Solana roadmap to $400-$425
Love SOL or hate it. $400-$425 is a magnet.
Solana is showcasing a textbook Cup and Handle pattern on the 2-day timeframe, signaling a potential bullish breakout. Here’s the breakdown:
1️⃣ The Cup Formation:
The base of the cup was formed between May 2022 and January 2023, marking a prolonged accumulation phase.
The lip of the cup rests around $225, a key resistance level tested multiple times.
2️⃣ Handle Consolidation:
After reaching the cup's lip, Solana entered a consolidation phase (the handle), with lower highs and higher lows forming a descending channel.
This phase typically indicates a preparation for the next major move.
3️⃣ Breakout Potential:
A breakout above the $225 resistance level confirms the pattern, opening the door for significant upside.
📈 Bullish Momentum:
With strong momentum and increasing trading volume, a breakout seems imminent.
Watch for confirmation of the breakout above $225 before entering positions.
Key Levels to Watch
Resistance (Breakout Zone): $225
Target Based on Cup Depth: $425
Support (Invalidation): $175 (below handle structure)
Solana is showcasing a textbook Cup and Handle pattern on the 2-day timeframe, signaling a potential bullish breakout. Here’s the breakdown:
1️⃣ The Cup Formation:
The base of the cup was formed between May 2022 and January 2023, marking a prolonged accumulation phase.
The lip of the cup rests around $225, a key resistance level tested multiple times.
2️⃣ Handle Consolidation:
After reaching the cup's lip, Solana entered a consolidation phase (the handle), with lower highs and higher lows forming a descending channel.
This phase typically indicates a preparation for the next major move.
3️⃣ Breakout Potential:
A breakout above the $225 resistance level confirms the pattern, opening the door for significant upside.
📈 Bullish Momentum:
With strong momentum and increasing trading volume, a breakout seems imminent.
Watch for confirmation of the breakout above $225 before entering positions.
Key Levels to Watch
Resistance (Breakout Zone): $225
Target Based on Cup Depth: $425
Support (Invalidation): $175 (below handle structure)
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