Is SOL ready to take off? Cup and handle pattern forming, target aiming at 165+!
Solana's recent performance has left many altcoins envious; although the overall market is moving sideways, it has quietly been building strength above key support.
Looking back, after surging to $176 in May, SOL retraced to around $147-150, but this range became a stronghold for bulls—every dip was met with buying, and it simply couldn't break down, a typical strong consolidation.
Now the structure is becoming clearer:
Double bottom confirmed, $147 has become a buying barrier.
Cup and handle pattern forming, with the neckline at $177-181. Once it breaks through, the trend is likely to gain momentum.
RSI bouncing back + MACD about to cross positively, momentum indicators are synchronously bullish.
In the short term, as long as it holds the $150 fortress, SOL is likely to test the $165-170 area, and may even challenge the strong resistance zone at $181.
But don't forget:
As we approach resistance levels, there's a significant chance of a pullback after a rise, so watch for volume conditions.
If it can break the neckline with volume, confirming the pattern, that will be the starting point for the next upward trend.
The current posture of SOL is either sideways or explosive; the key is—are you ready to follow along? Do you think it can shoot up directly in June?
