In his latest price assessment, crypto analyst Ali Martinez stated that Solana (SOL) has entered a critical phase.

According to Martinez, after a prolonged period of pressure, Solana is moving within a narrow consolidation channel, and the next 48 hours could determine the price's direction until the end of April.

According to the analyst, the current technical structure indicates that the price has retreated to the lower boundary of the channel. In this context, the key levels for Solana are as follows:

Resistance: $96.04

Support: $76.66

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Martinez stated that if the support level at $76.66 holds, a classic "double bottom" formation or a rebound within the channel could be observed. In this scenario, the first short-term target is $81, followed by $85, which is in line with the 50-day moving average.

On the other hand, the analyst warned that the technical outlook would deteriorate if the daily close falls below $76.66. In this scenario, according to Martinez, the downtrend could intensify, potentially pushing the price to its year-to-date low of $68.54 and even closer to the psychological level of $50.

*This is not investment advice.

source: https://cryptonews.net/ru/

Solana's share price is likely to be around $76, according to an analyst.