NewsBTC
Feb 28, 2026
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BEARISH 📉 : Solana faces decline as support levels identified at $50, $22, $10

An analysis of Solana's price chart suggests potential support levels due to a Parallel Channel pattern forming. This technical pattern indicates that:

  • Solana's price has been moving within this channel, testing the upper level multiple times in 2025, each time resulting in a decline.
  • The channel's upper line acts as resistance, and the current bearish market trend has pushed Solana downwards.
  • Potential support levels are identified at $50.22, $22.47, and $9.98, corresponding to 50%, 75%, and 100% down the channel, respectively.
  • These levels could provide support if the momentum continues to weaken.

Solana Parallel Channel

Additionally, Stellar (XLM) is also experiencing a similar Parallel Channel setup with possible support points at 0.147, 0.078, and 0.041.

Stellar Parallel Channel

Currently, Solana's price is around $81, having declined by 5.5% in the last 24 hours.