Analyst Ali Martinez is back in the conversation around Solana after posting a chart on X (formerly Twitter) showing a recent pullback into the $210 breakout zone and arguing that the correction is a setup for another leg higher. “As expected, Solana $SOL retested the $210 breakout zone. Now preparing for the next leg up to $320,” Martinez wrote alongside a clean, annotated chart that maps the ascending trendline and Fibonacci extension levels.
The timing of Martinez’s call comes as SOL trades in the low-$200s, having given back some of the sharp gains it recorded earlier in the month. Live price aggregators show Solana around $219–$223 at the time of writing, with 24-hour moves that reflect the wider market wobble over the past 48 hours. That drop chased out a tranche of leveraged positions across exchanges, as traders confronted a wave of liquidations that hit Bitcoin, Ethereum and other large caps as well.
Technically, Martinez’s setup is straightforward: a breakout above the $200–$220 resistance band has begun to flip that area into a support zone, and a successful retest would keep bullish momentum intact. Several market commentators are pointing to Fibonacci extension targets in the $250–$321 range as the natural next stops if SOL reclaims daily momentum, a view that lines up with the dotted projection Martinez drew on his chart toward roughly $320. Those Fibonacci projections have been widely referenced by exchanges and analysis desks as the roadmap for a sustained upside.
That optimism sits alongside even louder, more ambitious technical calls. In recent days, Martinez and others who’ve dissected Solana’s multi-month base have floated a much loftier “main target” derived from a cup-and-handle breakout, with one projection placing a theoretical ceiling above $1,300 should an unusually long and clean trend play out. Experts picked up that angle after the chart went viral, though most market participants treat such a distant target as an outlier scenario that depends on macro tailwinds and an extended period of buying pressure.
Way Forward
For traders and holders, the immediate watch is clear: can SOL hold above the $210 area on daily closes and absorb the selling that often accompanies a retest? If the level holds, momentum-chasing buyers could push SOL back into the $250–$280 band and then toward the $320 region Martinez highlighted. If it fails, however, analysts warn that a deeper fall toward $190 or the stronger trendline supports closer to $170–$180 could follow, a reminder that even well-drawn technical setups are vulnerable to sudden liquidity events.
Beyond pure price action, the narrative around Solana remains mixed. The network has seen renewed institutional interest and product activity in recent months, but the token’s moves have also been amplified by macro-driven de-risking in crypto markets this week. That blend of on-chain fundamentals and short-term derivatives flows is why chartists like Martinez are so keen to highlight structured retests: they offer neat risk/reward levels for traders who prefer to buy at proven support rather than chase breakouts.
In short, Martinez’s chart has given traders a tidy thesis to test: if $210 holds as support, the path to $320 is plausible; if it doesn’t, the market will likely need to find buyers lower down the ascending trendline. As ever with crypto, the technical story will be decided by volume and whether broader market liquidity returns, a reality that makes immediate price moves feel both scripted and surprise-prone at the same time.
