CandleFocus

Solana Eyes $500 as Cup and Handle Pattern Signals Bullish Continuation

Author: Content Editor
The Solana (SOL) chart is showing a cup and handle pattern, suggesting a potential breakout with a target of $400-$500 according to analysts. SOL has been resilient in the market, reaching a local peak of $225 before a slight pullback. Over the past seven days, the token has surged by 15.15% and there is speculation that it could surpass its all-time high. A technical analyst identified the cup and handle formation on the long-term charts, indicating bullish continuation. Another analyst on X highlighted a bullish channel on the hourly chart, with a target of $260 and the potential for new all-time highs. Solana's strong performance and the high trading volume of memes coins on its network are seen as bullish signs. Additionally, staking metrics indicate strong network confidence, with staked SOL reaching over $81 billion in total value and potentially supporting price stability or growth.

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