$4,000 Solana Price Possible As SOL Breaks Out Of Massive Cup And Handle Pattern
Solana Price May Rise Reach new ATH One analyst said the company’s most recent share price was $4,000. Breakout from a giant cup-and-handle pattern. This bullish signal follows the recent rise in Solana (SOL) price, which has crossed the $200 mark significantly, indicating a strong upward trend.
Solana price target breaks $4,000
A cryptocurrency analyst known as “CryptoRus” shared One long-term forecast suggests Solana could hit $4,000 by the end of the current market cycle. Analysts base this bullish outlook on a technical pattern called the “cup-and-handle.”
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According to CryptoRus, Solana just broke through its cup and handle pattern its formation on the price chart. This unique chart pattern is considered a bullish signal and, in technical analysis, indicates a continued uptrend.
Analyst’s chart illustrates Solana Price Trend On the weekly time frame, use the above technical patterns as the basis for analysis. From 2022 to mid-2024, Solana has gone through a period of consolidation and recovery, as can be seen from the cup part of the technical landscape. The “handle” in the chart pattern also showed slight consolidation; however, analysts eventually pointed to a breakout signal.
Once Solana is able to achieve this breakthrough, it will happen Beyond resistance levels Between $195 and $255. After expected breakout, analysts suggest solid uptrendthe upside is expected to exceed $4,450 and reach a staggering $5,000. To reach this impressive target, Solana would need to rise 2,027% from current price.
Earlier this week, analysts revealed in a previous report that Solana was on the verge of breaking out of its Cup and Handle technology model. X posts The cup depth of the pattern indicates bullish price target Solana’s price during this market cycle is $400. A surge to $400 would represent a 70.21% increase from the current market value.
Price change updates
recent, Solana Price has been in a significant upward trend, recording considerable gains in a bull market. This bullish price action Bitcoin surges as it surges This took its price to a new high above $93,000.
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As one of the world’s leading altcoins, many analysts believe expected Bullish target for Solana price, predicting its price will hit all-time highs as the bull market heats up. According to data from CoinMarketCap, Solana is priced at $237 at the time of writing, up 14.88% in the past seven days and up even more, reaching 41.7% in the past month.
Although cryptocurrency daily trading volume Despite a 12.32% decline of $6.8 billion, Solana is still poised to surge if market conditions remain favorable.
Featured image created using Dall.E, chart from Tradingview.com
