- Solana’s weekly chart shows a classic cup and handle, with resistance tested near $150 and bullish momentum starting to build steadily.
- A/D line stability and slight upward bias hint that long-term holders are quietly accumulating during Solana’s current price consolidation phase.
- The Stochastic RSI crossover from oversold territory indicates rising bullish momentum, supporting the case for an approaching breakout in Solana.
Solana’s price structure is drawing attention as it forms a textbook cup and handle pattern on the weekly timeframe, suggesting a possible breakout.
Cup and Handle Pattern Strengthens Solana’s Bullish Setup
A recent tweet from a prominent crypto analyst Ali_charts points to a classic Cup and Handle formation developing in the Solana weekly chart. The pattern, which started forming in late 2021, shows a broad bottoming structure that gradually transitions into price recovery, building a well-defined base.
This cup formation reflects a prolonged accumulation phase, with the shallow curve signaling strong structural support. The pattern has since progressed into the handle phase — a descending channel acting as a temporary consolidation. Currently, SOL is nearing the end of this channel, with price testing resistance around $150.
A breakout above this zone could complete the pattern and trigger a measured move, targeting levels between $600 and $1,000. The inset chart(possible from a lower time frame) accompanying the tweet also visualizes a smaller-scale example that reinforces this potential setup.
Solana Price Structure Shows Bullish Momentum Building
Solana’s price action around $147.63 as of writing aligns with a broader technical setup. The chart shows two previous bullish waves in 2021 and 2023, each followed by notable corrections. Now, SOL is consolidating just below resistance after a pullback from local highs.
The Accumulation/Distribution (A/D) line has held steady with a slight upward slope. This suggests long-term holders may be gradually accumulating, reinforcing the bullish pattern forming on the weekly chart. Should buying pressure persist, Solana may advance toward $185 and beyond.
Current price action near the $145–$150 range is crucial. Holding this level could confirm the handle’s completion and sustain upward price pressure. If Solana holds above $145 and gains momentum, the next price level to watch is around $185. Should the structure break down, however, support may be tested near $120.
Momentum Indicators Support Potential Upside in Solana
Momentum indicators are beginning to align with bullish continuation. The Stochastic RSI shows a crossover in oversold territory, often a precursor to upward movement if supported by volume.
Specifically, the %K line has crossed above the %D line, now at 46.35 and 31.90 respectively. This movement on the weekly timeframe may confirm strengthening momentum. A sustained break above resistance could pave the way for targets between $600 and $1,000. The structure currently favors bullish continuation.
