Solana’s Next Major Support Levels Sit At $50, | Crypto News
An analyst has identified where Solana assist ranges might lie based on a Parallel Channel forming in the asset’s weekly price chart.
Solana Parallel Channel Could Indicate Support At These Levels
In a new post on X, analyst Ali Martinez has mentioned how assist is wanting for Solana from the angle of a Parallel Channel that could also be rising in its 7-day price.
The “Parallel Channel” is a sample from technical analysis (TA) that kinds whenever an asset trades between two parallel trendlines. There are a few different methods a Parallel Channel may be categorized based on the orientation of its trendlines.
Ascending Channels contain strains that are pointing up, while Descending Channels have a downward slope. These sorts correspond to intervals of parallel consolidation to a internet upside and draw back, respectively.
In the context of the current matter, the third and the most basic sort is of curiosity: a Parallel Channel that’s parallel to the time-axis. As the price strikes inside such a channel, it observes a part of completely sideways motion.
Now, right here is the chart shared by Martinez that exhibits the Parallel Channel that the weekly price of Solana has doubtlessly been transferring inside in current years:
As displayed in the above graph, Solana retested the higher degree of the Parallel Channel a couple of instances during 2025. Each time, the price ended up topping out and a decline adopted. The higher line of a Parallel Channel is taken into account to be a source of resistance, so these rejections might have been indicators of the sample being in motion.
Since the latest rejection, SOL has been transferring down in a sharp method as the cryptocurrency sector as a complete has noticed a bearish shift. So far, the coin is still contained inside the higher half of the channel, but if momentum weakens, it would end up touring decrease.
According to the analyst, these ranges might act as assist in such a situation: $50.22, $22.47, and $9.98. These ranges correspond to a level 50%, 75%, and 100% down the channel, respectively.
Solana last examined the lower-most of these ranges during the bear market of the earlier cycle. Back then, it had helped the cryptocurrency attain a backside. It now stays to be seen which direction the asset will go next and if a retest of any of these ranges will happen.
SOL isn’t the only cryptocurrency observing a Parallel Channel setup. As Martinez has highlighted in another X post, the month-to-month price of Stellar (XLM) has also been transferring down such a sample, with doable assist ranges current at 0.147, 0.078, and 0.041.
SOL Price
At the time of writing, SOL is floating around $81, down 5.5% in the last 24 hours.
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