{"id":12149,"date":"2025-02-09T17:01:34","date_gmt":"2025-02-09T17:01:34","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12149"},"modified":"2025-02-09T17:01:34","modified_gmt":"2025-02-09T17:01:34","slug":"solana-price-stays-within-ascending-channel-is-387-next","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12149","title":{"rendered":"Solana Price Stays Within Ascending Channel \u2014 Is $387 Next?"},"content":{"rendered":"
\n

After a relatively solid performance<\/a> in January \u2014 which saw the altcoin reach $290, SOL started February with a deep correction beneath the $200 level. However, the Solana price could be on its way to a new all-time high, as it continues to trade within an ascending channel on a larger timeframe.<\/p>\n

Here\u2019s How SOL Price Could Climb To New All-Time High<\/strong><\/h2>\n

In a February 8 post on the X platform, popular crypto analyst Ali Martinez has painted<\/a> a fresh bullish outlook for the Solana price over the next few weeks. According to the trader, the price of SOL could experience a significant rally beyond its current record high and towards $387.<\/p>\n

The reasoning behind this bullish forecast is the formation of an ascending channel pattern on the Solana chart on the daily timeframe. An ascending channel is a technical analysis pattern composed of two major (upward-sloping) trendlines; the upper line connecting the swing highs and the lower line connecting the swing lows.<\/p>\n

Typically, the asset\u2019s price remains within the ascending channel; with the upper boundary line often serving as a resistance area and the lower trendline serving as a support zone. Investors can trade as price swings between the pattern\u2019s support and resistance levels or enter a position following a breakout or breakdown.<\/p>\n

The ascending channel pattern<\/a> suggests the persistence of an upward price trend. However, a breakout of this channel can be used to identify a trend reversal or continuation. If a breakout occurs beneath the lower trendline, it suggests that there might be a shift from an upward trend to a downtrend. A breakout above the upper boundary line, on the other hand, signals the continuation of the uptrend.
\n\"Solana<\/p>\n

As shown in the chart above, the Solana price is testing a key support area at the lower boundary of this ascending channel. Martinez highlighted<\/a> that if this support level holds strong could strengthen SOL\u2019s case for a price rebound.<\/p>\n

According to the crypto analyst, this support level of around $195 could act as a springboard for the Solana price rally to a new all-time high. Martinez put forward in his analysis a target of $387, which would represent an over 91% rally from the current price point.<\/p>\n

Solana Price At A Glance<\/strong><\/h2>\n

As of this writing, the price of SOL has recovered above the $200 mark, reflecting a more than 4% increase in the past 24 hours.<\/p>\n

\"Solana<\/div>\n","protected":false},"excerpt":{"rendered":"

After a relatively solid performance in January \u2014 which saw the altcoin reach $290, SOL started February with a deep correction beneath the $200 level. However, the Solana price could be on its way to a new all-time high, as it continues to trade within an ascending channel on a larger timeframe. Here\u2019s How SOL […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-12149","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12149"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12149\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}