Soudi channel. Solana is currently trading at $ 204, which means that it has increased by about 5.7 % since Martinez highlighted the main support area.
This reflection indicates that the upscale direction channel is still playing, and Solana can continue to press up until it reaches $ 389. Interestingly, this targeted price at the upper end of the channel is strengthened by the Fibonacci extension index.
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This indicator extends from Solana’s decrease at $ 109 in August 2024, and the price of $ 389 is offered at the extension level 1.272. The importance of this extension is strengthened by the fact that Solana’s peak in January also coincided with the level of 1.0 Vibonacci.
Despite this recovery, the momentum ascending it To date, to confirm completely It itself with strong outbreak. There is still a possibility that Solana can Repeat the lower boundaries test From the channel again before creating a more decisive upward trend.
Distinctive image from Fortune, TradingView graph
