$SOL

🚨 Solana Price Prediction: Is SOL in for a New High? 🚨

Popular X analyst Ali Martinez brought attention to the “textbook-perfect” cup and handle pattern after a decisive rebound off the lower support of the descending channel forming the handle.

The month’s reversal has proven the pattern’s integrity and set the Solana price on the breakout path, approaching its upper resistance.

A successful breakout targets highs around $450, marking a potential 200% gain from current prices, though Martinez alluded to potential 4-figure gains.

The setup appears increasingly plausible as technical indicators skew bullish.

The Relative Strength Index (RSI) is trending upward, now closing in on the neutral 50 mark—typically a sign of growing buying pressure.

More so, the MACD line closes in on a bullish golden cross, en route to overtake the signal line. This formation on the weekly time frame often coincides with major trend shifts.

The last of which corresponded to the post-election and inauguration rallies—explosive periods which took the Solana price ot new highs.

That said, Solana’s recent push has been rejected at the $160 resistance level—a key barrier that must be overcome to confirm a breakout.

Overcoming it could trigger a rally towards the next key resistance level at $190.

However, failure may trigger a correction, eying the next significant support around $125—a cause for concern with looming economic uncertainty.

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