Solana price has been consolidating within the $75-$100 range since early February this year. Now, a confirmed breakout from a descending parallel channel puts the asset in a position to challenge higher resistance levels after months of sideways movement. After climbing to a month high of $90.3 on April 17, Solana ( $SOL ) price fell nearly 8% to $83 amid profit taking by investors and a broader rotation away from risk assets amid concerns over stalled U.S.-Iran peace negotiations and rising oil prices. The 7th largest token has fallen nearly 33% so far since the beginning of this year. Despite this significant drop, its charts have now flashed a bullish signal for the medium term. On the daily chart, Solana price has broken out of a multi-year descending parallel channel from mid-September last year. A breakout from such a pattern has historically led to a shift in market sentiment from bears back to bulls. $SOL #DailyOrbit #OKXOrbitTopics @OKX Orbit