🏆 $SOL — The Cup & Handle Formation Near Completion: Eyeing a Breakout Toward $400+ 🚀
Solana ($SOL ) continues to demonstrate a strong macro bullish structure on the weekly timeframe, forming a textbook Cup & Handle pattern that’s been developing since late 2021.
📊 Key Technical Highlights:
Cup & Handle Structure:
The multi-year cup formation appears complete, with the neckline resistance sitting around the $250–$260 zone. A confirmed breakout above this level could signal the next major leg upward.
Measured Move Target:
Based on the depth of the cup, the technical projection points toward the $405–$450 range, aligning with the 1.236–1.618 Fibonacci extension levels. A sustained breakout could even stretch toward $500+ in an extended bullish phase.
Current Setup:
Price is consolidating just below the neckline after reclaiming critical support near $190–$200, maintaining higher lows and defending the ascending trendline — a healthy structure for continuation.
Volume & Momentum:
Gradual volume expansion and market-wide rotation toward high-performance L1s add confluence to Solana’s growing momentum potential.
📈 Bullish Scenario:
A decisive weekly close above $260 could trigger the full pattern breakout, potentially initiating a +70% move toward the $400 zone.
⚠️ Invalidation Zone:
Losing structure below $185 would weaken the bullish setup and delay the pattern confirmation.
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In Summary:
Solana is showing one of the most technically bullish large-cap structures in the market right now. All eyes are on the $260 breakout — once that level flips into support, the road to $400+ opens wide.