February 2026 – Analyst Ali Martinez has highlighted potential support levels for Solana (SOL) based on a Parallel Channel forming in the cryptocurrency’s weekly price chart.

In a recent post on X, Martinez explained that a Parallel Channel is a technical analysis pattern formed when an asset trades between two parallel trendlines. Channels can be ascending, descending, or perfectly horizontal. In Solana’s case, the asset appears to be moving inside a mostly horizontal Parallel Channel, indicating a phase of sideways price action.

Martinez’s chart shows that Solana repeatedly tested the upper line of the channel during 2025, each time encountering resistance and experiencing declines. Since the latest rejection, SOL has moved sharply lower, mirroring the broader bearish trend in the cryptocurrency sector.

The analyst identified potential support levels if the price continues downward:

• $50.22 – 50% down the channel
• $22.47 – 75% down the channel
• $9.98 – 100% down the channel

Historically, the lowest of these levels helped Solana find a bottom during the previous bear cycle.

Martinez also noted that other cryptocurrencies, including Stellar (XLM), are displaying similar Parallel Channel setups, with potential support levels at $0.147, $0.078, and $0.041.

At the time of reporting, Solana was trading around $81, down 5.5% in the last 24 hours, as market participants watch for the next directional move.