Solana Eyes $210 Before Its Next Major Move—Uptrend Or Fakeout Ahead?

Solana has been trading within a Parallel Channel, a technical analysis pattern identified by Ali Martinez. This channel consists of two parallel trendlines, an upper resistance line and a lower support line. Currently, Solana has retested and found support at the lower bound of the channel. The cryptocurrency is now rising and approaching the resistance level at $210. Martinez suggests that Solana's price may retest this $210 resistance before a significant move occurs. However, the direction of this potential move is uncertain. A rejection at $210 could send Solana back down to its support level around $176. Alternatively, breaking above the resistance could signal a sustained bullish trend. The outcome of this retest, if it happens, is yet to be determined. Solana is currently trading around $200, showing a notable increase in price recently.