- Solana’s cup-and-handle pattern hints at a breakout, with $200 as the key level to confirm bullish momentum.
- Short-term resistance at $134–$136 challenges SOL, but an ascending trendline supports continued bullish movement.
- A successful breakout could push SOL past $200, potentially targeting much higher levels based on historical trends.
As per crypto analyst Ali, Solana (SOL) is forming a textbook cup-and-handle pattern, signaling a potential breakout if the price surpasses $200. Currently, SOL trades near $129.72, consolidating within the handle phase. Historically, such patterns have led to strong rallies. If the price breaks above descending resistance, a bullish move could follow.
Cup-and-Handle Formation Signals Strength
On the weekly data, Solana’s price activity indicates that a protracted cup pattern is coming to an end. The cup started in the middle of 2022, had a low point in 2023, and has been rising since 2024. A falling consolidation is currently taking shape on the handle. Key resistance sits near $250, where previous price movements faced rejection.
A breakout from this formation often results in a rally. Additionally, historical trends show similar setups have led to major price surges. If SOL clears $200, the cup-and-handle structure will confirm bullish momentum. This could open the path to higher levels, possibly beyond $3,000 based on past projections.
Short-Term Accumulation and Resistance Levels
In the short term, SOL is consolidating within a tight range according to crypto analyst Ted. The 2-hour chart from OKX shows price action moving along an ascending trendline. Buyers have consistently pushed higher lows, supporting the bullish structure.
The resistance zone between $134 and $136 has been a major barrier. Multiple rejections in this area indicate strong selling pressure. However, the ascending trendline suggests that buying momentum remains intact. A clean breakout above $137 could trigger a rally, pushing the price towards $138 and beyond.
Key Levels and Market Sentiment
Market sentiment remains optimistic, with traders closely monitoring key resistance levels. A break above $137 may signal the beginning of a new upward movement. Conversely, if the price faces rejection, a pullback to the trendline is likely.
On a macro level, SOL’s bullish structure remains firm. The long-term trend is intact, supported by strong accumulation. If SOL sustains momentum, a breakout above $200 could be imminent. Besides, technical indicators align with historical patterns that previously led to significant price increases.
