Crypto analyst Ali Martinez has highlighted a crucial moment for the price action of Solana, pointing to a key support level within a parallel channel. His technical analysis, which is based on SOL price action on the daily candlestick timeframe, shows that the altcoin has been trading in an uptrend channel since July 2024. Notably, this uptrend channel has been highlighted by the formation of higher lows and higher highs as Solana continued to push to new all-time highs. Now, Martinez noted that holding above a key support level could reinforce the altcoin’s uptrend towards the upper trendline of the support channel. Related Reading: Bold Prediction: XRP Holders On The Path To Millionaire Status—Analyst Analyst’s Technical Outlook: A Make-Or-Break Support Level At the time of Martinez’s analysis, Solana was trading at $193, following a barrage of declines throughout last week. Notably, this decline saw Solana hit the bottom trendline of this uptrend channel. As such, the analyst noted that SOL’s action from here could determine its next big move. If Solana manages to hold abo ..
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