Solana Price Action at a Crucial Support Level
- Solana has been trading in an uptrend channel since July 2024.
- The altcoin reached an all-time high of $293 on January 19.
- Following declines, Solana hit the bottom trendline of its channel at $193.
- The current trading price is around $204, a rebound from recent lows.
- A potential price target is set at $389, aligned with the Fibonacci extension level.
Solana’s recent price action shows a rebound from its lower trendline to $204, indicating that the uptrend channel remains intact with a potential target of $389 if support holds.
Source (2.6)https://www.newsbtc.com/altcoin/solana-faces-key-test-what-happens-next-could-be-game-changing/?rand=52377
