Solana’s Next Major Support Levels Sit At $50, $22, And $10: Analyst
An analyst has identified the place Solana help ranges might lie based mostly on a Parallel Channel forming within the asset’s weekly value chart.
Solana Parallel Channel Could Indicate Support At These Levels
In a brand new post on X, analyst Ali Martinez has mentioned how help is searching for Solana from the attitude of a Parallel Channel that could be rising in its 7-day value.
The “Parallel Channel” is a sample from technical analysis (TA) that kinds each time an asset trades between two parallel trendlines. There are just a few other ways a Parallel Channel will be categorized based mostly on the orientation of its trendlines.
Ascending Channels contain traces which can be pointing up, whereas 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 present matter, the third and essentially the most primary sort is of curiosity: a Parallel Channel that’s parallel to the time-axis. As the worth strikes inside such a channel, it observes a section of completely sideways motion.
Now, right here is the chart shared by Martinez that reveals the Parallel Channel that the weekly value of Solana has probably been transferring inside in recent times:
As displayed within the above graph, Solana retested the higher degree of the Parallel Channel a few instances throughout 2025. Each time, the worth ended up topping out and a decline adopted. The higher line of a Parallel Channel is taken into account to be a supply of resistance, so these rejections might have been indicators of the sample being in motion.
Since the newest rejection, SOL has been transferring down in a pointy method because the cryptocurrency sector as a complete has noticed a bearish shift. So far, the coin remains to be contained contained in the higher half of the channel, but when momentum weakens, it’d find yourself touring decrease.
According to the analyst, these ranges might act as help in such a state of affairs: $50.22, $22.47, and $9.98. These ranges correspond to a degree 50%, 75%, and 100% down the channel, respectively.
Solana final examined the lower-most of those ranges through the bear market of the earlier cycle. Back then, it had helped the cryptocurrency attain a backside. It now stays to be seen which route the asset will go subsequent and if a retest of any of those ranges will happen.
SOL isn’t the one cryptocurrency observing a Parallel Channel setup. As Martinez has highlighted in one other X post, the month-to-month value of Stellar (XLM) has additionally been transferring down such a sample, with doable help ranges present at 0.147, 0.078, and 0.041.
SOL Price
At the time of writing, SOL is floating round $81, down 5.5% within the final 24 hours.
