$SOL

🚨Solana Technical Analysis🚨

Solana is now testing the lower boundary of a well-defined parallel channel that’s been guiding its price action since April. As seen in the chart shared by The Boss, SOL is reacting to Bitcoin’s broader pullback but remains technically intact within its trend structure. The current level around $160 aligns with the base of this channel, as well as the 0.5 Fibonacci retracement zone from the recent $206 high. So far, this area has served as a reactive region that often halts deeper drawdowns.

If this lower boundary holds, the next visible resistance levels are marked near $206 and $274, which correspond with both the upper band of the channel and the 0.618 and 0.786 Fib zones. Given the recent surge in institutional futures activity, this chart reinforces the idea that current price action could just be a healthy consolidation phase within a larger trend

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