The post Solana Eyes $210 Before Its Next Major Move—Uptrend Or Fakeout Ahead? appeared on BitcoinEthereumNews.com.

An analyst has explained how Solana could decide its next big move after rising to $210, the resistance level of a Parallel Channel. Solana Has Been Trading Inside A Parallel Channel Recently In a new post on X, analyst Ali Martinez has talked about how the trajectory of Solana is looking from the perspective of a technical analysis (TA) pattern. The pattern in question is a Parallel Channel, which forms whenever an asset’s price trades between two parallel trendlines. The upper line of the channel is considered a source of resistance, meaning that tops can be probable to appear on retests of it. Similarly, the lower level is assumed to provide support to the price, helping it to arrive at bottoms. A breakout of either of these bounds can signal a continuation of the trend in that direction. That is, a surge above the Parallel Channel can be a bullish signal, while a drop under it may lead to bearish action. There are a few different types of Parallel Channels, depending on how the channel is oriented with respect to the graph axes. Channels that have a positive slope are known as Ascending Channels, while those that slope downward are called Descending Channels. In the context of the current topic, the third and simplest type is the one of interest: a Parallel Channel that’s also parallel to the time-axis. This case corresponds to a phase of true sideways consolidation in the asset. Now, here is the chart shared by Martinez that shows the Parallel Channel that the 4-hour price of Solana has been stuck inside for the last couple of weeks: As displayed in the above graph, Solana retested the lower level of the Parallel Channel last week and successfully found support. The cryptocurrency has since been rising and nearing the resistance level,…

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Filed under: News - @ October 29, 2025 1:28 am