The Solana price is trading within an ascending channel on a larger timeframe, indicating a potential rally towards $387, according to popular crypto analyst Ali Martinez.
The ascending channel pattern suggests a continuation of the upward price trend, with a key support level at around $195.
If the support level holds strong, it could act as a springboard for the Solana price to reach a new all-time high of $387, representing a potential 91% rally.
As of now, the price of SOL has shown a recovery above the $200 mark, indicating a 4% increase in the past 24 hours.