Solana has extended its price decline below $200, but technical analysis shows that it continues to trade within a bullish setup. At the time of writing, Solana finds itself trading close to a support level that could determine its next major move. This is because technical analysis shows that Solana is currently trading in a parallel channel that could drive prices to new highs, but holding above the $190 support level is crucial to this outlook. Related Reading: XRP To 3 Digits? The ‘Signs’ That Could Confirm It, Basketball Analyst Says Solana’s Parallel Channel Supports Bullish Expectations Solana’s price action in the past seven days has been highlighted by a notable resistance at $205. Particularly, Solana’s rallies have faced rejection at this price point about three times throughout the past seven days. This rejection is particularly notable given that Solana recently reached a new all-time high of $293 in the last 30-day timeframe. The stark contrast between this all-time high and the most recent struggle at $205 shows the intense volatility Solana has experienced in recent weeks. Despite these fluc ..
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