Solana ($SOL ) is cooking up something spicy 🔥. After defending the $157 level like a boss, it's now eyeing that sweet $185 target—and maybe even $220. The chart's throwing a classic “cup and handle” 🍵, a pattern traders love when momentum’s about to explode.
Right now, SOL’s chilling around $162.30, just under the key $166 resistance. If bulls flip that line into support, we could see a clean sprint to $185. Fibonacci levels agree (hello 1.618 extension 📈), and the handle’s consolidation just beneath the neckline is textbook bullish.
But wait—there’s more. On July 13th, $555K in shorts got wrecked. That’s 8x more than long liquidations, and it likely triggered the mini pump. Bears got squeezed, and that forced buying may have been the launchpad SOL needed.
Meanwhile, exchange outflows are stacking up—$7.58M pulled off platforms in one day. Less supply = more pressure to the upside. Looks like holders are playing the long game 🧠.
TL;DR:
Cup & handle? ✅
Trendline support? ✅
Short squeeze? ✅
Exchange outflows? ✅
All eyes on $166. Flip it, and $185 could hit fast. Beyond that? $220’s on the radar. Don’t sleep 😴.
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