The price analysis of Solana indicates the formation of a 'cup and handle' pattern that may create investor opportunities in the near future.
Formation of the 'Cup and Handle' Pattern
Solana's price structure is forming a classic 'cup and handle' on the monthly timeframe, suggesting potential bullish momentum. A breakout above key resistance may confirm significant price movements.
Expectations of Pullback and Buys
According to crypto analysts, a pullback to the $140–$150 range is expected, which may present a re-entry opportunity for bullish traders. There is potential for the formation of the 'handle' ahead of future growth.
Growth Prospects to $900–$1,000
Once the handle formation concludes, a breakout above the resistance zone could lead to a sharp rally towards $900–$1,000. This is based on historical analysis of price movements for similar patterns.
Thus, the price analysis of Solana showcases promising signs of growth, supported by strong network activity and historical technical analysis models.
