Solana's price has been experiencing notable volatility in recent sessions, leading to speculation about an end to its prolonged downtrend.
The cryptocurrency has broken above a long-standing descending price channel that led to a significant 75% decline. According to Team LAMBO's analysis, the downward channel began near $250 last year, and with the latest momentum, Solana has moved upward for the first time since.
However, analysts caution that a clear weekly candle close above the channel is needed to confirm a lasting reversal. Technical charts indicate that Solana has indeed moved above this historic range, but there are still critical zones to consider.