Solana completes the cup and handles breakout, setting long-term target at $1,315 based on Fibonacci extensions.
Weekly surge of over 11% pushes Solana near $182, confirming bullish continuation structure on higher timeframes.
Intermediate resistance levels expected at $382, $627, and $872 before potential final move toward projected target.
Solana has broken above key resistance in a textbook cup and handle formation, setting a technical projection toward $1,315. The breakout follows months of consolidation, supported by strong gains and defined Fibonacci targets on the weekly timeframe.
Cup and Handle Structure Points to Higher Targets
The weekly SOL/USDT chart reveals a completed cup and handle formation, a classical bullish continuation pattern in technical analysis. The “cup” formed between late 2022 and late 2024, starting with a decline to the $8–$9 range before a gradual recovery.
The rounded bottom lifted prices back to the $200 zone, marking the cup’s rim. Early 2025 began the handle phase, with price action consolidating in a downward-sloping channel. The breakout above this channel in recent weeks confirms the pattern’s technical completion.
Fibonacci Targets Define Rally Path
According to analysis shared by Ali (@ali_charts), the breakout sets a Fibonacci-based target at $1,315, derived from the height of the cup added to the breakout point. This move suggests a multi-month bullish cycle could be underway.
Intermediate Fibonacci levels at $382, $627, and $872 are mapped as potential resistance and profit-taking zones during the advance. These levels provide reference points for traders monitoring the rally’s progression.
Current Price Action and Market Context
At the time of writing, Solana trades at a price of 182.42 with a 24-hour volume of 5835405607. The asset has increased by 0.39 percent in the last day and 13.38 percent in the last week.
This performance follows an 11.15% surge in the current week, reflecting renewed buying momentum. Historical precedents in crypto markets show similar breakout structures have preceded extended bullish trends after long accumulation phases.
