Analyst Ali Martinez says Solana’s weekly price may be tracing a Parallel Channel — a setup that points to clear support levels if the token keeps sliding.
In a post on X, Martinez highlighted a potential Parallel Channel forming on SOL’s 7-day chart. A Parallel Channel occurs when price moves between two equidistant trendlines. Depending on their slope, these channels can signal uptrends (ascending), downtrends (descending) or, as in this case, a largely sideways range when the lines run roughly parallel to the time axis.
Martinez’s chart shows SOL repeatedly hitting the channel’s upper boundary several times in 2025 and being rejected each time. Those upper touches acted as resistance, followed by sharp pullbacks — a pattern that’s continued as the broader crypto market turned more bearish. Currently, SOL remains in the upper half of that channel, but weakening momentum could push it lower toward the channel’s support zones.
The analyst pinpoints three potential support levels if SOL drops further:
- $50.22 — roughly 50% down the channel
- $22.47 — about 75% down the channel
- $9.98 — the channel’s lower boundary (100%)
Notably, SOL last visited the bottom-most level during the previous cycle’s bear market, where it helped define a market low. Whether Solana will retest any of these floors again is uncertain and depends on how price and market sentiment evolve.
Martinez also flagged a similar Parallel Channel on Stellar’s (XLM) monthly chart, with possible supports at $0.147, $0.078 and $0.041.
Price note: SOL was trading around $81 at the time of Martinez’s post, down roughly 5.5% over the prior 24 hours.
Takeaway: The Parallel Channel offers a tidy framework for traders and investors to map potential downside targets, but these technical levels should be weighed alongside on-chain data, macro drivers and risk management.
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