Solana (SOL) is currently trading in the red, impacted by a general bearish market sentiment, but an analyst has outlined the token’s potential path to new highs.
Analysis shared by Ali Martinez in a post on X on September 6 indicated that the decentralized finance (DeFi) token has been trading within a parallel channel since April, consolidating its price between defined support and resistance levels.
According to Martinez, Solana’s technical indicators suggest a possible upward movement. Specifically, the TD Sequential indicator, which is used to spot potential trend reversals, signals a possible buy opportunity for the asset, particularly on the daily chart.
The expert pointed out that the indicator appears near the channel’s lower boundary, which is a crucial support level for the cryptocurrency. Therefore, if Solana rebounds from this support, the price could move toward the middle boundary at $154 and potentially the upper boundary around $187.
SOL price analys
We współpracy z: https://finbold.com/solana-technical-analysis-hints-at-a-buy-signal-for-sol/
